Seamless Xtra’s Alia AlHussein interviews Paul Sesi, Head of Transactional Banking & Product Development at SBM Kenya.
Paul discusses the evolution of transactional banking in Kenya and South Sudan, highlighting digital banking’s role in simplifying transactions and SBM’s innovations in ecosystem banking.
Paul, how has transaction banking evolved over the past decade in Kenya and South Sudan, and what key trends do you see shaping its future?
Transaction banking has greatly evolved over time in Kenya, moving from initial internet banking uptake to more complex integrations and interoperability of client and bank systems, with little or no manual intervention. Some jurisdictions, like South Sudan, have greatly leapfrogged many of the old systems of transaction banking into an age where corporate and SME customers hardly ever have to visit a branch to transact.
With the rise of digital banking solutions, what role do you believe they play in improving transactional banking services for businesses and individuals?
Digital banking solutions not only provide convenience in transacting away from the physical branch but also offer seamless and real-time solutions for processing bulk transactions.
How is SBM Bank leveraging technology to enhance transactional banking services, and what innovations do you think will define the future of banking in Africa?
SBM is constantly pushing the frontiers of technology, with user experience and functionality at the apex of what we constantly aim to achieve. Innovations around ecosystem banking will define the future, where banks not only aim to gain wallet share from large corporates but also bank key suppliers and customers to the corporates.
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