Equity Group Bets on AI to Power Growth as Digital Transactions Hit 98.2%

The milestone reflects a decisive shift in customer behaviour, with the vast majority of transactions now happening outside physical branches through mobile, agency, merchant, and ATM channels. The Group says this digital dominance has created a strong foundation for embedding AI across its operations to drive efficiency, improve decision-making, and unlock new growth opportunities.

Group Managing Director and CEO Dr James Mwangi said the evolution into an AI-first organisation is a natural progression from years of investment in digital infrastructure, noting that customer preferences are increasingly shaping how the institution delivers its services.

“The digitisation we are seeing is not led by the institution, it is led by customers, and you can clearly see that in the channels they are choosing to transact on. We have aligned ourselves to those customer-driven channels, and that is why 98.2 percent of all our transactions are now happening outside our branches, reflecting the level at which we have digitised the bank and optimised our operations,” he said during an investor briefing.

With digital adoption already at scale, Equity Group is now layering AI capabilities onto its ecosystem, shifting from an IT-led model to one where artificial intelligence is embedded in core functions such as customer engagement, risk management, and operational processes. The transition is also enabling the Group to move away from fixed-cost branch infrastructure toward a more flexible, self-service model that improves cost efficiency while supporting expansion.

A key part of this ecosystem is Equitel, a SIM-based platform that allows customers to access financial services without relying on internet connectivity. The platform is seen as both a financial inclusion tool and a security layer, as it reduces exposure to cyber threats commonly associated with internet-based channels while extending services to users on basic feature phones.

Mwangi said the platform’s architecture is intentionally designed to minimise exposure to cyber risks while expanding reach.

“Our infrastructure is embedded in the SIM card, meaning customers are not necessarily operating on the internet highway where most cyber threats occur. You do not need a smartphone to access services, and that allows us to protect customers effectively while still expanding access through secure, low-risk channels,” he said.

Beyond technology infrastructure, the Group is making a significant investment in human capital to support its AI ambitions. Out of a workforce of 11,900, more than 7,300 employees have already been trained and certified in generative AI through the Huawei ICT Academy, representing over 62 percent of staff. The training is being implemented across all roles, signalling a shift from specialised technical expertise to organisation-wide digital capability.

Mwangi said workforce transformation is critical to sustaining the bank’s technology-led strategy.

“This is not selective training; it is a mass transformation of our workforce because we are no longer operating in a traditional banking environment but in a technology-led model. You cannot place staff in an AI-driven organisation without equipping them with the necessary skills and competencies, which is why we are investing heavily in human capital,” he said.

AI upskilling has been made mandatory within a defined timeline, with the Group positioning workforce readiness as critical to sustaining its transformation. In addition, 53 employees have been enrolled in a Master’s programme in financial engineering at WorldQuant University, with plans to scale advanced AI training to up to 5,000 staff over time.

As Equity Group deepens its AI integration, the focus is now on using technology to enhance productivity, strengthen risk management, and expand access to financial services, positioning the institution for sustained growth in an increasingly digital and data-driven financial landscape.