Showing early positive signs that the service will be huge.In November, Equitel Mobile decided to use normal SIM Cards for its mobile money after fears that the thin-SIM technology the firm wanted to use was not safe for mobile money transactions. The Central Bank and the Communications Authority had given it a go-ahead to roll out the service. Equity Bank had planned to launch five million ultra-SIM cards. “Time seems to be fast approaching when banks may not necessarily continue to exist as they are constituted today even though banking services will undoubtedly continue to be required.” said Dr. Mwangi. “Equity Group’s innovations are informed by this reality and are geared towards supporting banking becoming something you do, as opposed to somewhere you go to transact. Our members are increasingly gaining more freedom, choice and control” added Dr. Mwangi. Equity Group today announced a 29% growth in Profit after Tax for the year ended December 2014 financial results
