Faulu Microfinance Bank has announced a strategic refocus aimed at bolstering its digital banking capabilities and optimizing its operational structure to foster sustainable growth. Supported by a significant investment of over Ksh 900 million from its parent company, Old Mutual, Faulu is poised to enhance its digital finance offerings and streamline its distribution channels.
CEO Julius Ouma emphasized Faulu’s commitment to leadership in the digital finance space, highlighting substantial investments made in digital capabilities over the past 18 months. This initiative aims to make banking services more accessible through enhanced online platforms, aligning with customer preferences and market trends. #DigitalFinance #BankingInnovation
As part of its strategic realignment, Faulu plans to expand its support for Micro, Small, and Medium Enterprises (MSMEs), recognizing their crucial role in Kenya’s economy. This includes bolstering an already active agency network and implementing a robust digital lending platform to facilitate easier access to working capital for MSMEs. #MSMEsupport #FinancialInclusion
The bank also intends to optimize its distribution channels to better serve its growing customer base effectively. With a renewed focus on enhancing transactional convenience and customer experience, Faulu aims to remain competitive in the dynamic financial services sector of Kenya. #CustomerExperience #BankingInnovation
Arthur Oginga, CEO of Old Mutual Holdings, affirmed the company’s commitment to supporting Faulu’s strategic initiatives, ensuring alignment with market demands and enhancing customer value sustainably. #CorporateSupport #Partnership
George Maina, Faulu’s Chairman, expressed confidence in the bank’s strategic direction, underscoring its dedication to becoming customers’ trusted financial partner. This refocus not only aims to meet evolving customer needs but also to drive enhanced value across stakeholders, reinforcing Faulu’s position as a leading financial services provider in Kenya. #FinancialServices #CustomerTrust
Faulu anticipates rolling out these enhancements within six months, signaling a proactive approach to delivering superior financial solutions and reinforcing its commitment to operational excellence and customer-centricity. Stay tuned as Faulu continues to innovate and evolve in the competitive financial landscape. #OperationalExcellence #FinancialInnovation
