Financial institutes urged to embrace technology

Banks, Insurance and Micro-Finance companies have been urged to integrate technology in their operations to increase efficiency in service delivery.

According to banking experts, integration of new technologies in financial service delivery will enhance customer data protection and reduce incidences of cybercrime as well as reduce transaction costs making banking more affordable and accessible to many Kenyans.

The latest report by cybersecurity firm Serianu indicates that Kenya lost 30 billion shillings to cybercrime in 2018, which could increase if organizations fail to adequately invest in cyber security infrastructure.