Kenyans have confidence in mobile transactions by their banks amidst lowering confidence in customer care.

This is according to a new report by audit firm Ernst & Young tilted “Winning through Customer Experience”, which sampled 502 banking customers in Kenya, 1500 in Nigeria and 512 in South Africa.

Of the 502 repsondents in Kenya 21% of them said their mobile service provider is their primary banking system compared to an African average of 6%.

It is with this in mind that banks such as Equity Bank are looking to delve into the telecommunication sector to take closer care of their customers.

“I see more competition, I see the mobile providers providing some of that and engineering in some aspects of retail excellence,” Steve Osei-Mensah a partner at Ernst & Young said during the launch of the report.

Kyai Mullei the co-founder of MChanga a mobile fundraising platform agrees that mobile banking has salvaged the banking industry.

“In the absence of other efficient payment systems (check, credit card) mobile is absolutely essential to small businesses and individuals,” Mullei told ITWeb Africa.

“Generally at the onset, small business margins are small and the one of the critical issues are management of cash flow to plow back into operations. Mobile can greatly enhance transaction efficiency while being a relatively cheaper mode of transaction,” Mullei added.