The surge of fintech in Kenya began in 2007 with Safaricom’s introduction of M-PESA, a mobile money service facilitating money transfers, bill payments, and financial transactions via mobile phones without requiring a bank account.

This early adoption, coupled with robust financial infrastructure and favorable policies, has positioned Kenya as a notable fintech hub. Fintech solutions, exemplified by services like M-PESA, have significantly bolstered financial inclusion, particularly among the unbanked.

As Kenya embraces these innovations, fintech continues to revolutionize peer-to-peer transactions, SME financing, and overall financial inclusion.

Boostika, an initiative by Equity Bank, plays a pivotal role in this digital transformation. Available through multiple channels such as the Equity Mobile App, Equitel, or the boostika code *247#.

Boostika is seamlessly integrated into transaction journeys, ensuring users can complete payments, money transfers, and airtime purchases without interruption.

Boostika offers overdrafts of up to KSh 100k. It’s available to customers with accounts that have been active for at least six months. Customers can draw multiple overdrafts as long as the unpaid balance is within their Boostika limits.

Boostika is available when someone is short on funds while making a payment, sending money, or buying airtime. It allows the user to complete the transaction without exiting the payment journey.

Security is paramount in the fintech realm, and Boostika ensures robust protection of personal information. With measures including computer safeguards, secure files, and buildings, users can trust the system’s security.

Boostika: Bridging Traditional Banking with Fintech Ingenuity

Additionally, Equity Bank, the driving force behind Boostika, has received prestigious certifications in IT Service and Information Security Management Systems, further underlining their commitment to secure financial operations.

Boostika’s user-centric design focuses on meeting specific needs. Offering instant funding and flexible financial solutions, it empowers Equity Bank customers with confidence and convenience.

The service’s dedication to understanding user needs and providing tailored solutions enhances the overall customer experience.

Equity Bank’s response to fintech evolution involves a comprehensive digitization initiative and the establishment of Finserve, a fintech subsidiary.

The bank’s adoption of online and mobile banking services, coupled with strategic integration with global fintech companies, positions Equity Bank as a leader in Kenyan diaspora remittances.

Looking forward, Equity Bank envisions collaboration as key to Boostika’s growth. Exploring partnerships and collaborations with a vision for advancement, Equity Bank aims to leverage synergies for Boostika’s benefit.

Equity Bank’s vision is to be a champion of Africa’s socio-economic prosperity. Their mission is to provide financial services that empower consumers, businesses, enterprises, and communities.