6. equity bank
TRANSCRIPT
VisionTo be the champion of the socio-economic prosperity of the people of Africa.
MissionWe offer inclusive, customer-focused financial services that socially and economically empower our clients
and other stakeholders.
© 2014 | All Rights Reserved | Confidential and Proprietary to Equity Bank Limited.
1984 Equity 1.0Competition: Mattresses
2004 Equity 2.0Competition: Banks
Road to Success
2014 Equity 3.0Competition: Cash
Vision, passion, conviction
Addressing immediate social
needs
Developed mission and vision
formally
Focused on corporate governance
Built customer focused approach
(e.g., cash withdrawal)
Change management agenda
achieved (i.e., from product led to
market led)
Successfully started banking the
unbanked
Making money accessible –
wherever & whenever you need it,
Benki Yangu Mkononi
Strategic position to capture
significant share of East Africa’s
growth using a simple and shared
prosperity model.
Turn around/re-
engineer business
model (i.e.,
creation of deposit
taking and lending
financial
institution)
Equity’s IT Journey
2014
2004
2000
At Equity Bank IT, we enable and catalyze business
innovation with stable, secure, scalable and agile
information services
2007
1999
1997
2013
First Computer in Equity Bank
First in Kenya, First in Africa to offer a
full banking suite through an MVNO.
Making banking a lifestyle defined
by freedom, choice and control
Major system outage
and Finacle v10
upgrade
Finacle v7 core banking system
Dr. James Mwangi became CEO; with a 72M
Ksh investment injection, Equity became a BANK
Survived Y2K with people staring
at the screen and pray
“Financial Integrated System” was developed by
one person (who passed away)
The Winchester Mystery House
160 Rooms
6 Kitchens
Gas Lights
24 Skylights in Floors
65 Doors to Blank Walls
47 Fireplaces
10,000 Windows
Intercoms
13 Staircases Abandoned
Builders = 147; Architects = 0
Cowboy style courage enabled initial
success, but made long-term sustainably
impossible, for example, The Winchester
House.
© 2014 | All Rights Reserved | Confidential and Proprietary to Equity Bank Limited.
Business Growth
Fast business growth that surpasses skills and experience
Market
place
Small marketplace that causes an imbalance
between resource supply and demand
Premium Price
Companies that are willing to pay premium price for top resource, but can't wait to develop their own
Brain Drain
Brain drain to mature markets
Labor Cost
Increased labor cost
Other Challenges
Action Plan
Adoption
Checklist
Method
With an application template, each
specific project is put into adopted
into a context of reality
This is build based on what an entity has learnt from other
organization’s or people’s mistakes. It helps in identifying
what specific items need to be actioned for delivery. It
helps in building a generic applicable template
A well thought out plan will lead to the
effective and full delivery of a project
Discipline
GovernanceRules and Standards
•A core set of asset defining IT principle, standard, reference architecture, design and implementation templates, project template
Education
•Systematic training
•Targeted training
•Career path and professional development
Review
•Enforcing standards
•Managing exceptions
Vitality
•Encouraging innovation
•Adopting new technologies
•Continues improvement
Communication
•Communicate decisions and impacts
•Communicate new changes and innovations
Discipline is about governance, and not just policing
other:
Building a world class IT for the world class bank
1879
1913
Now ….
At Equity Bank IT, we enable and catalyze
business innovation with stable, secure,
scalable and agile information services through IT Industrialization