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Banking & securities

Our financial services industry (FSI) practice provides tailored solutions to organizations in the banking/securities industry facing the complex issues of today’s global marketplace. We understand the issues you face. We track the pressing trends and challenges, and assess the implications for our clients. We combine in-depth industry knowledge with technical expertise to develop the services that respond to your issues.

In the banking and securities sector, various country specific Acts govern players across the East African region. This dynamic industry has experienced tremendous growth with some key banks boasting of increases in pre-tax profits to the tune of 45% for the year ended 2011. This has been driven in part by an increased focus on innovative delivery channels such as mobile and agency banking. In Kenya, M-pesa which is an innovative mobile money transfer service has been widely adopted by banks, increasing the scope and reach of mobile banking. Further, banks in the region are widening their playing field by venturing into diversified business lines such as bancassurance, fund management and stockbroking.

We have provided comprehensive and integrated solutions aimed at achieving seamless transformation for Microfinance institutions (MFI) transitioning into Microfinance Deposit taking Institutions (MDIs). Our cross functional teams also advise on baseline assessments, strategy formulation, accreditation and licensing, and development of marketing and brand strategies to enable the MFIs roll out as transformed institutions.

In line with the ever growing bank and securities diversification strategies, our professionals across East Africa have helped various organizations undertake operation reviews, as well as identify and evaluate the benefits and relative feasibility of restructuring options. We also carry out assessments of the pros and cons of the various business lines they intend to venture into.

Key to the banking and securities companies in the region is the high level of risk exposure as they expand and increase their investment in technology. These technological advancements have presented a growing need for organizations in East Africa to invest heavily in risk management. Our Technology Advisory and Enterprise Risk professionals continue to work on various engagements aimed addressing the risk exposure concerns from Core banking systems implementation management and review, to security penetration testing.

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