Faulu Bank has won the best Microfinance bank award in digital banking and product innovation at the just concluded 18th edition of the Think Business Awards 2023.

The Awards, held annually since 2006 are aimed at encouraging prudence and stability in the banking sector by recognizing, and celebrating exemplary performers in the sector. Besides, the awards are won on a combination of merits, including financial soundness, opinion polls, market research and professional assessments.

Giving his remarks on receiving the accolades, Faulu Microfinance Bank Acting CEO Julius Ouma said these accolades are a testament to Faulu Banks’ unwavering commitment to leveraging technology and innovation to provide accessible and convenient financial solutions to our customers.

“We are incredibly honoured to be recognized as the Best Microfinance Bank in Digital Banking and Product Innovation at the Think Business Awards 2023. One of our main focuses as a bank is to empower individuals and businesses through digital transformation, and this recognition motivates us to continue pushing the boundaries of what is possible. We remain dedicated to driving financial inclusion, enhancing customer experiences, and making a positive impact on the communities we serve.” said Mr. Ouma.

On digitization, Faulu has introduced multiple transaction channels to improve efficiencies and increase convenience. These channels include the Faulu DigiCash App (Google Play and Apple), Faulu USSD code *339# and Faulu Visa Debit Cards. With over 120,000 customers onboarded on mobile banking, Faulu DigiCash App allows customers to access a suite of banking solutions. They include initiating trade finance, applying for insurance, paying bills, funds transfers, lifestyle features, loyalty programs and cheque book requests among others.