{"id":2720,"date":"2018-04-14T17:24:35","date_gmt":"2018-04-14T17:24:35","guid":{"rendered":"http:\/\/www.jisort.com\/?p=2720"},"modified":"2018-04-14T17:24:35","modified_gmt":"2018-04-14T17:24:35","slug":"traditional-dying-banks","status":"publish","type":"post","link":"https:\/\/www.jisort.com\/blog\/traditional-dying-banks\/","title":{"rendered":"The Traditional dying Banks"},"content":{"rendered":"<p><strong>The Traditional dying Banks <\/strong><\/p>\n<p>In Kenya and probably in Africa, banks are interested in middle income and high income earners. Banks are also keen to have people with frequent incomes. Offer structured, inflexible products designed for maximum gain from an individual customer.<\/p>\n<p>Interest capping in Kenya to a decent 14.4% per annum led banks to stop lending in protest, they instead invested their money in government bonds \u2013 a big mistake by Government of Kenya allowing them to do this.<\/p>\n<p>The economy suffered during that time \u2013 the so called bank esteemed customers were denied services \u2013 how can this kind of institution be a reliable partner.<\/p>\n<p>Banks don\u2019t care about low income earners except when they want to make extra money by selling merchandise \u2013 sell debit card in the name of a free bank account.<\/p>\n<p>How is it free? Yet if I don\u2019t transact for 3 months, they penalize me \u2013 they don\u2019t realize how damaging that it is to the low income earner \u2013 or probably they don\u2019t care, all they need is profits and huge perks.<\/p>\n<p>I believe soon innovative Fintech will offer digital debit cards plus growth of ewallets and mobile wallets in Africa \u2013 how will these heartless bank make money \u2013 no one will need a plastic debit card anymore.<\/p>\n<p>&nbsp;<\/p>\n<p>Common Visa and Mastercard, give license to startups looking to offer digital debit and credit cards \u2013 if you fail to do it now JCB is doing it and we welcome them.<\/p>\n<p>Why do I need to carry some plastic printed card everywhere..?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Traditional dying Banks In Kenya and probably in Africa, banks are interested in middle income and high income earners. Banks are also keen to have people with frequent incomes. Offer structured, inflexible products designed for maximum gain from an individual customer. Interest capping in Kenya to a decent 14.4% per annum led banks to [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":2721,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[57],"tags":[88,89],"class_list":["post-2720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-banks-vs-fintech","tag-future-of-banks"],"blocksy_meta":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.jisort.com\/blog\/wp-json\/wp\/v2\/posts\/2720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jisort.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jisort.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jisort.com\/blog\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jisort.com\/blog\/wp-json\/wp\/v2\/comments?post=2720"}],"version-history":[{"count":0,"href":"https:\/\/www.jisort.com\/blog\/wp-json\/wp\/v2\/posts\/2720\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.jisort.com\/blog\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/www.jisort.com\/blog\/wp-json\/wp\/v2\/media?parent=2720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jisort.com\/blog\/wp-json\/wp\/v2\/categories?post=2720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jisort.com\/blog\/wp-json\/wp\/v2\/tags?post=2720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}