Cytonn launches digital system to transact more on mobile phone

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Cytonn Investments has launched a digital system set to facilitate mobile transactions in its platform, something that will see the company transact with investors more on mobile phones.

The chief executive Edwin Dande said investors in their firm money market fund would be able to start purchasing unit trusts, disposal, and transfer of units to other members without asking for assistance from Cytonn staff.

“Cytonn Wallet is our solution to an existing need where our clients can send money directly to Mpesa, to their bank accounts, pay bills, buy unit trusts and transfer unit trusts to other investors on the platform at the click of a button,” he said.

The new venture was pushed forward by the global trends that have been characterized by fast-growing businesses going digital to remain relevant in the market.

“The world has changed dramatically over the last couple of months. Businesses will evolve and emerge from the Covid-19 crisis in different and profound ways. This will translate into an even greater need for digital platforms to carry out transactions,” Mr Dande said.

According to Mr Dande, the Cytonn Wallet will reduce human contact between the investors and staff while ensuring their services are available as their offices remain closed

“We have now embarked on other value-added services such as a CMMF-linked debit card and a lending facility to offer more value to our growing number of clients,” Senior Manager Fintech, brand and innovation Cytonn Daniel Mainye said.


About Author

Anthony Kiratu is the Founder of Finsolutions. He is a financial analyst with over 5 years experience in research, investment advisory, valuation and financial modelling. Anthony is a member of the Institute of Certified Investment and Financial Analysts and Institute of Certified Public Accountants of Kenya. He is passionate about development of African Capital Markets through training of investors and dissemination of information for sound financial and investment decision making process. He is also a part-time lecturer in the Certified Investment and Financial Analyst course in the subjects of International Finance, Portfolio Management, Equity Investment Analysis, and Fixed Income Securities. Email: Contact: +254 780216631

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