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.