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Narmi Named Best Solution for Customer Experience and Best of FinXTech Connect in Bank Director’s 2021 Best of FinXTech Awards
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Narmi Wins Best of FinXTech Connect
“We’re thrilled to award Narmi for building a suite of digital banking solutions that puts control back into the hands of bankers and meets the ever-evolving needs of their customers, said Emily McCormick, VP of Research at Bank Director NEW YORK (PRWEB) May 13, 2021
Narmi, the leading provider of enterprise digital banking solutions, today announced it was named Best Solution for Customer Experience and overall Best of FinXTech Connect winner at Bank Director’s 2021 Best of FinXTech Awards. The company was recognized for its 2 minute and 13 second account opening experience and user-centric consumer and business digital banking platforms used by a growing number of financial institutions to accelerate growth in a digital-first wo
“There is no way you can have an economy that is developed when the financial sector is underdeveloped,” Mugume said while making opening remarks at the event.
According to the study, Uganda maintained an interest rate between 12 and 16 percentage points between 2007 and 2018, a figure relatively higher than Kenya which peaked at 10 per cent in the same period.
For a while now, the deposit lending spread - a gap between the deposit and lending rates in banks - has been determined by the cost of bank credit and the level of interest rates.
EXPENSIVE BORROWING
Experts believe that high bank lending interest rates have reduced Uganda’s economic growth and made borrowing an expensive source of capital for investment. Uganda’s private sector depends heavily on commercial bank rates, accounting for more than 90 per cent of the credit in the market.