Kenya’s financial sector is staring at a technology revolution that could redefine how banks compete, reduce their costs, and attract more customers and serve them better.

However, despite recognising its potential, most banks in the country are slow to adopt Artificial Intelligence (AI) hence missoing out on opportunities that abound.

New research by Akili AI reveals that while more than 80 per cent of senior bank leaders agree generative AI will be transformative, only 20 per cent say they are “prepared” or “fully prepared” to make the leap.

This gap is very significant given internationally AI-native digital banks are already reshaping their financial services offerings with leaner operations and faster customer service.

Akili AI and iXAfrica Data Centres say the cost of customer acquisition for a digital bank can be less than one-third that of a traditional bank, while customer management costs can be slashed to a fifth.

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For Kenyan banks, that means an urgent need to act before new AI-driven challengers eat into their market share.

AI promises faster loan approvals, instant account openings, and automated customer service, even in Kenyan vernacular languages.

Banks adopting AI early also stand to benefit from stronger compliance tools, ensuring they stay on the right side of regulators while cutting costs.

“The AI revolution in banking is not a distant future, it’s happening now,” said Akili AI CEO Simon Bransfield-Garth.

He added: “Kenyan banks have the opportunity to embrace AI to reduce costs, reach more customers, and innovate in a market that is likely to become increasingly competitive with new digital entrants, including AI-native challengers.”

The potential of AI also stretches outside finance to:

• Healthcare, where it could streamline diagnostics

• Education, where it could personalise learning

• Government, where it could improve service delivery and

• Retail, where it could enhance customer experiences

One immediate gain, according to Akili AI, is the ability of AI to reduce the cost of holding and managing cash, a shift that could improve liquidity and boost overall economic activity.


On Monday, Akili AI and iXAfrica hosted a live demo for journalists and other stakeholders in Nairobi, unveiling AI applications tailored for Kenya’s financial services sector including:

• Automated customer support in local languages

• Instant account opening and loan approvals within minutes

• AI-powered compliance solutions to meet regulatory requirements seamlessly

According to iXAfrica CEO Snehar Shah, the time for action on AI is now:

“We have the infrastructure, talent, and market readiness to lead in AI adoption in Kenya, but AI is moving at unprecedented speed and action is needed by companies today, not tomorrow,” Shah intimated.

As Kenya cements its place as a regional financial hub, the message is clear that the future belongs to banks and businesses that embrace AI early, not those that hesitate.