Kenya’s banking sector walked into a new era of transparency and performance benchmarking on Thursday, December 4 as Integrated Payment Services Limited (IPSL) hosted the first-ever Pesalink Awards, honouring financial institutions that are leading the country in fast, reliable, and affordable instant payments.
The awards, based on ten months of verified operational data, showcased the banks delivering the strongest customer experience on Pesalink — Kenya’s de facto instant payments network that connects more than 80 banks, telcos, fintechs, and SACCOs.
With Africa’s digital payments market projected to hit $1.5 trillion by 2030, industry leaders said the recognitions come at a crucial moment for Kenya.
“By grounding recognition in verified performance data, we ensure that excellence in instant payments is not just celebrated but measured,” said Gituku Kirika, CEO of IPSL. “Every successful instant transfer represents trust fulfilled. These awards highlight the banks making payments faster, safer, and more affordable for millions of Kenyans
TOP PERFORMERS ACROSS KEY CATEGORIES
Transaction Success Rate (Reliability)
1st – Bank of Africa
2nd – Bank of Baroda
3rd – National Bank of Kenya
Service Availability (System Uptime)
1st – Bank of Baroda
2nd – Commercial International Bank Kenya
3rd – Dubai Islamic Bank
Weighted Growth Rate (Network Adoption)
1st – Equity Bank
2nd – I&M Bank
3rd – KCB Bank Kenya
Simplicity & Affordability (Customer Experience & Cost)
1st – SBM Bank
2nd – M Oriental Commercial Bank
3rd – Equity Bank
In special recognitions, Equity Bank, I&M Bank, and KCB Bank were honoured as Pesalink Adoption Champions for driving widespread uptake of the service. Cooperative Bank received the Ecosystem Collaboration Champion award, while SHM Bank was named Early Adopter.
Notably, Equity Bank and SBM Bank emerged as standout performers, each earning multiple recognitions across the operational and ecosystem categories.
A payment system powering Kenya’s digital economy
The awards reflect the growing importance of instant digital transfers in Kenya. Pesalink has processed KSh 1.1 trillion in value and 8.2 million instant transactions in 2024 alone. The network recorded a 99.99% uptime in January 2025 and maintains a 98% success rate for end-user transactions.
“Reliable, affordable instant transfers are no longer optional — they are the standard customers deserve,” said IPSL Board Chairman Jeremy Ngunze. “Recognizing leaders in instant payments strengthens trust in digital finance and accelerates Kenya’s journey toward a truly inclusive national payments network.”
More than 51% of all payments on Pesalink are business-related, underscoring its growing relevance in Kenya’s commerce and enterprise ecosystem.
The new benchmarks are expected to push banks toward:
- Improved service quality
- Greater transparency in performance
- Lower transaction costs
- Faster, more consistent instant transfers for customers
Consumers also stand to gain from enhanced reliability, fair pricing, and 24/7 access — with the ability to transfer up to KSh 999,999 instantly across banks, SACCOs, fintechs, and mobile wallets.
ABOUT PESALINK
Pesalink is Kenya’s instant, interoperable account-to-account transfer network operated by IPSL, a subsidiary of the Kenya Bankers Association. It connects over 80 financial and telecom institutions and is accessible through mobile apps, internet banking, and USSD.
