Kenyan fintechs poached aggressively from banks. Now the talent is returning
- Kenyan banks are regaining talent lost to fintechs as job security and better salaries attract professionals back.
- The shift has intensified since 2024, with banks expanding engineering and compliance departments in response to operational risks.
- Equity Bank raised salaries by about 20%, increasing entry-level pay significantly to attract staff.
The return of talent to traditional banks suggests a critical need for fintechs to adapt to the regulatory landscape in Kenya. While fintechs have driven innovation, their inability to secure licenses and provide job security may hinder their growth. A balanced approach that fosters both fintech innovation and regulatory compliance could benefit the entire financial ecosystem.
