Pesalink Awards: SBM Bags Triple Honours as Instant Payments Reshape Banking on Digital Platforms

The transformation of the digital payments ecosystem in the financial sector has always been measured by adoption rates, but now increasingly on actual performance metrics. One of the key hallmarks of a robust banking institution is  its ability to process instant payments reliably and affordably for customers. Every bank in the modern Kenyan economy faces this imperative reality.

With digital payments projected to reach $1.5 trillion across Africa by 2030, the banking sector has moved beyond simply offering digital channels to competing on the quality, reliability and affordability of instant payment services. The inaugural Pesalink Awards, announced on December 4, 2025, have crystallized this shift by establishing the first data-driven benchmarks for instant payment performance across Kenya's banking industry.

SBM recognized in 3 categories at the inaugural Pesalink Awards, 2025

Among thirteen recognized institutions, SBM Bank Kenya emerged as a standout performer, securing three distinct awards including First Place for Simplicity and Affordability, Early Adopter recognition and the designation as Ecosystem Collaboration Champion. This  achievement demonstrates how strategic focus on digital infrastructure can reshape competitive dynamics in African banking.

The awards arrive at a moment when Kenya's financial architecture undergoes fundamental restructuring. The Central Bank of Kenya (CBK) migrated to ISO 20022 standards in October 2024 while developing a nationwide Fast Payment System to enable seamless instant transfers across all financial institutions. Against this backdrop of systemic change, performance metrics matter more than ever.

Pesalink processed Ksh 1.1 trillion in 2024 alone across 8.2 million instant payments, with business transactions constituting 51 percent of all volumes - pointing to how instant payments have become essential infrastructure for economic activity. 

SBM's first-place ranking for Simplicity and Affordability speaks directly to a core challenge facing Kenyan banking in making digital financial services accessible beyond urban centers. While established banks focused on premium services and complex fee structures, SBM pursued a different path. The bank systematically reduced transaction costs while simplifying user interfaces across its Mfukoni mobile banking platform and internet banking channels. This customer-centric approach resonates particularly with Kenya's expanding digital-native population, where cost-effectiveness often determines service adoption.

The Early Adopter recognition acknowledges SBM's willingness to embrace instant payment infrastructure ahead of regulatory mandates. The bank embraced the Pesalink integration, building technical capabilities to enable customers transact  with ease and affordability. Such a forward-looking stance demonstrates SBM’s customer centric approach in providing innovative solutions to power their financial growth.

Paul Sessi, Senior Manager, Transaction Banking & Product Development, SBM Bank Kenya (L), receives the  'Pesalink Early Adopter' award  from Jubril Adeniji, Board Director, Integrated Payment Services Ltd during the Inaugural Pesalink Awards.

Most significantly, the Ecosystem Collaboration Champion award highlights SBM's contribution beyond its own operations. In Kenya's interconnected financial landscape, where banks, telcos, SACCOs and fintechs must cooperate for payments to flow seamlessly, collaboration becomes essential infrastructure. SBM has actively participated in industry working groups, shared technical insights, and supported standardization efforts that benefit the entire ecosystem. 

For Kenya's banking sector, the Pesalink Awards introduce accountability through transparency. By grounding recognition in ten months of operational data measuring transaction success rates, service availability, growth patterns and affordability metrics, the awards move beyond marketing claims to verified performance. For consumers, such data-driven transparency is essential to enable them to make informed choices based on actual service quality rather than promotional promises.

The broader implications extend beyond individual institutions. As Kenya develops its Fast Payment System to create universal interoperability, banks that have already mastered instant payments gain substantial advantages. They possess the technical infrastructure, operational knowledge and customer trust necessary to capitalize on expanded payment networks.

With instant payments becoming the default expectation rather than premium service, banks must compete on reliability, affordability and ecosystem contribution. SBM Bank has proven that early innovational adoption, flexibility and customer centricity make a world of difference in providing financial partnership that enables individuals and organizations to thrive.