Kenya Pushing Forward On Mobile Banking Innovations

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Written by Ann Brown

Kenya is leading the mobile banking revolution on the Continent–and worldwide, according to Kenya Commercial Bank chief Joshua Oigara. He says  Kenya is the global model for innovative use of mobile banking technology.

“I must say that East Africa, particularly Kenya, we’re way ahead in terms of delivering new channels, giving our customers more convenient solutions and exporting within Africa the opportunities that customers can exploit with mobile banking,” Oigara told CNBC Africa, as reported by ABN Digital.

Currently, Kenya Commercial Bank (KCB) has more than one million customers subscribing to its mobile databank. The bank wants to have over 80 percent of its customers accessing banking products and solutions through its mobile banking platform.

“If you look at the last year and this year a lot of innovations on mobile banking we’ve set up including a new KCB mobile banking, we call it Mobi Bank, with huge attribute to be able to give comfort and convenience for our customers,” said Oigara.

To further its efforts, the financial institution also announced that it will soon be debuting a ground-breaking innovation to enhance its mobile banking platform.

“Our customers will be able to open an account from the phone without having to visit any of our agents or any of our branches. That enhanced platform is something that we’re working on right now and it should be coming on in this current quarter or the next quarter. It’s an add-on to our current mobile banking platform,” Oigara said.