Kenya Commercial Bank (KCB) has enhanced the capacity of its flagship product and services offered to its customers in the country by effectively boosting the lender’s financial technology agenda.
“As one of the leading private banks in the East African region, we took the initiative to enhance our servicer to the market by undertaking quality assurance exercise as well as optimal development of our system to better serve the market. The move will enable our beloved customers to enjoy a seamless interactive experience while doing business with us,” Barry Chale, Director of Corporate Banking said during a Corporate Banking meeting in Arusha.
More than 70 people gathered in a meeting to discuss both KCB Bank assets and liabilities but also to be updated on the upgrades done to the bank’s services and products.
Despite the available services in the market, the lander is in a move to avail different transactional banking product and services like cheque management, trade facilitation, bulk payment, order coin and currency online, loans and overdraft, card statement, standing order management, account based money transfer and integration to mobile banking, to mention a few.
“The bank has improved its Community Account service which is part of the Bank’s Corporate Social Responsibility initiative. It is designed to offer free banking services to community-based service/projects (i.e not-for-profit organizations) such as Government and its Institutions, Schools, Hospitals, Religious Institutions etc,” Joseph Mmewa - Corporate Banking Relationship Manager said
He said that the improved community account is now featured with improved features like free cash deposit and withdrawals, free in-house cheque clearance/cheque deposit, free Cheque Book/Banker’s Cheque, no monthly Ledger/Maintenance Fee, no minimum Account Opening Balance, free Incoming Telegraphic Transfers to KCB, free outward local transfers (within Tanzania), free monthly account statements and a dedicated Account Relationship Manager.
“We have enhanced the capabilities on various product offered by the bank which included Community Account , Quick pay (Account to Wallet), I-Banking (Tax bank),Trade Finance and Treasury, as our way of deepening uptake of financial services,” he said.
In recent years, the lender has witnessed a sharp rise in requests for its services I different part of the East African community and beyond, leaving a message that the bank remain central in further deepening the financial inclusion agenda in Africa, according to Clara Sannda, Corporate Banking Relationship Manager.
Kenya Commercial Bank's net profit for the year ended 31, Dec 2016 grows marginally by 0.5 percent to Ksh19.72 billion due to hyperinflation in S.Sudan.
The Group which is Kenya's biggest lender by assets, said on Thursday its pretax profit rose 10 percent last year to Shh9.09 billion.
The bank, which also operates in neighbouring Uganda, Tanzania, Rwanda, Burundi and South Sudan, raised its dividend by 50 percent to 3 shillings per share.
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