Cooperative Bank of Kenya: Conquering Digital Strides

By Soko Directory Team / June 19, 2017

By Amina Faki

Cooperative Bank of Kenya is one of the renowned bank amongst its peers. Its performance in the banking sector is remarkable even with the decapitating interest rate cap, it has managed to grow in profits.

The bank has a growing customer base of 6.39 million account holders of whom 50 percent use mobile banking. Even with the banks remarkable performance in the banking sector the bank has a long way to go in terms of harnessing the digital banking services.

Access to computers and the Internet and the ability to effectively use this technology are becoming increasingly important for full participation in Kenya’s economic, political and social life.

People are using the Internet to find lower prices for goods and services, work from home or start their own business, acquire new skills using distance learning, and make better informed decisions about their healthcare needs.

Cooperative Bank of Kenya hasn’t for an instance let the opportunity pass by, the bank has harnessed the use of internet to give better opportunities to its customers through digital banking systems. i.e through mobile banking, Pesalink and internet banking.

These forms of banking has made it easier for Cooperative Bank of Kenya’s consumers to have easy access to their accounts and easy control of their money at the comfort of their homes.

According to a report by Cytonn Investments, banks have embraced technology to reduce operational costs and hence drive up efficiency. Some of these measures include integration with mobile application platforms and internet banking to facilitate increased collection of deposits and loan disbursement with fewer operating systems.

Mobile Banking

Currently mobile banking is one of the most common forms of banking in the country, Cooperative Bank of Kenya’s the M-Coop Cash services has enabled its customers to have access to a variety of banking services, money transfer and payment services in disregard of what mobile network one is using.

This mobile money service gives the consumers a chance to manage their own accounts at their own disposal at any time of the day.


PesaLink is a service that allows you to transfer money into a Co-op Account instantly, from another bank. This service was launched by the Kenya Banker’s Association which gives the customer the chance to transfer as little as KES 10 up to KES 999,999 at an extremely low cost of KES 0 to 152, depending on the amount you transfer.

In addition to the low charge on money transfer, customers of the bank can make payments directly from a Co-op Bank account to any local bank account instantly

Internet Banking

Co-op Bank of Kenya introduced Co-op Net, an internet banking service that enables individual customers, both small and large scale business owners, companies, corporates and institutions to engage in various transactions and monitor their bank accounts through the internet.

Any device that can connect to the internet can be used to access Co-op Net e.g. mobile phones, tablets, laptops, desktop computers, smart TV, game console and any other Internet Connected device.

For businesses, corporate companies, and institutions the service is available for Co-op Bank customers with business accounts, as well as non-Co-op Bank customers but for bulk payments only. However Co-op Bank customers can also register for bulk payments only.

The bank does not only think about money generation but also to quench the thirst of all its customer’s money matters.

About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: and on Twitter:

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