Post Bank partners with Equatorial Commercial Bank to roll out agency banking

Just as it leads the mobile banking race in Africa, Kenya is striding ahead in terms of agency banking as The Equatorial Commercial Bank (ECB) has rolled out agency banking services in partnership with the Kenya Post Office Savings Bank’s (Postbank) Kenswitch in a bid to increase presence across the country and meet the rising demand for its services.

The bank is targeting to aggressively grow its customer numbers by providing customized repertoire of financial services that will translate into financial empowerment of customers through enhanced reach, accessibility and information.

“In an age of convenience with everything within our fingertips, it is imperative as a business that we increase our brand touch points to best meet our customer needs. Accessibility of our service remains pivotal to our growth strategy”. We have opted for innovation designed around our customer demands and expectations and this is the beginning of greater things to come from ECB.” Said ECB Acting MD, Ms. Shamira Dostmohamed.

Cognizant of the percentage of unbanked Kenyans, creating grass root access to formal banking service represents a deliberate approach by ECB to bank the unbanked. Through this partnership, current and potential ECB customers will be able to access agency services from 102 Postbank locations.

These developments come even as ECB continues to solidify its positioning within the Kenyan market as an innovative bank. Recently, the bank won the 2014 2nd Runner up for the Best Bank in Mobile Banking in the Think Business Banking Awards in what Ms. Dostmohamed described as a deliberate effort to provide convenience that customers deserve.

Mwalimu Sacco recently bought a 51% stake in ECB that will see the country’s largest Sacco become the largest shareholder of ECB and this partnership agreement will enable members access services closer to their work stations.