KCB Group and Airtel have signed a strategic partnership to ease the mobile transactions experience for their customers.
The technology driven innovation enables Airtel customers to walk into KCB outlets and deposit or withdraw money from Airtel Money, effectively enhancing service provision to customers as they transact through their mobile phones at affordable rates.
This partnership which aims at widening the opportunities for customers will also see Airtel’s agents obtain float from KCB outlets.
KCB and Airtel see the development as a game-changer with the technology behind convergence between banking and telecoms is revolutionizing access to finance for millions in emerging markets.
KCB’s Director Retail Mrs Anastacia Kimtai said the new partnership is part of the Bank’s strategy to deepen the provision of innovative products and solutions that meet the dynamic demands of customers in the changing world of technology.
“As the mobile money market becomes more dynamic and competitive, KCB will continue to stay relevant, anticipate shifts in the market structure, and leverage goodwill in the industry to tackle adversities and grow its customer base,” said Mrs Kimtai.
Mobile banking has become an economical power for Kenyans, giving them easier and broader access to financial services. The seamless convergence of mobile money products can provide economies of scale for operators to reach a broader market and enhance competition.
“This partnership with KCB marks yet another milestone in deepening the accessibility of Airtel Money to our customers throughout the country while partnering with key players in the country” said Airtel Kenya CEO Adil El Youssefi.
Airtel mobile money transfer technology allows customers to send money across all networks for free, is giving subscribers 25 percent bonus on any airtime bought on Airtel Money. This move has seen the number of Airtel money users steadily climb to reach three million.
“Airtel Money and KCB customers will now enjoy enhanced mobile banking services. We have put emphasis on public education with the launch of the Airtel Money “#insidestoro” awareness campaign that will enable customers to understand the benefits of using Airtel Money”, noted ADIL El Youssefi.
KCB mobile-banking platform has accelerated the reach to the unbanked in the country in a convenient, easy and simple manner without personally visiting a branch to open a bank account supporting the financial inclusion agenda. Diversification of products and services has seen the bank reap big profits.
Airtel Money has enhanced the mobile payments for free across all networks to both individuals and corporates. The Telco has come up with advanced payment solutions such as the Airtel Money VISA Card, with which customers can deposit and withdraw cash from over 1.8 million VISA ATM’s and transact using Airtel Money at over 30 million visa accepted merchant stores globally.
The two corporates will continue to grow these partnerships for mobile money as new technologies, and a dynamic ecosystem take shape in this pioneering market.