Family Bank customers and non-customers to the Bank will now access instant loans and also set investment goals for periods between 3 to 12 months, earning attractive interest.
PesaPap, the very first full-service mobile banking application in the market, offers an incredible user interface, enhanced performance and an impeccable customer experience allowing consumers access to instant loan disbursements and repayments, as well as vanilla banking services such as funds transfer to accounts and mobile money wallets, bill payments, airtime purchase, scheduled payments, PesaLink, amongst others.
“With 65 percent of our bank transactions now via digital, up from 46 percent in January 2016 and with an 18 percent growth in mobile banking in 2017 compared to 9 percent in 2016, it is our strategic intention and focus to invest more in technology and aggressively drive efficiencies through IT,” said Family Bank’s MD & CEO Dr. David Thuku.
Dr. David Thuku noted that they believe the revamped PesaPap will meet the increasing demands of the modern-day consumer whilst keeping pace with emerging technology to further deepen financial inclusion.
According to FSD Kenya, over 6 million Kenyans have gained access to technology that can deliver micro-loans within seconds and build a credit history that can give them access to higher and cheaper loans in the future.
Kenya Bankers Association CEO Dr. Habil Olaka, on the other hand, noted that the mobile phone was no longer just a communication device but a tool for enhancing lives.
“It is through the adoption of modern financial technology that the banking sector will not only improve its efficiency but also spur economic growth and help alleviate poverty,” added Dr. Olaka.
Customers can now register and activate PesaPap without the need to visit any physical bank branch or fill out forms. PesaPap can be accessed by dialing USSD code *325# or by downloading the PesaPap app available on Google Play Store and Apple Store.