KCB and Airtel plan to leverage on technology banking and telecommunications to revolutionise access to finance for millions of people in emerging markets. PHOTO | FILE
What you need to know:
KCB and Airtel plan to leverage on technology banking and telecommunications to revolutionise access to finance for millions of people in emerging markets.
KCB Group and Airtel Kenya have signed a deal that will enable the telco’s mobile money customers to deposit or withdraw money at KCB outlets.
The partnership will also see Airtel’s agents obtain ‘float’, the virtual money used in their transactions, from KCB outlets.
KCB and Airtel see the development as a game-changer and said by leveraging on technology banking and telecommunications they can revolutionise access to finance for millions of people in emerging markets.
KCB’s Director of Retail Anastacia Kimtai said the partnership is part of the bank’s strategy to provide innovative products and solutions.
“As the mobile money market becomes more competitive, KCB will continue to anticipate shifts in the market structure and leverage goodwill in the industry to grow its customer base,” said Mrs Kimtai.
Airtel Kenya CEO Adil El Youssefi said: “This partnership with KCB marks yet another milestone in deepening the accessibility of Airtel Money. We have launched of the “#insidestoro” awareness campaign to enable customers to understand the benefits of using Airtel Money.”
Airtel allows customers to send funds across all networks for free, and is giving subscribers 25 per cent bonus on any airtime bought on Airtel Money.
This has seen the number of Airtel money users climb to three million.
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 also seen the bank reap big profits.
