advertisement

Companies

National Bank bets on mobile app upgrade to boost loan book

National Bank managing director Wilfred Musau. FILE PHOTO | NMG
National Bank managing director Wilfred Musau. FILE PHOTO | NMG 

The National Bank #ticker:NBK is betting on its upgraded mobile banking application aimed at expanding its retail business, to boost income.

Services available on the platform include account to account and account to mobile transfers, Mvisa, Pesalink, forex rate information, statement requests and applications for cheque books and ATM cards.

Bank managing director Wilfred Musau said the app, NatMobile has been enhanced to include new services with improved safety as the lender seeks to grow new revenue streams through digital avenues.

Mr Musau said all transactions, for instance, are authenticated by a one-time pin (OTP) validation and security feature through a client’s registered phone number.

“With this app, we can more easily offer our customers the banking products and services they need to help them reach their financial goals and, at the same time, offers the bank the opportunity to grow revenue streams,” said Mr Musau.

The lender is planning to include mobile lending services on NatMobile to enable easier access to financial products by its customers.

He said over half of the bank’s customers have already registered on the NatMobile banking platform and are currently conducting an average of 6,000 transactions per day.

The app allows parents and guardians to make payments such as school fees, National Hospital Insurance Fund contributions, utility bills and access to credit card statements. It also provides additional widgets such as currency converter and loan calculator.

The move comes barely a month after a three-day ICT outage that paralysed services at the mid-tier-lender.

advertisement