Absa Bank Kenya has added an automated teller machine (ATM) withdrawal option on its mobile wallet Timiza platform, to allow customers to access funds from any of the lender’s cash automated outlets.
Previously, customers were limited to using the funds for payment of goods and services or could transfer the money to M-Pesa.
The ATM cash withdrawals expand the features of the virtual banking product, which also allows customers to get loans, send money, save with up to a five percent interest rate, pay utility bills or purchase airtime.
The platform offers mobile loans of up to Sh150,000 with a 30-day repayment period.
“We are continually developing new services and features on the Timiza platform in line with our strategy to enhance the efficiency of our digital services… the ATM withdrawal facility will enable both our retail and business customers to withdraw cash securely and conveniently from the convenience of their mobile phones,” said Steven Omamo, Absa Bank head of digital channels.
The Timiza app was launched in mid-March 2018 as part of the bank’s investment in digital innovations.
“We are intent on providing simpler, safer, and easier access to financial services for our Timiza customers,” he said.
