A customer uses M-Pesa: Choice Microfinance Bank intends to leverage on innovation and technology to remain competitive in the market. FILE PHOTO | NMG
Choice Microfinance Bank intends to leverage on innovation and technology to remain competitive in the market.
Diaspora-backed Choice Microfinance Bank is set to launch a mobile app and Internet banking services for members.
The management of the community-based microfinance bank headquartered in Rongai, Kajiado County, in a circular said it intends to leverage on innovation and technology to remain competitive in the market.
“During our AGM we promised to launch robust platforms that will enhance our daily operations and also increase our real time productivity,” said chairman Bernard Kamiri.
“We are currently testing our state-of-the-art mobile app as well as Internet banking that is to be launched officially within the month.”
The micro-lender was started two years ago by a group of Kenyans living in the US and seeks to facilitate investment of diaspora funds in small and medium-sized enterprises (SMEs) in marginalised areas of the country.
Under its bancassurance department, the micro-financier is also offering various insurance products.
The lender became the 11th microfinance bank to be licensed in the country.
In December, it asked shareholders to raise Sh60 million to boost its capital so as to secure a national licence. It has a substantial local shareholding.
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