KCB, Airtel in Uganda mobile banking deal

VALUE ADDED SERVICES

|
Image: KCB MD Albert Odongo and Airtel Uganda MD Somasekhar VG. By Julius Omondi Odera
KCB MD Albert Odongo and Airtel Uganda MD Somasekhar VG

By Omondi Julius Odera, Kampala Uganda

Kenya Commercial Bank (KCB) Uganda branch and Airtel Uganda have unveiled a partnership that will help KCB customers transfer, deposit and withdraw money at all KCB branches across the country, using Airtel Money. 

The mobile phone platform allows KCB consumers registered with Airtel Money to access their bank accounts, transfer, and deposit and withdraw funds at the comfort of their homes or anywhere anytime, a first of its kind in the market today.

This new innovation gives an opportunity to all Ugandans with mobile phones to enter the financial system and enjoy the various banking channels. The partners describe it is a revolutionary step in demystifying banking and making it easy for every Ugandan to keep their money in a safe and secure place.

KCB’s Managing Director, AlbertOdongo, said: “This partnership marks the convergence between banking and telecommunications which will indeed take financial services to the last mile. Our partnership symbolises how brands can maximize on their synergies to develop solutions that will hasten Africa’s development agenda.”

“Technology is one of the key agents that will drive economic growth by introducing convenience and efficiency to empower ordinary citizens to become agents of poverty eradication. This is in line with our vision of championing the social economic prosperity in Uganda,” Odongo noted.

He also highlighted that statistics from Bank of Uganda, which indicate that only four million Ugandans, or 33% of the bankable population, have bank accounts. He said this new service would rush the banking frontier to reach out to the unbanked population by enabling Ugandans with mobile phone services to easily open bank accounts.

Commenting at the launch, Somasekhar VG,Managing Director, Airtel Uganda, said: “We are proud to be in partnership with KCB Bank in this great innovation. Mobile technology is rapidly changing and it is especially important for businesses to maintain their competitiveness by offering innovative services like mobile banking and payment solutions through a mobile device that will enhance customer experiences and increase business efficiency for their customer base” He also added that Airtel Money transfer service is simple, secure and instant & will provide that niche.”

Somasekhar also noted that mobile phone users are not just looking to use their phones as a means to communicate but are also looking to use it as an enabling device. With this type of need, comes the opportunity for bankers to maximise their audience. “On a day to day basis, with Airtel Money, you no longer have to carry money – all you need is your mobile telephone. With access to over 5015 locations to the banked and unbanked, Ugandans and small businesses have benefitted from Airtel Money services, which have seen tremendous growth,” Somasekhar emphasized.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE VALUE ADDED SERVICES NEWS

Airtel Money leads on seamless e-services transactions

Airtel Ghana says it reinforced its position as having the most reliable platform for mobile money transactions at the launch of Government’s E-Payment Portal recently.  Read More

Rewards for Lipa Na M-Pesa fuel payments

Safaricom has announced an instant rewards system to incentivise customers who pay for fuel using Lipa Na M-PESA.   Read More

Ivory Coast launches m-tourism app

SODERTOUR has launched an app to give people important, real time tourism information on their cellphones. Read More

Dubai Bank launches M-SASA banking platform in Kenya

Kenya’s Dubai Bank and Rapid Communications, a telecommunications solution provider, have partnered to launch mobile banking system M-SASA.  Read More

Angola creates awareness about E-Kwanza BAI

A major marketing campaign is currently underway in Angola to create awareness about a mobile money service called E-Kwanza BAI, which was launched this month by the Banco Angolano de Investimentos (BAI, Angolan Bank of Investments).   Read More

Orange, USAID join forces to boost mHealth innovations across Africa

The U.S. Agency for International Development (USAID) and global telecommunications operator Orange have announced a new alliance to develop innovations in mobile health (mHealth) at the Global mHealth Forum in Washington, DC.  Read More

WFP, World Vision look to digital to assist DRC refugees

More than 1 100 households whose members fled the war in the east of the DRC have received financial assistance via mobile money from World Food Programme and its partner World Vision. Read More

Tanzania’s Safe Motherhood Text Messaging Service enters third year

Since its launch two years ago, 500,000 men and women accumulatively received 40 million informative safe motherhood messages and reminders through the Wazazi Nipendeni SMS service. Read More

2go racks up 2m monthly users on Android app

Mobile social network 2go has announced it has achieved over two million monthly users on its Android app just over a year after its launch. Read More

Airtel Money now largest financial service provider in DRC

Airtel Money has hit the 1 million revenue-earning customers landmark in the Democratic Republic of Congo (DRC). Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

PWC: Optimism abounds but a bumpy journey ahead for somePWC: Optimism abounds but a bumpy journey ahead for some

PwC’s ‘Capital Projects & infrastructure in East Africa, Southern Africa and West Africa,’ report says infrastructure spend in the region is projected to reach $180bn per annum by 2025.

IN DEPTH

Africa lags on digital migration Africa lags on digital migration

Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.