KCB, Airtel in Uganda mobile banking deal
VALUE ADDED SERVICES| June 6, 2012, 5:26 p.m.
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.
MORE VALUE ADDED SERVICES NEWS
BIC, Orange Money agree on payment serviceBotswana Insurance Company (BIC) and Orange Botswana have entered into a partnership which will now enable BIC customers to make their premium payments through the Orange Money mobile money service. Read More
Strathmore, Castalia look to implementation of mobile learningStrathmore University in Nairobi and Castalia Co of Japan has signed a Memorandum of Understanding to launch a feasibility study of “goocus pro” and “goocus 3”, mobile learning platforms developed by Castalia, starting from April of 2015. Read More
Virtual clinic to help monitor medicine intake in TanzaniaThe Vodacom Foundation has donated mobile phones to the Sickle Cell Foundation of Tanzania to support treatment adherence among patients. Read More
Airtel mobile money service now crosses into DRC, Zambia, RwandaBharti Airtel has launched a cross-border money-transfer service for Airtel Money customers between the Democratic Republic of Congo (DRC), Zambia and Rwanda. Read More
Orange, Airtel enable money transfers between Côte d’Ivoire and Burkina FasoCustomers of Orange Money in Côte d’Ivoire can use their mobile phones to send money to customers of Airtel Money in Burkina Faso, and vice versa. Read More
KCB, Safaricom launch comprehensive new mobile banking productKCB Group and Safaricom have launched a new mobile banking product with what they describe as the most comprehensive features yet in the market. Read More
M-PESA: Vodacom Tanzania, Safaricom Kenya connect on transfersOver 7 million M-Pesa customers in Tanzania and over 18 million Safaricom customers in Kenya can now send and receive money from each other. Read More
Safaricom launches M-PESA SurepaySafaricom has announced a new service that will allow organisations to track funds sent to beneficiaries via its mobile money solution M-PESA. Read More
EcoSure hits 1 million usersIn just two months, Econet’s insurance service, EcoSure, has registered over one million new customers. Read More
Airtel, Visa extend mobile payments to seven countries in AfricaVisa and Bharti Airtel have announced a partnership to bring innovative mobile payment services to seven markets in Africa. Read More
FEATURED STORY2bn priced out of internet access
A new report from the Alliance for Affordable Internet shows that the price of broadband remains prohibitive for billions in developing and emerging countries, with women and rural dwellers hardest hit.
BEST READ NEWS
IN DEPTHVillagers get solar training at Barefoot College
The Botswana Human Resource Development Council (HRDC) has seconded seven semi-illiterate mostly Ngwatle villagers for a six month solar electrification training course at the famed Barefoot College in India.
COMPANY NEWSMicrosoft 4Afrika launches Biz4Afrika online SME hub
Microsoft 4Afrika used the opening of the Connected East Africa event in Diani, Kenya today to launch Biz4Afrika, an online hub providing Kenyan small and medium enterprises ...