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Mobile Banking Apps: the Next Battleground for Customers 24 BUSINESS DAILY | Friday August 26, 2016 SPECIAL ADVERTISING SECTION MOBILOANS AND MONEY TRANSFER DIALS UP GROWTH Utility Bills Payment Mobile Money Transfer ATM withdrawals Mobiloans Services Bank of Africa innovates a Mobile banking apps: The next battleground for customers banking solution for Chamas By EVANS ONGWAE >>> [email protected] mobile banking could soon become as to retain existing customers and lure Bank, provides tools and features that Bank of Africa is cognizant of the value commonplace as Internet banking. new ones. enable customers to perform financial that is derived from innovative solutions obile technology and all the These days, prospective borrowers For example, Equity Bank has transactions on their mobile phones that are aligned to customer needs through devices it runs on – a host just need to click a few keys on their empowered investment groups, as well as make calls, send SMS and mobile banking. In line with this, the bank Msmartphones, tablets and cell phones and – if they qualify chamas and joint account holders to browse the internet. will soon roll out a service (e-chama) that is specifically tailor made for investment laptops – came to transform banking – credit is transferred into their enjoy greater convenience. They can Uptake of the mobile channel groups also locally known as Chamas. in Kenya. This story of change gathered mobile account. With this cash, they now withdraw cash from their Equity during the year grew by 115 per momentum a decade ago and has E-chama will allow “chama members” to can undertake several transactions. Bank accounts in a more convenient cent with 2,196,000 clients having make transactions at their convenience continued at a frenzied pace such that They can transfer some of it to other and secure way through a new feature registered on the Equitel platform while allowing for accountability of now getting loans via a mobile phone is people’s mobile phones or bank on the bank’s Equitel mobile money as at 30th June 2016. Equitel mobile deposits and withdrawals that are made. becoming the norm. accounts or even their own. They can platform. transactions grew by 271 per cent “This is an improved mobile banking The role of mobile technology in the pay a variety of bills and even pay for Equitel has introduced the during the year to reach 97.8 million platform that is accessible on Bank of banking industry is on an upward swing goods and services – without handling innovative “multiple approval” feature up from 26.4 million transactions. Africa’s Bmobile application and on USSD and consumers are reaping its benefits. physical cash at any one time. They that eliminates the need for account The value of transactions grew to (*987#). We are a bank that recognizes Consequently, banks equipped with the can also buy airtime to top up their signatories to physically meet to Sh149.3 billion up from Sh16.4 billion customer needs for convenient banking and have continually improved the service latest technological advancements are mobiles or even other associates’, withdraw cash or co-sign cheques. a growth of 811 per cent, reflecting offered on the mobile banking platform”, looking at building on this capability friends’ or relatives’ phones. Through the “multiple approval” the increasing confidence in and even further. said the Managing Director, Ronald Because of this convenience, banks feature users first originate a request acceptance of digital money. Marambii. E-chama is an unmatched The explosion in mobile apps has are now increasingly choosing mobile to withdraw cash on their Equitel The convenience and ease of service for our customers who sometimes simply taken service delivery in the platforms for innovative payment menu. The request is then sent to other accessing credit and loans through reside in different locations but have a banking industry to a whole new level. models and commerce capabilities. account signatories who in turn enter the Equitel mobile channel saw the common investment goal. Nowadays, one does not have to visit It may be expected that, as their PINs to approve the withdrawal number of loans disbursed increase This is part of the banks strategies a bank, stop by at an ATM, or carry a transactions move from branches request. by 308 per cent to 4,327,999 up from in giving its customers value addition plastic credit or debit card to make to cell phones, the quality of The “multiple approval” feature 1,061,000 out of which 3,557,913 services through innovation by primarily purchases. mobile banking apps will become allows account holders to use their loans worth Sh20.8 billion were providing them with the required technology, affordable financing and With cash transfers between mobile increasingly important and a point of PINs as their account signatures. disbursed through the Equitel mobile business advisory opportunities. phones increasingly becoming a reality, differentiation for banks as they battle Equitel, launched last year by Equity channel. Friday August 26, 2016 | BUSINESS DAILY 25 Friday August 26, 2016 | BUSINESS DAILY 26 SPECIAL ADVERTISING SECTION MOBILOANS AND MONEY TRANSFER DIALS UP GROWTH Utility Bills Payment Mobile Money Transfer ATM withdrawals Mobiloans Services Mco-op Cash offers more than access to Co-op Bank account co-op Cash is Co-operative phone, a customer can: account through Mpesa paybill The full list of schools • Check balance or get a mini 400200 and account numbers Bank’s upgraded mobile banking statement for existing Co-op Bank 2. School fees payment to schools are available on the Co- Mservice, which enables a variety accounts banking with Co-operative bank operative Bank website: of banking, money transfer and payment • Get full account statements up to through Mpesa paybill 400222. www.co-opbank.co.ke 3 months, sent via email 3. Bulk payment of salaries, transactions. Apart from enabling • Withdraw cash from a Co-op ATM wages, and dividends. account holders to access their accounts or Agent without an ATM card Payments can be made to • Apply for an instant salary One does not need via mobile phone it is also an independent any Bank account or Mobile advance (flexi loan) a Co-op Bank account Number account whose account number is the • Send money to any Mpesa or 4. Access of float for MPesa to register for MCo- mobile number. Airtel mobile number and Airtel agents from any • Transfer money to other Co-op opcash. All they need Co-op bank branch One does not need a Co-op Bank account accounts or local bank accounts is a National ID card to register for MCo-opcash. All they need • Buy airtime For any query on MCo-opcash is a National ID card and a registered • Pay utility bills including KPLC and a registered mobile or in case MCo-op Cash PIN mobile number on any network. Once post paid, DSTV, ZUKU, Startimes number on any network. is forgotten, a customer may registration is complete, a PIN is sent via • Pay school fees, rent, and other contact customer service on 0703 SMS. A customer can access MCo-opcash payments Once registration is 027000 / 020 2776000, email: by dialing *667# or through the MCo-op complete, a PIN is sent [email protected] or cash app which they can download from Other Mobile banking related services via SMS. [email protected] their appstore. provided by the Bank include: or visit the Co-operative Bank With MCo-op Cash on their mobile 1. Deposit into any Co-op Bank website: www.co-opbank.co.ke [email protected] Friday August 26, 2016 | BUSINESS DAILY 27 SPECIAL ADVERTISING SECTION MOBILOANS AND MONEY ���� TRANSFER DIALS UP GROWTH Utility Bills Payment Mobile Money Transfer ATM withdrawals Mobiloans Services Why KCB App has been voted the best in E. Africa CB launched the biggest banking and Pay with KCB. These points can be you need to pay a bill on credit, KCB money and keep each other accountable redeemed for Airtime, banking services App is the only banking app that lets you through the KCB App platform. App in Kenya dubbed “KCB App”. The at any KCB Branch countrywide, at local pay for your bills on credit, to be repaid The KCB App is the pioneering mobile Krevolutionary, bold and modern mobile merchants such as Shell petrol stations later. application that allows you to open application boasts an intuitive App design with and Jumia and over 9000 airlines and With increased security features such accounts online. It is one of the few 450,000 hotels. as password-protected access to your banking apps that is open for use to both an unrivaled user experience. Recognized as the best biller payment bank account from the App, the KCB customers and non-customers who enjoy a on mobile application, the KCB App allows App opens its users to a new world seamless experience on the App. Features It has been voted as the “Best banking App in the KCB customer to pay key monthly bills of possibilities in the mobile banking such as the GPS tracker, ATM and branch Eastern Africa” by leading tech bloggers in Kenya. such as KPLC (both postpaid and prepaid space. The uptake of the KCB App has locator, forex rates and stock market are The KCB App, is the most downloaded banking account holders), DSTv, and Zuku. Not been tremendous, with an Android App available to KCB non-customers across App in Eastern Africa, with over 200,000 forgetting popular merchants such as standing of 4.4 out of 5.0. the country. downloads and up to 40,000 transactions done Jumia and Jambojet, which can also be The App also features Lipa Karo, the Available on Android, Windows, daily.
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