Kenya Commercial Bank Launches In-House Processing Centre Built on TranzWare from Compass Plus

Posted on by wademinnie | 10878 Views | 6 min read

Compass Plus, an international provider of retail banking and electronic payments software to processors and financial institutions, has announced that Kenya Commercial Bank, has launched its in-house processing centre built on TranzWare products from Compass Plus. Kenya Commercial Bank set out to replace its entire retail banking system, previously built on separate solutions from different

Equity Bank Unveils MVNO Strategy and Rollout Plan

Posted on by wademinnie | 9363 Views | 24 min read

Equity Bank has unveiled its Mobile Virtual Network Operator (MVNO) strategy and rollout plan that is set to launch in July 2014. Equity Bank has hailed their MVNO as the ‘next big thing’: Equity 3.0. The Equity MVNO accords Equity Bank the opportunity to continue its mission of furthering financial inclusion and innovative service offerings

Airtel Kenya Introduces Airtel Money Self-Help PIN Reset Service

Posted on by wademinnie | 9114 Views | 3 min read

Airtel Kenya has introduced a self-help PIN reset service allowing Airtel Money customers to reset their access PINs instantly from their handsets without having to contact the call centre. To access the service customers will be required to register a secret password with Airtel Money in advance, which will be used to validate future PIN

National Bank Taps into Kenswitch, Post Bank Networks

Posted on by wademinnie | 10408 Views | 12 min read

National Bank has announced strategic partnerships with Kenswitch, the national payments switch provider, and Post Bank, as it moves to enhance its distribution networks across the country. The new partnerships will provide all National Bank customers access to 1,200 Kenswitch’s ATMs services across East and Central Africa and also provision of agency banking services at

Safaricom’s M-Shwari has 7m Subscribers

Posted on by wademinnie | 8674 Views | 6 min read

Over seven million subscribers are now using Kenyan mobile operator Safaricom’s microfinance platform M-Shwari, according to George Ndegwa from the operator’s financial services division. Ndegwa was speaking at the 2014 Mobile Money and Digital Payments conference that kicked off in Johannesburg, South Africa yesterday. M-Shwari allows users to make use of the M-Pesa system to

Kenyan Remittances Up 16%, Boosted by Electronic Platforms

Posted on by wademinnie | 9301 Views | 7 min read

Remittances to Kenya have increased 16 per cent over the past year, according to the Central Bank of Kenya (CBK), boosted by the growth in remittances through the likes of Western Union and M-Pesa. The bank said the country has received nearly US$120 million from Kenyan diaspora, up US$17 million from last year. “Remittance inflows

Kopo Kopo Launches “Grow” Merchant Cash Advance Service

Posted on by wademinnie | 7039 Views | 7 min read

Kopo Kopo, a leading provider of business management software with over 10,000 clients in Kenya, has announced its new merchant cash advance service called “Grow.” Unlike a traditional bank loan, Grow is designed to help businesses grow and prosper by accommodating their cash flow cycles. Grow cash advances are disbursed in minutes, require no personal

E-commerce in Nigeria Still in its Infancy – Faleye

Posted on by wademinnie | 10618 Views | 8 min read

Nigeria’s e-commerce sector is still in its infancy compared to those of developed countries in spite of the success of the likes of Konga and Jumia, according to Oluseye Faleye, founder of TopDownDeals. Faleye believes TopDownDeals.com.ng filling a vacuum by providing a platform for gamers in the country to purchase offerings from international providers at affordable prices.

Equity Doubles Over-the-Counter Withdrawal Fees

Posted on by wademinnie | 9682 Views | 7 min read

Equity Bank has doubled their over the counter withdrawal fees recently in a bid to encourage the use of alternative banking channels such as agency outlets and mobile banking. Equity hopes that this will decrease congestion in bank branches and reduce their teller to customer ratio. The cash withdrawal charges have gone up from Sh50

M-Pesa Customers to Benefit From Instantaneous Mobile Banking

Posted on by wademinnie | 5911 Views | 7 min read

M-PESA customers will now be able to make mobile banking transactions instantaneously. This follows a system upgrade to the Application Programmable Interface (API) which has resulted in a reduction of transaction time from an average of 2 hours to less than 30 seconds. This will in effect help entrench the move towards a cash-lite society