Kenya’s fastest growing micro-lender, Jamii Bora Bank Limited (JBL), and the country’s premier savings bank, Postbank, have launched an agency banking relationship to enable JBL to reach more customers across the country.
The relationship will se JBL use Postbank’s 9 branches spread across Kenya to provide banking and financial services to its customers in various parts of the country.
Speaking at the launch, Jamii Bora Bank Chief Executive, Samuel Kimani, said the launch marked an in important milestone in the bank’s quest to expand its reach and grow its business.
“This agency banking relationship will enable our customers to aces their funds and transact with us through the Postbank infrastructure across the country,” said Kimani.
Kimani said with its wide network of branches spread across 47 counties, Kenswitch-enabled ATMs and point-of-sale terminals, Postbank was an ideal partner with whom to deliver JBL’s products and services to more customers.
“As an agency of JBL, Postbank will facilitate cash deposits and withdrawals as well as balance enquiries for our customers through its ATMs and point of sale terminals,” said Kimani.
During the launch, Postbank acting Managing Director, Anne Karanja, said the partnership was part of Postbank’s efforts to engender financial inclusion in its business efforts.
Karanja said the partnership will facilitate Jamii Bora Bank’s customers to aces financial services through its countrywide infrastructure thereby enhancing their customer experience. She said Postbank had realigned itself with the devolved system of government thus increasing opportunities for both banks to reach the unbanked Kenyans in all 47 counties.
“Jamii Bora Bank will leverage on our vast network to reach their customers without needing to expand its own infrastructure hence cutting down on the cost of operations,” added Karanja.
Both JBL and Postbank are members of Kenya’s leading financial payments system, Kenswitch, which enables their customers to aces their funds through the Kenswitch- enabled ATM network and point of sale terminals. Through the Kenswitch ATMs, customers are able to make deposits, withdraw cash and make balance enquiries.
