KCB Bank Group has today made a key milestone in its technology-driven innovation targeting the unbanked population by launching a new product dubbed KCB M-Benki, the first in Kenya and the region.
KCB M-Benki, will be accessed through the phone, and it allows any individual to easily open a bank account through the KCB Mobi Bank platform hassle-free. This is paperless banking that is easy, quick and gives instant access to all banking services once the registration is validated online using the services.
“This mobile-banking platform will accelerate the reach to the unbanked in the country in a convenient, easy and simple manner without personally visiting a branch to open a bank account supporting our financial inclusion agenda,” KCB Group CEO Joshua Oigara said.
KCB M-Benki is a way of opening a KCB account through the phone and customers will easily access banking services through KCB Mobi Bank. This in turn allows customers to easily access services anywhere in the globe whether they have a KCB account or not.
To open an M-Benki account, any one needs to send a request to Safaricom M-PESA menu, Payment Services, Pay Bill, enter pay bill number 522522, Business Number (Identification number) then amount to be deposited in the account then press the sent button.
The KCB M-Benki was launched by the Cabinet Secretary Ministry of Information, Communications and Technology, Hon. Dr. Fred Matiang’i who said that this has demystified banking and simplifies the process of opening a bank account with your phone and you instantly access all other services, wherever you are.
“As a Ministry we are encouraged by the growing sense of innovation in the financial sector, to increase access to banking services in all the 47 counties in Kenya. This has been made possible through the partnership of a mobile operator- Safaricom, the government –Department of Immigration and KCB to allow for this product to fully function in a seamless manner,” he added.
The KCB Group Chairman, Mr. Ngeny Biwott, said that telecommunications and banking sectors will continue to complement each other through strategic partnerships to reach marginalized rural markets through appropriate technological innovations in the coming years.
“For us in KCB Bank Group and our partners, this new product is a major stride to be celebrated as we enter into “Kenya at 50” celebrations in December,” he added.
