Kenya’s Financial Service Industry to Introduce Paperless Transactions

Sybrin has partnered with the Kenya Bankers Association (KBA) and the Central Bank of Kenya (CBK) for paperless IT solutions designed to lead to efficient operations, lower costs, improved compliance and better knowledge management.

Speaking during a one-day conference for its customers in Nairobi, Daniel Parreira, sales director of Sybrin Systems Africa, said the paperless solution will enable banks and other financial Institutions to move from paper to use of biometrics in all their front office transactions.

“Banks are seeing opportunities for further paper reductions that can lead to greater operational efficiency, reduced costs and increased customer satisfaction,” he said. “Statements can be availed sooner, transactions are searchable, and the risk of customers’ identification is lowered”.

Instead of having to fill in paperwork, bank customers will get machine-printed receipts as at a supermarket, designed to increase efficiency in service provision and cost saving for banks.

Addressing the same conference, Wilson Some, director of Sybrin Kenya, said the paperless financial solution will also help banks become more environmentally friendly.

“The biometrics solution will also go a long way in checking fraud as customers will need to be identified through their fingerprints and in some cases facial recognition,” he said.

Originally published on Human IPO.