Consolidated Bank of Kenya (CBK) is launching
a new “Agency Banking” service, which will deliver financial
services through POS terminals at retail outlets in rural locations
across the country.
The bank is planning to build a network of
enhanced POS terminals to be installed across rural retail outlets.
The terminals will be designed to deliver day-to-day banking
services, enabling the CBK to grow its client base outside urban
centres.
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The bank is also bringing its processing
in-house, implementing BPC Banking Technologies’ SmartVista
platform.
The Kenyan bank says that the Agency Banking
initiative is one of a number of new electronic payments programmes
it has in the pipeline. In deciding to take direct control over its
previously-outsourced payments operation, the bank hopes to
increase its efficiency and flexibility going forward.
“The migration of our card business from
an outsourced service to SmartVista is an important step in our
development of new card products and services,” said Geoffrey
Kiboro, Consolidated Bank of Kenya’s alternative business channels
manager. “We are now more independent and flexible in bringing new
card programmes to market and will enjoy additional competitive
advantage in the retail financial services market.”
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By GlobalData
