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.
Brief Notes
KCB Bank Group has been in operations in Kenya and the region for more than 116 years. Our vast regional network and contact centre enables our customers to reach us 24 hrs a day, 7 days a week even on holidays. Recently the Bank launched the Queue Management System (QMS) and is now availed in over 16 branches from Nairobi (Sarit, Kipande, Moi, Ind Area), Mombasa T-Square, Mvita, Kilindini, Nakuru, Kericho, Kisumu, Eldoret Main, Kisii, Nyeri to Thika amongst others.
The Bank also provides e-solutions for taxes in Kenya, Uganda, Rwanda and will soon complete Tanzania.
Through the KCB Foundation, the Bank runs key programs such as the Dialysis machine & Kidney program have enabled support for Kenyatta National Hospital to successfully perform the first kidney transplants in East & Central Africa for 10 children who are now doing well.
KCB M-Benki now revolutionizes banking in Kenya and takes it to another level in terms of innovation, convenience, access and extended banking hours. KCB becomes the first Bank in Kenya to roll this out to the market and will support the following national agendas for our economy:
Financial inclusion –access is now spread out and one can do it for themselves and it will bring a larger population into formal banking.
Benefit the small and medium enterprises (SMEs), youth, women and the micro sector to enjoy formal banking services.
Less paper usage due to formal applications and therefore save on paper and our environment in the long term. The lengthy cumbersome process of application has been shortened to minutes.
Demonstrates the success of partnerships in the telecommunications, government, regulatory and banking sectors.
Growth in alternative banking channels.
To open a Mobi Plus account, customers will either;
Send a request through M-Pesa pay bill no 522522 with their ID number as the account number or,
Dial *522#, enter their National I.D number, full names and follow the prompts leading to receipt of a T24 account number and a PIN for Mobi Bank.
Enter any amount e.g. KShs. 50 and above, and then your MPESA PIN,
You will receive SMS from Mpesa confirming your money has been sent to KCB.
Details are verified, and customer gets two smses: Mobi + account number and Mobi log in details. You can start using the account immediately.
Banking is not somewhere you go but do for yourself.
For KCB innovation has been a journey for the past six years. Now we have mobile banking, internet banking, diaspora banking, agency banking, ATM services and money transfer services. Therefore the customer has options in what they prefer as their convenience.
The next innovation is Me Banking services ‘coming soon’ - refreshed internet banking will provide delightful user experience and wider range of features, exciting & truly unique designs for our chip & pin cards and a host of revolutionary services at Mtaani agents.
