Connect with us

Hi, what are you looking for?


NIC launches online banking

NAIROBI, July 11 – NIC Bank has launched a new online banking system aimed at enabling its growing customer base gain easy access to its various services through the internet.

Dubbed NIC Online, the new system is fully transactional, meaning that users will not only be able to check their account balances online but will also be able to receive and make payments online.

Because the system is web-based, customers will be able to carry out transactions from any part of the world.

NIC Director of Corporate Banking Alan Dodd said the system was in line with the bank’s strategy to simplify the way it conducts its business.

“We have spent a lot of time establishing what our customers want and we believe this is a remarkable value proposition for them. NIC customers will now be able to make transactions from the comfort of their office desks without necessarily having to physically visit the bank,” said Dodd.

The system is also aimed at helping investors buy and sell shares through NIC Capital Securities, online.

“Our customers, including those in the Diaspora, now have a real chance of trading in stocks conveniently from their workplaces,” said Dodd. 

Dodd added that acquiring the new internet banking system was part of the NIC expansion strategy.

“In addition to plans to open new branches in Kisumu and Thika in coming months, we believe that NIC Online will give our customer an additional channel from which they can access the bank,” he said.

Advertisement. Scroll to continue reading.

Among the features is the e-Pay system, which allows corporate and other customers to make lump-sum transfers such as salaries and supplier payments and also send dividend and pension payments.  The system also allows customers to make local currency transfers to both internal NIC Bank and external accounts across the country.

Before the launch, NIC only offered internet banking with limited propositions; customers could only check statements and bank balances and make transfers strictly to NIC linked accounts.

“We are offering cost-effective convenience for the busy professional. One can now enjoy a wide range of banking facilities without actually having to step into our bank branch,” said Dodd.

Additionally, customers will receive email alerts – mainly for companies and organizations that have tier authorizations for transaction approvals.

He said other additional features include the e-Analysis and the Investment Planner tools. 

The e-Analysis is a loan forecaster which enables customers know how much they would pay for a certain loan within a designated repayment period.

The Investment Planner tool helps potential investors know how much they need to put in on a periodic basis within a target investment plan.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...