Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Kenya

Family Bank joins Kenyan mobile platform

NAIROBI, Kenya, June 3- Kenya continues to claim its place as the regional financial hub as institutions come up with products geared toward extending formal banking services to the millions of financially excluded Kenyans.

Family Bank is the latest to introduce a mobile phone banking platform that will enable its customers to, among others, deposit money into their accounts, access salary advances and at the same time facilitate real time deposits from Safaricom’s money transfer service, M-PESA directly to an account.

“With the success launch of this mobile banking platform, we will now be able to introduce competitive mobile based products that over time will provide our customers with financial independence at their finger-tips and give them the freedom to transact on a 24/7 basis,” said Chief Executive Peter Kinyanjui.

The application suite dubbed Pesa Pap! will also decongest banking halls while for rural customers, the service will save them the hassle of traveling long distances to the bank branches.

“By bridging the gap between the M-PESA function on their phones and their bank account, Family Bank customers will be able to enjoy the convenience and security of transferring money through M-PESA at the click of their phone,” he added.

The launch of this service, the CEO pointed out, demonstrates Family Bank’s commitment to making modern banking services readily accessible to all Kenyans.

Together with their successful Mwananchi Account that has zero fees, Pesa Pap! would help provide Kenyans with affordable and accessible financial services from the convenience of their mobile handset.

This, Mr Kinyanjui added, was in line with the bank’s heritage as an institution that serves those at the bottom of the pyramid.

This product comes into the market barely three weeks after Safaricom partnered with Equity Bank to launch an account will make it possible for M-PESA users to transfer funds directly into their Equity Bank account using their phones.
 

Click to comment
Advertisement

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...

Headlines

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

Kenya

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

Coronavirus

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

Coronavirus

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