Barclays unveils internet banking service

December 7, 2010

, NAIROBI, Kenya, Dec 7 – In a move to diversify channels through which customers can conduct financial transactions, Barclays Bank of Kenya Ltd (Barclays Kenya) has unveiled a new Internet banking service.

Speaking during the launch event in Nairobi, the Barclays Kenya Managing Director, Adan Mohamed, said that the launch is underpinned by the Bank’s objective to align products and services with evolving customer needs and lifestyles.

 “In our efforts to facilitate greater ease of transactions, over the past two years Barclays has made several investments in our information technology and communications structure,” said Mr Mohamed. “These investments include upgrading our credit card system, and most recently transitioning our core banking system to a new, state-of-the-art platform. Furthermore, in October Barclays launched an M-PESA partnership with Safaricom.”

“Our new online service is a significant step for Barclays – one that reinforces our commitment to making our customers lives much easier.  We have traditionally provided Internet banking to commercial clients; and now with the commissioning of our new core banking platform, we can provide this convenient channel to all Barclay’s customers, including consumers, entrepreneurs and small business owners,” he said.

It is estimated that there are approximately 3.5 million Internet users in Kenya and this number is projected to significantly increase in both rural and urban settings with the penetration of more affordable broadband and mobile phone Internet access. Barclays therefore intends to leverage this channel to reach more customers – both locally and within the EAC region – with a secure and convenient online service.

Mr Mohamed said that through the Barclays Internet banking service, customers will have access to their accounts on-line, monitor account activities, check status of cheques, transfer funds on-line for accounts in Kenya, and view their term deposits. He added that the service provides Barclays Kenya with a cost-effective channel to serve customers.

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