Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
The Bank becomes the second entity to launch mobile traded bonds and bills after the Kenyan Government launched the world’s first Treasury bond in 2015 offered exclusively via mobile phone and in a bid to stimulate public participation in the capital markets, raise money cheaply and boost the national savings rate/FILE


Stanchart mobile banking takes new dimension

NAIROBI, Kenya,Sep 22 – Standard Chartered Bank has upgraded its electronic payment platform as it seeks to make its services more compatible with mobile phone users.

The bank is using a platform developed by software firm Cellulant, dubbed Release 3.0, which is a mobile commerce platform that enables banking, merchant services, digital services, bulk payments and agency banking via applications on Android
(Google), IOS (apple) and other channels such as USSD, SMS and Java applications.

Standard Chartered Kenya’s Consumer Banking Director, Kariuki Ngari, said the bank’s decision to upgrade to the new mobile commerce platform was based on its robustness, which allows the bank to tailor different products for various markets across Africa.

The new platform allows customers to initiate transactions via SMS message, which can then be scanned and sent to a mobile phone and stored for several days if the phone is not activated or within range.

“The bank’s aim is to more than triple mobile commerce usage as an alternative delivery channel for our range of services as part of our strategic commitment to meet our discerning customers’ needs more conveniently,” Ngari said.

The Release 3.0 is a highly robust technical platform that integrates to different core banking systems with security features on encryption, monitoring and channel management business tools.

The platform also aggregates banks channels such as ATM and Internet banking to enhance customer’s user experience and enable services such as card less withdrawals, secure PIN management, SMS alerts on mobile for ATM, bill presentment and payment.

Cellulant drives mobile commerce in 10 countries including Nigeria, Ghana, Tanzania and Mauritius and is one of the first companies to be issued with the Mobile payments license in Nigeria.

It has also been powering mobile banking for Standard Chartered Bank for about three years across five countries in Africa and is looking to rolling this across all Standard Chartered Bank markets in Africa.

Cellulant Chief Business Officer Paul Ndichu said the firm invests 15 percent of its annual revenues from all its markets in Research and Development to drive product enhancement and new mobile commerce platforms that enables value chains.

Advertisement. Scroll to continue reading.

“We have built a mobile commerce network that is connected to different platforms across different value chains in Africa such as banks, Merchant bill payment gateways and content delivery channels to deliver a transformational experience on mobile,” Ndichu said.

The software firm invested Sh100 million in developing the new mobile platform.

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


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, 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...