The Technical Assistance program is included in the Public Private Partnership (PPP) Framework between Rabo International Advisory Services (RIAS) and the Netherlands Ministry of Foreign Affairs. This partnership will help the bank continue its transformation into a full-fledged retail and commercial bank.
The partnership is aimed at consolidating current efforts by Chase Bank to increase access to financial services in Kenya through financial inclusion, private sector development, SME and agricultural finance, women, youth banking and the development of innovative distribution channels.
Speaking at the signing ceremony, Chase Bank CEO Paul Njaga reiterated the bank’s commitment to increasing access to financial services in Kenya.
“By committing to this initiative, Chase bank underscores our commitment to broaden the impact and scope of our proposition to our customers by increasing access to financial services in Kenya especially to the youth, women entrepreneurs, agribusiness and SMEs engaged in sectors that have the highest impact on the lives of a majority of Kenyans”.
The 24 month project will enhance the bank’s customer relationship management capabilities, refine sales processes to ensure increased use of the bank’s services, cross sell and improve product redesign to include propositions for women in business and the youth.
This project will improve Chase Bank’s SME proposition by increasing its capabilities in processes, support systems and credit scoring for medium and small business customers. It will also strengthen the agri-finance strategy of Chase Bank in selected agricultural segments through knowledge build-up, product development and implementation of value chain finance in close cooperation with Rafiki Micro-Finance.
Other areas in which the project is expected to improve is the expansion of the banks outreach/distribution channels and the linkage of value chains in rural areas with low cost distribution models through cost efficient and innovative techniques such as agency banking, mobile banking, e-wallet solutions and online banking solutions.
Chase Bank has registered impressive growth in the previous years. “Our business partners are central to our business. We leverage on their capacity and capabilities to develop and maintain long term relationships,” Njaga stated.
Chase bank’s customer centric approach has seen the bank develop customized financial solutions to different market segments. From Chase Mosaic targeted at unique community based businesses and retail groups to Diaspora banking in recognition of the role Kenyans in the Diaspora are playing in the development of our country to mention a few. This partnership is expected to continue Chase Banks development of market focused solutions.