Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
HFC MD Sam Waweru (left) showing HF Group Chairman Steve Mainda (centre) HF Group Managing Director Frank Ireri how to activate the HF Whizz the banks new digital banking solution/COURTESY

Finance

HFC launches digital banking solution to boost growth

HFC MD Sam Waweru (left) showing HF Group Chairman Steve Mainda (centre) HF Group Managing Director Frank Ireri how to activate the HF Whizz the banks new digital banking solution/COURTESY

NAIROBI, Kenya, Jul 24 – HFC, the banking subsidiary of HF Group has launched a digital financial services platform dubbed “HF Whizz” that is set to accelerate the growth of the bank’s digital banking strategy.

This announcement marks a major advancement of HFC’s strategic focus on digital banking, which brings together years of technological research and development and an expansive partner network.

Speaking at the unveiling of the new platform, HFC Managing Director Sam Waweru said that the bank’s digital banking platform is part of its business strategy to diversify and grow its retail business while it addresses consumer demand for banking on the go.

“Through HF Whizz, we want to deliver a frictionless digital experience across all our customer touchpoints with greater agility. It is our vision that the digital banking platform will enhance our customers experience, provide comprehensive business functionality and drive profitability,” said Waweru.

The platform has been developed to deliver on simplicity and speed of performance, and allows users to open a bank account, access their accounts and perform end-to-end banking transactions directly from their smart phones.

“The platform will enable customers to instantly open an account using their national identification card, transfer up to Sh200,000 daily, purchase goods and services and make deposits through the PAYBILL No. 100400. In addition, the platform provides lifestyle value-add functionalities such as budgeting, real time settlement, and free limitless bank account access among others. In short, this platform affords our customers functionalities that will help them manage their bank accounts remotely,” Waweru explained.

To castigate fraud, the digital platform has multiple built-in security layers including an advanced account authentication feature to ensure secure transactions.

With over 90 percent mobile phone penetration in Kenya and an estimated Sh1.22 trillion worth of transactions in the Q2 of 2017, HFC seeks to be at the forefront in the next generation of financial services providers.

HFC has invested heavily in innovation targeted at meeting changing consumer needs and providing solutions that require minimal effort by its customers.

“With our digital banking platform, we want to deliver value to our customers while demonstrating the technological benefits to our shareholders. We have the right technology in place to manage any market shifts and industry changes,” Waweru said.

Advertisement. Scroll to continue reading.

HFC is the banking and mortgage lending subsidiary of HF Group (not Housing Finance Group) – an integrated financial services provider with interest in real estate development, mortgage, banking and insurance. HFC is currently pursuing a growth strategy that includes customer recruitment, deposit mobilisation and branch expansion with the aim of becoming a top tier bank by 2020.

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...

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

Coronavirus

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

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...