The deals give bank’s customers access to 1317ATMs across the region and 99 Post Bank Branches and 800 mashinani agents across the country.
Nairobi: Wednesday, May 21st, 2014:
National Bank has announced strategic partnerships with Kenswitch, the national payments switch provider, and Post Bank, as it moves to enhance its distribution networks across the country. The new partnerships will provide all National Bank customers access to 1,200 Kenswitch’s ATMs services across East and Central Africa and also provision of agency banking services at the 99 Post Bank branches and 800 Post Bank mashinani Agents countrywide.
Speaking at the signing ceremony National Bank Managing Director Mr. Munir Sheikh Ahmed said that the partnerships is in tandem with the bank’s growth strategy as outlined in its strategic transformation programme aimed and making National Bank tier 1 bank by the year 2017. “As a bank, we have expanded our distribution network throughout the country by opening more branches and deployed a full range of non-branch channels including agent banking, offsite ATMs, mobile banking, electronic banking and other innovative channels as we answer to the needs of our customers.
The partnerships we have signed today will provide easy and convenient access to unlimited banking services to National Bank’s customers and thereby, boosts our presence countrywide and across East and Central African region,” said Mr. Ahmed. Nation Bank has 70 branches which the bank aims to increase to 80 by the end of the year. The bank also has 117 ATMs and 110 agents across the country. The deal now takes National Bank cash access points in the region to 70 branches, 1069 agents, and 1317 ATMS. The partnership with Kenswitch National Bank will now be linked to the national payment switch and will be interconnected with the participating member banks for their customers to access their infrastructure.
Speaking during the ceremony, Kenswitch Managing Director Mr. George Wainaina stated that the partnership with National Bank has come at a time when numerous financial institutions are appreciating the need for leveraging on technology to promote financial inclusion to geographical areas that are hard to reach through conventional banking. “The Kenyan financial sector is undergoing dynamic transformation thus creating the need for alternative delivery channels to promote easy access to financial products and services,” he said. Post Bank’s Managing Director, Dr. Nyambura Koigi, said the dynamism in the banking sector had allowed for innovation and collaborations as banks seeks different ways to meet the needs of different market segments. “Indeed, when three partners come together for the common good of the customer, it is a testament that the banking industry is unified to push the agenda for financial inclusion of all Kenyans.
This partnership is strategic as it will allow National bank customers’ easy access to banking services in areas where the bank has not set base but are already served by Post Bank, therefore overcoming proximity challenges.” National Bank will access ATM services at all Kenswitch at a reduced fees of Ksh30; similar to what the bank charges for use of its ATMs. They will also be able to make cash deposits and withdrawals of up to Ksh3 million, obtain mini statements and make balance inquiries at any of the 99 Post Bank branches 800 Mashinani Agents(countrywide. Transactions at Post Bank will however attract a small premium.