Kenya: NBK Partners With Airtel to Launch Mobile Banking Service

Money Transfer

Airtel Kenya and National Bank of Kenya have partnered to launch mobile banking services through Airtel Money service.

The service will enable National Bank customers transfer funds to other National bank accounts and transfer money into the Airtel wallet.

According to Airtel Kenya CEO Adil El Youssefi, customers will also be able to transfer money from their Airtel accounts into their bank's account.

"This is a mobile banking service that will allow Airtel customers to access their National Bank accounts for free for the first 3 months with minimal charges after the 3-month campaign," said El Youssefi.

"This service gives customers the freedom to manage their bank account from their phone thus providing that much needed convenience and simplify the banking process. As technology and financial services continue to merge we have no doubt that this partnership will be a great step towards improving the lives of our customers," he added.

National Bank of Kenya Managing Director Munir Ahmed added that customers will also be able to view their accounts, manage their accounts and make bill payments.

Ahmed explained that the move was part of the bank's agenda of strategically leveraging on innovation and technology in a bid to expand the scope and reach of the bank's distribution network.

"We are therefore providing Kenyans with faster and convenient transactions, 24/7 from our new Mobile Banking - NatMobile - and Internet Banking - NatConnect - platforms. Our focus remains to deliver innovative channels through which we can efficiently provide services to all customers," he said.
 The service is set to open new doors for the two firms.

For starters, they will share their agents with National Bank agents offering Airtel Money services and Airtel agents offering National Bank services.

The service will also be extended to branches where Airtel Money agents and customers will be able to access Airtel Money services via National Bank branches.
Individually, National Bank stands to benefit in that it will be exposed to Airtel's 3 million subscribers. It will also increase its physical reach and have footprint in areas where it does not have ATMs and bank branches.

On the other hand, Airtel is set to benefit from the partnership through the convenience it will be offering to National Bank account holders.

"This partnership will see us deepen our strategic partnership in an area where such collaborations are already paying off. And now with a dedicated mobile-banking service with the most comprehensive offering, the partnership will widen the possibilities of what customers can do using their phones," Ahmed said.

National Bank is in a similar partnership with Safaricom and hopes to replicate the mobile with other telcos in the market.

 To access the service, Airtel customers will need to dial *625# and follow the instructions.
Source: Capital FM 14 January 2016