The role of mobile technology in the banking industry has grown rapidly in recent years and has caused massive transformation in that sector. Many if not all of the 40 banks in Kenya have embraced integration with mobile application platforms and Internet banking. The banks have made mobile banking accessible to their clients either through a mobile App or the use of USSD code. Some examples include:
KCB Mobi bank
This is KCB’s mobile banking platform. It is available to both customers and non-customers of KCB bank. It can be accessed through downloading the KCB App or by using the USSD code *544# . The KCB mobile App is available to all mobile platforms that is Android, Blackberry, Windows and IOS.
What can you do with the KCB mobile App?
The KCB Mobile App can be used to access banking services such as:
Checking for your account balances
Requesting for mini-statements
Transferring money from your account to another account
Paying monthly bills such as KPLC,DSTV and Zuku.
It is important to note that the customer can also pay their bills on credit from the bank which they will repay at a later date.
The KCB Mobi Bank App allows the customer not only to pay bills but it also has a feature where one can be reminded that his or her bills are due. A point worth noting is that KCB App users are awarded with loyalty points which they can redeem for airtime or banking services at any KCB branch across the country.
This is Equity bank’s mobile banking service that allows customers to access their bank via their mobile phones. It’s available through the Eazzy App or a USSD code (*247#). Eazzy 24/7 is different from Equitel because Eazzy 24/7 is Equity bank’s mobile banking platform while Equitel is Equity banks mobile virtual network operator (MVNO).
The MVNO, that is the mobile virtual network operator, is a wireless communication service provider who leases wireless communication from a mobile network operator and resells it under its own brand. In this case Equity bank leased the wireless communication from Airtel.
What can you do with the Eazzy 24/7?
With the Eazzy 24/7 App a customer can access their account services such as:
- Money withdrawals and deposits
- Balance inquiries
- Mini-statement requests,
- Loan request status inquiry and payments
- Pay for bills goods and services.
Customers who access the mobile banking services via their Equitel line, have a joint accounts or a Chama account can also use their individual pins to approve group transactions.
This is Cooperative bank’s mobile banking platform. It is available to both customers and non-customers of the bank. It can be accessed through downloading the MCo-op App or by using the USSD code *667# . The MCo-op mobile App is available to all mobile platforms that is Android, Blackberry, windows and the IOS.
What can you do with the MCo-op cash App?
With the Mco-op App on their mobile phones customers can:
- Get access account services such as; cash withdrawals, cash deposits using the pay bill no.400200, balance inquiry, saving, mini statement request. Customers can also make cordless
- Pay bills such as KPLC, DSTV, Startimes and Zuku. Individuals can also make payments for goods and services.
- Make bulk payments and also schools fees payments to schools with Co-operative bank accounts.
- Apply for Flexi loans (Salary Advance).
- Transfer money to other accounts within the Cooperative bank as well as other local banks
Commercial Bank of Africa
The CBA mobile banking service can be accessed through downloading the CBA App or by using the USSD code *654# . The CBA mobile App is available to all mobile platforms that is the Android, BlackBerry, windows and the IOS.
What can you do with the CBA mobile App?
Once the customer has registered and downloaded the CBA Mobile App, he/she can access account services such as:
- Balance inquiry
- Request for mini-statements
- Request for cheque books and new PINs
- Paying their utility bills
- Making internal and external cash transfers
- Getting information on branch and ATM locations.
Standard Chartered Bank
For a customer to enjoy the Standard Chartered mobile banking service he needs to register at the nearest bank branch next to him or her. Thereafter,they can access the service by downloading the Standard chartered mobile App or by using the USSD code*722#. The mobile App is available to all mobile platforms that is on Android, BlackBerry, windows and the IOS.
What can you do with the Standard chartered Mobile App?
Once the customer has registered and downloaded the Standard chartered mobile App or dialled the USSD code, they can start enjoying services such as:
- Requesting for a balance inquiry and mini-statement
- Applying for loans and credit cards
- Paying bills
- Internal and external money transfer
“Banking is essential, banks are not,” Bill Gates, then CEO of Microsoft, famously said in 1994. Mobile phones, however, are essential. When it comes to banking ,more and more people are turning to mobile banking solutions. This is because mobile banking solutions are time saving and convenient . As many branch transactions are moving from branches to cell phones,Kenyan banks need to differentiate their Mobile banking platforms and also improve on their quality and features so as to retain their customers and lure others.