Equatorial Commercial Bank (ECB) and Airtel Kenya have announced a partnership that will see ECB customers’ access mobile banking services on their mobile phones via the Airtel Money platform as part of the bank’s growth strategy to expand its retail services and provide their clients with convenient access to remote banking services.
As part of ECB’s plans to shift from a focus on corporate banking into retail, this partnership is the first of many opportunities that will allow ECB rope in the low-end and SME market by providing them with remote access to their bank accounts that will allow the banks customers to make deposits and withdrawals cheaply, quickly, conveniently and securely without having to go to the banking hall.
The service will allow the bank to provide its clients with e-commerce solutions including online payments, online banking, utility bill payments for electricity, DSTV, and water.
ECB’s MD Sammy Itemere commended the partnership saying this is a necessary step for the bank as part of its growth plans, adding that the partnership with Aritel Money is strategic in the digital expansion of the bank as M-banking takes on a leading role in the country.
Airtel Kenya MD Shivan Bhargava said the partnership with Equatorial Bank marked yet another milestone in deepening the accessibility of Airtel Money to Airtel customers throughout Kenya and further served to increase it offering to its clients.
Since the Airtel Money process is fully automated, payments are reflected almost in real-time thus providing customers a fast and more secure mode of carrying out transactions.