KCB, Western Union launch mobile self-service money transfer service




KCB Group’s Kenyan subsidiary and Western Union have launched a mobile-phone-based money transfer service. KCB’s Kenya-based customers can now use the KCB mobile banking option to direct money transferred from abroad via Western Union services into their bank account, by dialing *522# from their mobile phone and following the simple on-screen instructions. Customers will be able to enjoy extended service availability via KCB mobile banking as funds are delivered into account anytime, anywhere.

KCB customers can also pick up transactions sent via the Western Union Money Transfer service from all KCB locations, or call KCB Call center to direct the money into their KCB account.

“We are intensifying our level of investment in digital banking, to give our customers faster and more convenient services, understanding that the future of banking is in digital,” said Edward Ndichu, KCB Head of Digital Financial Services and Mobile Payments.

“Going forward, our focus is to provide seamless and value-added banking and financial services in the markets where we operate. We believe that leveraging relationships with trusted brands like Western Union is an important way to facilitate access to banking services for both banked and non-banked consumers, and take financial inclusion to the next level,” he added.

This new service is available 24 hours a day, 7 days a week. Customers can also access Western Union service by calling the 24 hour KCB Call Centre or by visiting any of the Bank’s over 190 branches in Kenya.

“We are pleased to offer even more ways for consumers to receive funds, through digital banking channels that meet the changing needs of consumers,” said Richard Malcolm, Regional VP of Southern and East Africa for Western Union.

 “This represents a natural evolution in Western Union’s multi-channel strategy to reach new digital-savvy, banked and mobile-enabled consumers,” added Malcom.

The collaboration between KCB and Western Union demonstrates the mutual commitment to providing reliable and convenient money transfer services to existing and new customers.

During the last few years, mobile banking and new electronic platforms have boosted the remittances market in Kenya. According to the Central Bank of Kenya, diaspora remittances to Kenya have recorded a steady growth over time. Inflows from January to June 2016, reached Kshs 87.3 billion (US $861.9 million). KCB Bank and Western Union have been working together since 2005, to offer Western Union services in Kenya. Since then, Western Union services have been introduced in KCB Bank Tanzania, KCB Bank Uganda, KCB Bank South Sudan, KCB Bank Rwanda and KCB Bank Burundi. 




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