In a move set to redefine how Rwandans interact with their bank, I&M Bank Rwanda has unveiled WhatsApp Banking 2.0, a new and improved version of its popular banking service through the widely-used messaging app, on August 20.
This innovation aims to streamline financial transactions and provide a more user-friendly experience for the Bank’s customers across the country. With this new feature, customers can now manage their finances directly through WhatsApp, performing tasks such as checking account balances, receiving mini statements, making fund transfers, and paying bills with just a few taps on their smartphone screens. To access WhatsApp Banking at the Bank, customers simply text "Hi” or "Hello” to +250 788 361 414 and follow the instructions of the user-friendly platform.
The service is expected to resonate particularly well with the increasing number of smartphone users in Rwanda, both in Kigali and rural areas.
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According to David Marc Munyanziza, Head of Digital Experience at I&M Bank Rwanda, the launch of WhatsApp 2.0 marks a significant step forward in the digital banking landscape, adding that the simplicity of the WhatsApp interface, combined with the new banking capabilities, promises to make everyday financial management more accessible than ever.
"Our goal is to deliver innovative products that not only meet but exceed our customers’ expectations. By bringing banking services to WhatsApp, a platform our customers interact with every day, we’re making it easier for them to manage their finances with ease,” Munyanziza said.
I&M Bank Rwanda’s WhatsApp 2.0 came with several innovative features designed to enhance the banking experience for its customers. With this update, customers can now independently sign up and manage their accounts through a simple self-registration process. They can also check their account balances and receive mini statements anytime and anywhere directly via WhatsApp.
Additionally, WhatsApp 2.0 offers seamless bank transfers both within I&M Bank, all local banks, and mobile money accounts. The service extends to mobile functionalities, allowing users to purchase airtime and conduct Mobile Money transactions with MTN and Airtel as if they were sending messages.
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Munyanziza also noted that for bill payments, customers can handle everything from utility bills to taxes without ever leaving the WhatsApp app, making it more convenient than ever to manage financial tasks.
"We are confident that this revamped service will significantly enhance customer delight by providing a more accessible and straightforward banking experience,” he said.
Customers can also top up their MasterCard Prepaid Wallet and manage utility bill payments directly through the app. This wide range of features is designed to cater to diverse customer needs while maintaining the ease of use that WhatsApp is known for.
Munyanziza explained that to start using WhatsApp Banking 2.0, customers simply need to send a greeting message to the dedicated number provided by the bank. This straightforward activation process is part of the bank’s effort to make the transition as seamless as possible.
Incorporated in 1963, I&M Bank (Rwanda) Plc is the oldest bank in Rwanda. It is today one of the leading players in the industry with a strong footprint across the country.
I&M Bank Rwanda offers a full range of personal, business, institutional, and corporate banking products throughout its locations. The bank has been listed on the Rwanda Stock Exchange since March 2017.
The Bank is also a subsidiary of I&M Group PLC, a leading regional financial services group in Eastern Africa with a presence in Kenya, Tanzania, and Uganda, as well as a joint venture in Mauritius. I&M Group has a long history in banking, has established a wide network of correspondent banks across the globe, and enjoys a strong relationship with leading international development financial institutions.