KCB to launch SMS, Internet banking

Kenya Commercial Bank (KCB) Rwanda, a subsidiary of Kenya’s KCB Group is set to rollout Short Message Service (SMS) and Internet banking in the next few months. The Bank says that the services will allow its clients to access details of their accounts through SMS on their mobile phones and also conduct financial transactions on a secure website. Maurice K. Toroitich, the Managing Director of KCB Rwanda said that the two products, which are operating in other KCB Group subsidiaries in the region, will be launched in Kigali in the near future. “The product frees our customers by providing them with the ability to access information on their balances from any convenient location,” Toroitich said. Toroitich also added that currently KCB Rwanda has over 20,000 customers with plans to increase market share by introducing new products. By introducing SMS and Internet banking, KCB will be attempting to compete with other banks, Access Bank, Bank of Kigali and BCR are already using the services. Recent figures indicate that in the 1st Quarter of 2010, the KCB group’s performance was much better as they managed to register a profit of KShs1.9 billion (Rwf13.6 billion) or 10 percent increase over Q1 of last year. There are good prospects of growth in future, the officials at the bank projects. Ends

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KCB to launch SMS, Internet banking