KCB to venture into agency banking

By Dan Muhuni

KCB CEO n Paynet Group CEO

KCB has already started pilot for the much publicized agency banking in the country. This was announced by the KCB Group Chief Executive Dr Martin Oduor-Otieno during the KCB- Paynet partnership signing. The partnership will see PesaPoint member bank cardholders be able to withdraw money through the KCB QuickServe ATMs in Kenya.

Under the deal, PesaPoint connected cardholders will access their accounts as well as enquire about their balance in any of the KCB QuickServe Automated Teller Machines (ATMs). The initial KCB and PesaPoint partnership was launched three years ago but has now been taken a notch higher.

“Over and above the KCB QuickServe ATMs, KCB account holders can access their cash through any PesaPoint and Kenswitch ATMs. This venture will also open up over 340 KCB QuickServe ATMs in Kenya to customers of the more than 30 banks who are currently on the PesaPoint network,” KCB Group Chief Executive Dr Martin Oduor-Otieno said.

Speaking at the launch ceremony, Bernard Matthewman, CEO of Paynet Group said “ We are delighted to partner with KCB in this strategic initiative that will not only provide PesaPoint customers with over 300 additional points to access their pesa across the country but will also maximise the KCB ATM network. Ultimately this is about making the most effective use of existing infrastructure which not only benefits our customers but also builds towards a more integrated and efficient market and we will continue to partner with banks to extend this”.

Oduor-Otieno said this partnership with Paynet Group will allow more than 2.5 million PesaPoint member bank cardholders access their accounts in any of the KCB QuickServe ATMs in Kenya.

Additionally, this partnership will lead to optimization of the KCB ATM infrastructure by enabling PesaPoint cardholders to access services at any of these ATMs in Kenya.

“This partnership has also allowed the bank to utilize its 340 ATMs in Kenya to its full capacity contributing to its revenue base and support the Central Bank of Kenya (CBK) strategy of integration and sharing of electronic delivery channels,” said the Chief Executive.

Rolled out about 13 years ago, KCB QuickServe ATM service was amongst the first in the country. Since then, KCB QuickServe network has grown and is currently the most accessible ATM in region.