National Bank of Kenya and Airtel Kenya have announced the opening of their distribution networks to offer each other’s services in a major partnership agreement geared at expanding reach of services.
National Bank and Airtel Kenya agents will roll out each other’s services, with the Bank expected to expand the same through its other existing channels. National Bank agent banking service, as a result, will be available at thousands of Airtel agent outlets countrywide and vice versa. The Bank, on its part, will further roll out Airtel Money agent service windows at its branches and ATM network countrywide.
Additionally, customers will be able to access National Bank’s mobile banking platform known as NatMobile via Airtel Money. Interoperability between the two mobile banking systems is already live. Customers are already able, via mobile, to view and manage their accounts, make bill payments, transfer money to their Airtel Money from their bank accounts and vice versa. Airtel Kenya customers will enjoy access to Airtel Money cash in and cash out services at National Bank branches, withdraw and deposit cash at National Bank agents and also access mobile money withdrawal services at ATMs countrywide.
National Bank of Kenya Managing Director Munir Sheikh Ahmed, speaking while announcing the partnership, said the development would go to deepen the bank and telco’s services and optimize the opportunities from existing channels for the benefit of both institutions. “Our partnership with Airtel Kenya sets an important new precedence in the way telecommunication and banking sectors cooperate with each other. Opening our distribution networks to each other is set to see us both deepen strategic partnership in an area where collaboration is already paying off,” he said. National Bank has continued to leverage on technology and strategic partnership opportunities to boost its non interest revenue segment as part of its strategy for rapid growth. The bank which reported its best performance in its 48 year history recently has continued to return excellent performance year on year.
Airtel Kenya CEO Adil El Youssefi while launching the partnership said: “Getting access to financial services via the mobile phone can make a massive difference to people’s lives. We, at Airtel Kenya, are very excited about the service and the new partnership with National Bank. This service gives customers the freedom to manage their bank account from their phone thus providing that much needed convenience and simplify the banking process. As technology and financial services continue to merge we have no doubt that this partnership will be a great step towards improving the lives of our customers,” he said.
“It has been our endeavor to enhance the customer experience for our customers through value adding collaboration with partners of like interests. We remain committed to continue investing in bringing the best in class, innovative, relevant products and services to win customer delight in the years to come,” added Adil.
The deal aims to boost penetration of the lender and telco’s products.