INTELLIGENT MOBILE TECHNOLOGY
NCBA Bank invests in technology to offer inclusive financial services
M obile technology has stood out as a key driver with over 1.1 billion out of the 1.7 billion persons without access to a bank account owning a mobile phone .
Access to financial services is an integral part of the global drive towards an inclusive financial system that empowers all . Global statistics report that over 1.7 billion adults worldwide still don ’ t have access to traditional modes of banking or a bank account . With technology becoming an integral part of day-to-day life , more organisations are looking to it to bridge the financial services gap . Mobile technology has stood out as a key driver with over 1.1 billion out of the 1.7 billion persons without access to a bank account owning a mobile phone .
Nairobi , the capital of Kenya , has stood out as a hub for innovation and strategic use of mobile technology . People from all walks of life can access traditional banking services such as savings and credit using their mobile phones on the M-Shwari platform . Established eight years ago by NCBA Bank and Safaricom , M-Shwari has empowered millions of customers across Kenya by enabling real-time access to financial services for its over 35 million users . The service builds on mobile penetration to enhance access to financial services across the country .
With the tremendous growth observed and increased customer needs , M-Shwari needed to further enhance its capabilities as well as position itself for growth .
Digital Transformation is a key enabler
Digital Transformation has increasingly became a key enabler . However , there were still a few challenges that needed to be addressed :
• Live network performance was increasingly unable to support the bank ’ s rapid business development or cope with high traffic stemming from customers ’ mobile financial interactions , due to the fast growth of mobile savings and loan services
• There was increased need for fast technical support for new services and features
• User experience was greatly impacted due to slow response from the system
The challenge to design and build a next generation core banking system was given to Huawei and its partner MuRong Technology .
“ We have a view or a mission to be Africa ’ s most valued digital platform for financial services which then means we are seeking to move to not just identify ourselves as a bank but actually identify ourselves as a marketplace upon which financial services are offered , upon which customers can then find innovations that impact positively their daily life . So that also was a primary motivation for the investment we made with Huawei ( e . Huawei . com ) and the continued collaboration with them ,” said Eric Muriuki Njagi , Group Director , Digital Business , NCBA . •
48