More banks in Kenya go paperless to cut costs

By STANDARD REPORTER

NAIROBI, KENYA: The financial services industry has made great progress in recent years toward eliminating paper-driven processes. Going paperless has opened the door to more efficient operations, lower costs, improved compliance and better knowledge management.

However, in Kenya many banks still rely heavily on the physical flow of paper for customer-facing activities but continue to seek ways to reduce their reliance on paper-driven processes.

One of the firms driving the modernisation of this core platform in Kenya is Sybrin Kenya Ltd, which is helping financial institutions, and clearinghouses successfully transition from paper to electronic payments and image processing.

Wilson Some, Director, Sybrin Kenya Ltd, says the paperless solution will enable banks and other financial Institutions to move to Biometrics in all their front office transactions.

“Banks are seeing opportunities for further paper reductions that can lead to greater operational efficiency, reduced costs and increased customer satisfaction,” says Some.

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