Dubai Bank unveils mobile banking platform

NAIROBI, KENYA: Dubai Bank has joined other financial institutions keen on taping technology by unveiling their new mobile platform dubbed M-Sasa.

The product powered by Rapid Communication Limited is a quick and convenient mobile platform that will allow customers and other unbanked individuals to access the bank services.

The platform will enable clients to inquire balance status, request for mini statements, deposit and withdraw cash, transfer funds in-house to any account, access loan status, send account activity SMS, M-Commerce, Pay third party including Bill Payments and carry out M-Pesa remittances.
 

“As we are all aware, there is a clear link between Financial Services and the country’s economic development. Formal banking Services is accessed by 25 per cent of the bankable population.30 per cent have access to informal services and more than 35 per cent do not access any banking services and rely on savings and credit , table savings and merry go rounds,” said the Bank’s Executive Director Geoffrey Ndambuki during the launch at Laico Regency

Owing to the statistics, Ndambuki added that it is inevitable for Banks to create services that will enable their customers and the unbanked population to access formal banking services with less fuss and time.

“The mobile Phone which has become a personal companion for majority if not all of the population is the ideal tool that banks have to use to enable its customers and the general population accesses their financial services.”

He said some of their products were up and running on the Mobile platform including the Double Triple Supersaver account, that is a fast moving and popular product for keen individual savers. The official noted that the product guarantees high returns in profits earned which double and triple upon continual saving during the year.

The bank is planning to roll out the facility to other accounts that is the Hasanat Account, Current Account, Savings Account, Istithmar, Deposit and Loan Accounts and various other Services.