Dubai Bank unveils M-Sasa mobile platform

Dubai Bank has joined major financial institutions keen on taping into technology by unveiling a new mobile platform dubbed M-Sasa. The platform allows customers and the unbanked population to access the bank's services. It is powered by Rapid Communication Ltd.

M-Sasa Mobile will enable clients access balance status, request for mini statements, deposit and withdraw cash, transfer funds in-house to any account, access and check loan, send account activity SMS, M-Commerce, pay third party including bills and carry out M-Pesa remittances

"There is a clear link between financial services and the country's economic development. The formal banking services are accessed by a mere 25 per cent of the bankable population. Over 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 a Nairobi hotel.

Ndambuki said it is inevitable for banks to create services that enable customers and the unbanked population access formal banking.

"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 running on the mobile platform include the Double Triple Supersaver account that guarantees high returns in profits earned.

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