KCB automates University of Nairobi payments to ease admission

KCB and University of Nairobi (UON) have entered into a partnership to ease student admission as Bank aims to grow revenue through Non Funded Income (NFI).

The Bank will offer an automated payment collection service in transactional banking, card acquisition and other banking channels. This strategic move comes after the institution officially unveiled the online portal, marking the computerisation of the admission process for privately sponsored students.

KCB Managing Director and Chief Business Officer Kenya, Sam Makome said that, the Bank will constantly remain innovative in offering tailor-made solutions and in pursuing sustainable partnerships with like-minded institutions.

The Bank has integrated its payment collection system with the University such that real time communication will happen whenever students make payments. The first of its kind system in the country will aid the institution in decision making on various parameters concerning application and admission information hence fast tracking the processes.  

 “As a business we need to sustain and raise our transaction volumes and roll out services that will meet changing customer needs. UoN being a Premier institution in the country is a game-changer in the public education sector and currently setting the pace in embracing technology to simplify its procedures. For us, such partnerships are meant to make financial services more accessible easing the lives of our diverse clientele”, added Makome.

This year, KCB aims to drive revenue through interest income, fees and commissions arising from new business lines to push to growth of non-funded income, as well as cost management initiatives across its business.

Going forward, the bank intends to leverage on advancements in technology to grow profits for 2016, improve financial inclusion and service delivery to customers within East Africa.