By Claire Wanja
Airtel has partnered with United Bank of Africa (UBA Bank) to provide mobile-based financial services to Kenyans.
The partnership will enable Airtel and UBA to provide a Virtual Savings Account dubbed Akiba Mkononi to all Airtel customers as well as Mobile Banking services to Airtel Money users as the two companies seek to expand their range of innovative financial services to Kenyans.
Akiba Mkononi will enable customers to save money by transferring funds from their Airtel Money wallets to their Virtual savings account in UBA Kenya which will earn affordable interest rates of up to 7% per annum.
The Akiba Mkononi product enables customers to save from as low as Ksh.5 to as much as Ksh.140,000 daily on UBA bank from their Airtel Money accounts. All one needs to do is dial *368# from their Airtel numbers to start saving money today.
The two firms have also partnered to offer Mobile Banking services that will allow UBA customers who are also Airtel Money users to enjoy real-time services such as funds transfer from their UBA bank account to their Airtel money account and vice versa, make quick airtime purchases, view account statements/account balance enquiry and much more.
Additionally, UBA and Airtel Kenya have also announced that they will jointly launch new mobile based financial products and services with the objective of driving convenience to more Kenyans. This includes Airtel Money PESA Card, a UBA Bank debit- VISA card that will allow Airtel money users to withdraw money from their Airtel Money accounts from over two million Visa and Kenswitch ATMs worldwide, shop and pay for goods and services using Airtel Money at tens of millions of Visa accepted merchants worldwide.
Airtel Kenya CEO Adil El Youssefi said; “We are delighted that this mobile banking partnership with UBA Bank will offer the desired convenience to further deepen the uptake of financial products and services amongst Kenyans. The customers taking up this product will also enjoy the convenience to use the Airtel Money PESA card that continues to enhance their experience and convenience on Airtel Money and ensure that they get added value.”
On his part, UBA Kenya Bank Ltd Managing Director and CEO Isaac Mwige said: ” UBA is always at the forefront of using a mobile based platform to provide ubiquitous financial services. The world is constantly changing and Banking must change with it. We all want safe, easy and convenient access to our money wherever we are and as such we must innovate past the notion of branches and traditional banking practices. Our partnership with Airtel to launch Akiba Mkononi and Mobile Banking services is the first step along this path to provide Kenyans with a rich bouquet of mobile-based banking services.”