Jamii Bora Bank seals agency deal with Solo Payment

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Postbank’s Ag. Managing Director, Ms. Anne Karanja (left) and Chase Bank Assistant General Manager for Branches Ms. Beth Thuo (centre) sign documents to launch the partnership between the two institutions, witnessed by Chase Bank Assistant General Manager Business Partnerships Ms Eunice Kimeria. The new partnerships will provide Chase Bank customers access to 104 Postbank branches across the country.
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By Helen Nderu

Jamii Bora Bank has sealed an agency deal with Solo Payment Systems that will see it use Solo Agency’s network to reach more customers.

Under the deal Jamii Bora Bank will use Solo Payment Systems’ automated kiosks situated in malls, retail stores and ATM lobbies to offer banking services on a 24/7 basis.

Jamii Bora Bank has 26 branches spread across the country serving over 360,000 customers.

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To ensure service delivery, the bank has sealed an agency deal with Solo Payment Systems to offer modern payment platform in Kenya through its integrated self service kiosks situated at strategic locations such as malls, retail stores and ATM lobbies.

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The deal is expected to expand Jamii Bora Bank’s infrastructure to serve more customers without the need for human resource, hence promoting efficiency by cutting down on cost of operation.

Kimani says the deal marked an important milestone in the bank’s quest to expand its reach and grow its business.

Solo Payment Systems has over 3,000 kiosks across the country.

Elsewhere,  Chase Bank has announced strategic partnerships with Postbank as it moves to enhance its distribution networks across the country.

The new partnerships will provide Chase Bank customers access to 104 Postbank branches, which will provide agency banking services to Chase Bank customers.

Speaking at the signing ceremony Chase Bank Assistant General Manager for Branches Ms. Beth Thuo said that the partnerships is in tandem with Chase Bank’s growth strategy.

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“As a bank, we are expanding our distribution network throughout the country by opening more branches and deploying a full range of non-branch channels including agent banking, offsite ATMs, mobile banking, electronic banking and other innovative channels as we respond to the needs of our customers,” said Ms. Thuo.

“This partnership with Postbank will provide easy and convenient access to unlimited banking services to Chase Bank customers and thereby boost our presence countrywide. This provides our customer with an opportunity to access financial services at a location nearest to them therefore, reducing cost and accessibility.”

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Ms. Thuo noted that symbiotic relationships were key in the growth of financial sector as the quest to improve financial inclusion grows.

Postbank’s Ag. Managing Director, Ms. Anne Karanja said the dynamism in the banking sector had allowed for innovation and collaborations as banks sought different ways to meet the needs of different market segments.

“This partnership is strategic as it will allow Chase Bank customers’ easy access to banking services in areas where it has not set base but are already served by Postbank, therefore overcoming proximity challenges.”

Chase Bank will be able to make cash deposits and withdrawals, obtain mini statements and make balance inquiries at any of the 104 Postbank branches.

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