KCB Bank Kenya MD Annastacia Kimtai and Airtel Money Kenya MD Anne Kinuthia-Otieno during a partnership signing that will enable Airtel Money customers to deposit and withdraw cash at over 22,000 KCB Agents across the country/ HANDOUT

AIRTEL Money and KCB Bank are now keen to depeen financial serives in Kenya, in a partnership that could shake the mobile money landscape in the country.

This is after the two entered into an agreement that anables Airtel Money customers to deposit and withdraw
cash at the over 22,000 KCB Agents across the country, in the latest interoperability move in the market.

The collaboration is expected to deepen
financial inclusion by supporting the ongoing efforts by industry stakeholders
to promote interoperability across Kenya’s financial sector, reducing barriers
to financial access, enhancing customer experience and strengthening the
country’s digital financial ecosystem.

According to Airtel Money Kenya managing director Anne Kinuthia-Otieno,  the
collaboration reflects Airtel Money’s commitment to making financial services
more accessible and convenient for customers across the country.

“By opening access to KCB’s extensive
agent network, we are bringing Airtel Money services closer to more Kenyans and
making it easier for customers to deposit and withdraw money wherever they are.
As Airtel Money continues to grow, partnerships such as this help us expand
access to financial services while supporting the country’s financial inclusion
agenda,” she said.

KCB Bank Kenya managing director Annastacia Kimtai noted that the partnership reflects the bank’s commitment to
leveraging innovation and collaboration to create a more inclusive and
interconnected financial services landscape.

“What we are doing is recognising the fact
that diverse and interconnected opportunities are still core to the mobile money
value proposition. Reaching critical mass will require mobile money ecosystems
to become more dynamic and productive and such a move will enable mobile money
services to take root, proliferate, and scale up,” Kimtai said.

“It is against this background
that we are offering our agency network for more Kenyans to strengthen mobile
money ecosystems and help the industry mature fully.”

Customers will require a valid national
identification document and a registered Airtel Money account to access the
service. Deposits will be free, while standard withdrawal charges will apply.

KCB’s non-branch solutions, including its
agency banking network, continued to play a pivotal role in driving customer
convenience, accessibility, and operational efficiency.

Notably, the deal comes
as KCB continues to bolster its agency banking capabilities through the
acquisition of Riverbank Solutions by bringing on board its robust social
payments and Enterprise Resource Planning (ERP) solutions.

As a result, the
bank has deepened its digital channels offerings with 99 per cent of transactions being
conducted through non-branch channels.