•The region has been recording an increase in the adoption of digital transactions over the past years, prompting the lenders to adapt.
•According to BK about 90 percent of Bank of Kigali (BK) customers will access their services on digital channels within 2025.
Bank of Kigali has announced that it will be pumping more investments in digital banking systems for its customers.
The Nairobi Securities Exchange and Rwanda Stock Exchange listed lender says that heavy investment in modern IT infrastructure in recent years has enabled 70 percent its clients to currently transact on digital channels.
The region has been recording an increase in the adoption of digital transactions over the past years, prompting the lenders to adapt.
According to BK about 90 percent of Bank of Kigali (BK) customers will access their services on digital channels within 2025.
BK group CEO Diane Karusisi has said the plan will enable the lender to grow without necessarily expanding branch foot print or staff
“We want by 2025 to have all our services automated, to be fully digital where someone can buy market shares, insurance and others online,” said Dr Karusisi.
In March last year the lender announced that the volume of transactions handled on the Bank of Kigali (BK) Mobile App had increased tenfold in three months following launch of the bank's upgraded digital system.
Launched on September 30, 2022, the upgraded digital system has unique biometric recognition capabilities.
The USSD version of BK Mobile officially went live in February last year.
It offers interbank transfers capability through the “BK to other banks” feature.
“This new feature set is expected to revolutionize the way people conduct financial transactions, making it easier, faster, and more convenient than ever before,” said Dr. Karusisi then.
Traditional banks in the region have been investing in digital banking platforms to provide customers with convenient and accessible services.
This includes internet banking, mobile apps, and other online platforms that allow customers to perform transactions, check balances, and access various financial services.