ACCOLADE

Credit Bank named best SME, mobile banking lender in Kenya

This was at the global International Business Magazine Awards 2020

In Summary

•The awards recognize the best in class achievements pertaining to global leaders and corporates across varied spheres in the international business and finance arena.

•CEO Betty Korir says the recognition reflects the bank’s unparalleled SME banking capabilities, as well as its commitment to push the innovation barrier to the next level.

Credit Bank Plc, has been named ‘Best SME Bank in Kenya' and the ‘Best Mobile Banking' institution in Kenya by the International Business Magazine.

The International Business Magazine Awards recognize the best in class achievements pertaining to global leaders and corporates across varied spheres in the international business and finance arena.

The judging process, led by subject matter experts, involves a meticulous look into the institution’s talent, leadership skills, service quality, and capability among other things.

Credit Bank CEO Betty Korir has said the two awards by International Business Magazine Awards reflects the bank’s unparalleled SME banking capabilities, as well as its commitment to push the innovation barrier to the next level.

It is an honor to be recognized for our efforts, and a great motivation for our team to continue innovating and offering quality service,” Korir said.

Being ahead of the curve in innovation has allowed Credit Bank develop solutions that are changing the way businesses conduct banking,” she added.

The bank launched clearing solutions as a response to customers’ needs during the Covid-19 pandemic.

This solution allows businesses to bank cheques from the comfort of their offices or homes.

The lender has also provided solutions such as 'Konnect2Bank' that allows customers to transfer funds directly from bank account to Buy Goods Till Number or to Paybill, and integration of Paybill and Till Number deposits directly and instantly into their account.

This, management says “has ensured that businesses remain in operation through these unprecedented times.”

 

We have provided digital banking solutions that have enabled SMEs conduct their businesses more efficiently through the pandemic,” Korir said.

As the world continues to grapple with the effects of the Covid-19 pandemic and economies work to recover, supporting SMEs, who are the backbones of most economies, remains crucial for the rebound.

 Credit Bank ’s eHub platform provides entrepreneurs non-financial support through learning and skills development from business experts, one on one coaching forums, knowledge sharing, market linkage and peer to peer learning sessions.

The bank has hosted over 1,000 entrepreneurs in various masterclasses aimed at enabling them scale their businesses.

Eric Nyachae, the bank's Executive Officer noted: “The best mobile banking in Kenya award is a testament to our understanding of the intricacies of the market and the unmatched capabilities of our robust and user-friendly mobile banking platform - CB Konnect.”

CEO Korir has since affirmed the bank's commitment to remain the best SME bank and further enrich the digital banking experience to offer fast, friendly and flexible solutions to its customers.

We remain committed to continue delivering solutions that allow our clients to accelerate and grow their businesses,” she said.

The SME bank has lent over Sh14 billion to more than 5,000 SMEs to date.

The SMEs span across all sectors of the economy with a special focus on manufacturing, building and construction, trade businesses, agriculture and health.

The bank's focus on the trade finance space has enabled the institution provide a unique proposition to SMEs.

Its innovations saw it named best bank, in its category, in providing customer focused financial solutions by the Kenya Bankers Association in 2019, best bank in Tier III by Think Business and best SME Partner Bank by The European.