INNOVATION

Prime Bank launches five transactional products

Says move influenced by ever changing trend in the financial industry.

In Summary

•Prime Yes is designed and structured to develop a saving culture in young professionals.

•This is through setting short and long term goals such as buying a car, a house or, furthering their studies.

Prime Bank/ HANDOUT
Prime Bank/ HANDOUT

Prime Bank has announced the introduction of five innovative transactional products to drive easy and comprehensive banking experience in its personal, SME and corporate customer segments.

These local currency accounts dubbed Prime Yes, Prime Esteem, Prime Flexi, Prime Business Advantage and Prime Enterprise Business have been tailor made to meet the bank’s existing and potential customers’ everyday banking needs, it notes in a statement.

The bank’s managing director Bharat Jani said the launch of the new products signaled the bank’s responsive nature to the ever changing trends, innovation and evolution witnessed in the financial industry.

“We are confident that these solutions will further enhance our customers’ capacity to save and even borrow more, specially during this unprecedented period of the Covid-19 pandemic,” he added.

The director of business development, Vijay Kantaria, said with the new accounts, the bank is providing its existing and targeted customers with solutions to suit their lifestyles and banking needs.

“For instance, Prime Yes is designed and structured to develop a saving culture in young professionals through setting short and long-term goals such as buying a car, a house or, furthering their studies to accelerate their aspirations towards financial independence coupled with an investment product based on customer needs,” he added.

Asha Kamenge, head of products and innovation noted: “All these five transactional accounts are aimed at meeting the varying banking needs of our customers, as in today’s world convenience is essential to client experience. The Prime Esteem account provides a holistic banking solution to support the growth of high-net- worth personal banking customers.”

Kamenge said the bank aims at creating products and services that present ease and convenience through its banking platforms, depending on the client’s choice of account, operational charges or a monthly standing fee is levied.

The new products will compliment the bank’s digital banking platforms PrimeMobi and PrimeNet, coupled with a robust local network of branches.

The lender is one of the private banks in Kenya with a network of 23 branches.

It also has business interests in other African countries such as Malawi, Botswana, Mozambique, Zambia, and in Zimbabwe through its associate First Capital Bank.