Issue link: https://read.uberflip.com/i/1210257
In 2017, KCB Bank Kenya embarked on an ambitious project. The aim was two-fold: to create a new offer that provides mobile money and inclusive financial services, and to improve the existing financial services of co-branded product KCB – Mpesa. To help, KCB began searching for partnerships that would provide the bank with the digital know-how it needed to set up and roll out its new services. And one of the partners KCB chose was Sopra Banking Software. KCB chose our platform because it supports strong transactional volumes, improves customer experience and would provide KCB with a springboard from which to develop other digital brands and new innovative financial products. With such a formidable project, it's no surprise that KCB and its partners encountered challenges along the way. It was vital from the offset to strike a balance between flexibility, the technical challenge linked to the integration of the solution's various components and the associated transactional performance expectations. Furthermore, in order to hit the ground running and get an edge in a highly competitive market, a challenging timeline of just six months from the end of the scoping phase was set. However, thanks to the extraordinary efforts from both sides of the partnership, and the solutions used, the project not only went off without a hitch, but in the end exceeded all expectations, and gained plenty of plaudits, as you'll see below. KEY WINS PROJECT IN A NUTSHELL KEY FACTS ABOUT KCB • Mobile channel increase by 36% from Q3 2018 to Q3 2019 • By Q3 2019, 96% of transactions were performed outside of branches • +446% total growth in mobile loans advanced within the KCB group in HY 2019, compared to HY 2018 • +36% growth in mobile transactional volume within the KCB group in HY 2019, compared to HY 2018 • Over 4 million new customers enrolled, 17 million loans distributed and 1 million transactions processed every day during the first year since going live • 200 branches, 367 ATMs and 16,000 agents in East Africa • HQ in Nairobi, Kenya • Presence in Uganda, Tanzania, South Sudan, Burundi and Rwanda, and a representative office in Ethiopia PROBLEM: To provide customers with mobile money and inclusive financial services, and to improve the existing financial services of co-branded product KCB – Mpesa. SOLUTION: Sopra Banking Amplitude Alex Siboe, Head of Digital Financial Services and Mobile Payments for KCB Bank Kenya "The KCB Mpesa 'new and improved' product has been running on the Sopra Banking Software platform for several months, allowing banks to attract new customers and propose new and better services with high levels of performance."