National Bank signs partnership deal with Posta to offer agent banking

By Smart News

Mr. Munir Ahmed, CEO & Managing Director, National Bank during the signing of the partnership with the Postal Corporation of Kenya

National Bank has announced a strategic partnership with the Postal Corporation of Kenya (PCK) to provide agent banking services to its customers as it moves to enhance its distribution networks across the country.

The new partnership will provide all National Bank customers access to PCK’s expansive network with 470 outlets across the country in offering agent banking services.

Speaking during the signing ceremony National Bank, Managing Director, Mr. Munir Sheikh Ahmed said that the partnership with PCK is in tandem with the bank’s growth strategy as outlined in its strategic transformation programme aimed at making National Bank tier 1 bank by the year 2017.

“As a bank, we have enjoyed a close relationship with PCK over the years and today we are happy to take the relationship a notch higher in a bid to reach out and offer financial services to the majority of Kenyans in the country. The partnership we have signed today will provide easy and convenient access to unlimited agent banking services to National Bank’s customers and thereby, boost our presence countrywide,” said Mr. Ahmed.

Through the partnership, National Bank customers will be able to make cash deposits and withdrawals of up to Kshs1 million, obtain mini statements, make balance inquiries, make school fees payment, utility payments among other services.

PCK’s Postmaster General, Dr. Enock Kinara, said the company plays a very crucial role in the provision of financial services to the unbanked population and it is now leveraging on technology and innovation with the main objective of driving fundamental shift in the value proposition of their customers.

“This partnership is strategic as it will allow National bank customers’ easy access to banking services in areas where the bank has not set base but are already served by our robust and extensive network countrywide, therefore overcoming proximity challenges,” said Kinara.

Recently, National Bank announced strategic partnerships with Kenswitch, the national payments switch provider, and Post Bank, as it moves to enhance its distribution networks across the country.

The new partnerships now provide all National Bank customers access to 1,200 Kenswitch’s ATMs services across East and Central Africa and also provision of agency banking services at the 99 Post Bank branches and 800 Post Bank Mashinani Agents countrywide.

With Nation Bank already having 74 branches which the bank aims to increase to 80 by the end of the year, 125 ATMs and 110 agents across the country, the deal with PCK now takes National Bank cash access points in the region to 74 branches, 1,539 agents, and 1325 ATMS.