KCB and Airtel Money Partner to Deepen Financial Services

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Airtel Money and KCB Bank unveiled a partnership that will enable Airtel Money customers to deposit and withdraw cash at the over 22,000 KCB Agents across the country.

The collaboration is expected to deepen financial inclusion by supporting the ongoing efforts by industry stakeholders to promote interoperability across Kenya’s financial sector, reducing barriers to financial access, enhancing customer experience and strengthening the country’s digital financial ecosystem.

Airtel Money Kenya Managing Director Anne Kinuthia-Otieno said, “this collaboration reflects Airtel Money’s commitment to making financial services more accessible and convenient for customers across the country.”

“By opening access to KCB’s extensive agent network, we are bringing Airtel Money services closer to more Kenyans and making it easier for customers to deposit and withdraw money wherever they are. As Airtel Money continues to grow, partnerships such as this help us expand access to financial services while supporting the country’s financial inclusion agenda,” said Anne Kinuthia-Otieno.

KCB Bank Kenya Managing Director, Mrs. Annastacia Kimtai also noted that the partnership reflects the Bank’s commitment to leveraging innovation and collaboration to create a more inclusive and interconnected financial services landscape.

“What we are doing is recognizing the fact that diverse and interconnected opportunities are still core to the mobile money value proposition. Reaching critical mass will require mobile money ecosystems to become more dynamic and productive and such a move will enable mobile money services to take root, proliferate, and scale up. It is against this background that we are offering our agency network for more Kenyans to strengthen mobile money ecosystems and help the industry mature fully,” Annastacia noted.

Customers will require a valid national identification document and a registered Airtel Money account to access the service. Deposits will be free, while standard withdrawal charges will apply.

Notably, the deal comes as KCB continues to bolster its agency banking capabilities through the acquisition of Riverbank Solutions by bringing on board its robust social payments and Enterprise Resource Planning (ERP) solutions. As a result, the bank has deepened its digital channels offerings with 99% of transactions being conducted through non-branch channels. 

//Staff Writer