Airtel Money and KCB Bank have unveiled a partnership that will enable Airtel Money customers to deposit and withdraw cash at the over 22,000 KCB Agents across the country.
Furthermore, the collaboration will deepen financial inclusion by supporting ongoing efforts by industry stakeholders to promote interoperability across Kenya’s financial sector.
Moreover, the initiative aims to reduce barriers to financial access, enhance customer experience, and strengthen the country’s digital financial ecosystem.
Speaking during the partnership signing, Airtel Money Kenya Managing Director Anne Kinuthia-Otieno said the collaboration reflects Airtel Money’s continued 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 Embracing Innovation and Inclusivity
On the other hand, KCB Bank Kenya Managing Director, Mrs. Annastacia Kimtai noted that the partnership reflects the Bank’s commitment to leveraging innovation and collaboration to create a more inclusive and interconnected financial services landscape.
She explained that mobile money growth depends on creating diverse and interconnected opportunities that strengthen the overall ecosystem.
According to her, achieving wider adoption will require mobile money systems to become more dynamic, productive, and scalable so they can take deeper root across the country.
“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.
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What Customers Need to Access the Service
To begin with, customers must present a valid national identification document and ensure they have a registered Airtel Money account to access the service.
In terms of pricing, deposits will be free of charge, however, standard withdrawal fees will still apply.
Meanwhile, KCB’s non-branch solutions, including its agency banking network, continued to play a pivotal role in driving customer convenience, accessibility, and operational efficiency.
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.
