Kenswitch Kenya Limited and Absa Bank Kenya Plc have signed a partnership that will allow the bank’s customers to access over 2200 ATMs on the Kenswitch network.
Under the partnership, over 10 million Kenswitch member bank customers can also transact on Absa’s ATM network countrywide.
“Scaling our financial services through our strategic partner Kenswitch expands customer access to our banking solutions across the country. The majority of Kenyans, roughly 70% of the total population, also live in rural areas. As a result, this collaboration strengthens our banking network and makes Absa products and services more accessible, which is an important part of our customer obsession agenda,” Absa Bank Kenya Managing Director, Jeremy Awori said.
Kenswitch Managing Director Karimi Ithau said: “This is in line with CBK’s National Payments Strategy that seeks to provide customers with a seamless, secure and convenient and wider access to banking services as we build a collaborative payments ecosystem.
Kenswitch is a registered limited company that was set up by a consortium of banks under the National Payments Systems modernisation and reform process of the Central Bank of Kenya.
Its terms of reference are to allow participating financial institutions to share payment infrastructure like Automated Teller Machines (ATMs) and Point of Sale (POS) terminals so as to avoid the duplication of scarce resources.
Kenswitch’s interoperable network provides over 2,200 ATMs, 20,000 plus Agency Banking outlets and over 15,000 merchant POS outlets. Kenswitch has 26 member banks connected to its local network.
Absa Kenya to Engage Better with Customers with WhatsApp Banking
Khusoko is now on Telegram. Click here to join our channel and stay updated with the latest banking business news and updates.