Samsung, KWFT pact to boost mobile banking

Wednesday, October 10, 2012

NAIROBI, Kenya, Oct 10 – Samsung has partnered with local microfinance solutions provider, Kenya Women Finance Trust – Deposit Taking Microfinance (KWFT-DTM) to promote the uptake of mobile technology solutions among women.

The joint programme by KWFT-DTM and Samsung is geared at bridging the digital divide and facilitating mobile banking solutions for millions of unbanked women in Kenya.

To kick off the partnership, the two firms have pledged to target the provision of mobile banking services to more than 600,000 women account holders at KWFT-DTM.

Samsung Electronics East Africa (SEEA) Business Leader Robert Ngeru explained that the firm will provide Samsung phones for onward lending to KWFT-DTM account holders to boost the recently launched KWFT Mobile banking product uptake.

He disclosed that Samsung will also provide a platform for local Mobile Application Architects to develop suitable mobile banking products to be hosted on the Samsung Apps store, which will be customised to meet local demands including language considerations.

KWFT-DTM Board Chairperson Mary Okelo termed the M-banking service a great milestone since in the past, clients have had to travel long distances to access financial services.

With the new partnership, KWFT DTM Managing Director Mwangi Githaiga, confirmed that the deposit taking micro finance institution will provide a range of Samsung phones at affordable rates to account holders allowing them to conveniently enjoy mobile banking solutions alongside other benefits arising from Internet access.

Source: Capital FM (link opens in a new window)