The Co-operative Bank of Kenya has been named this year’s Bank of The Year in Kenya, in The Ft Banker 2020 Awards run by the Financial Times of London.
“As Co-op Bank implements its digitisation strategy plans, it is enjoying gains from increased efficiency and enhanced digital offerings to its customers. Products such as E-credit and Mcoopcash are continually upgraded,” reads the Award Citation.
This comes at a time the bank launched paperless, end-to-end digital opening of accounts by customers.With this digital account-opening, customers will no longer have to fill account-opening forms. Only the National ID will be required, with the other Know Your Customer (KYC) documents automatically generated by the bank system, which will also confirm and validate the KRA PIN, take clear photos, and enable electronic signatures.
When a customer opens an account, the system will instantly send a text message to the customer, providing details of the account, instantly enabling the customer to transact such as making a cash deposit to the new account via mobile phone.
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