Caption: Postbank’s Head of Projects Jacinta Kasingiu (second right) during the launch of M-Chama Mobile Account at a Kitui Town hotel. (Tom Waita/hivisasa.com)
Saving groups across Kitui County are set to enjoy better, secure, affordable and convenient banking services after Postbank unveiled a mobile banking system tailored to meet the financial needs of the local mwananchi.
Speaking on Saturday during the launch at a Kitui hotel, Postbank’s Head of Projects Jacinta Kasingiu said the mobile banking platform will allow clients to transact business without physically visiting the bank’s branches or ATMs.
“M-Chama Mobile Account has been introduced with the sole aim of enabling members of the saving groups to remotely make deposits, withdraw cash and request for loans from the group’s account on a mobile phone.
“The service was specifically developed to offer financial security, transparency and accountability to investment and saving groups which have in the past been rocked by mistrust arising from mismanagement of chama funds.
“Besides, automatic SMS alerts will be sent to all members whenever a deposit or a withdrawal is made for them to keep tabs on the respective transactions,” explained the official.
She said the financial institution targets at least 4,000 chamas in the county and that training of interested clients was underway to achieve maximum uptake of the remote banking service.
Ms Kasingiu, however, regretted that the service will not be accessible by residents inhabiting areas of Kitui facing mobile network challenges since a telecommunication connection is required for any transaction to be made.