Co-operative Bank of Kenya has scooped this year’s ‘Bank of the Year in Kenya’ award courtesy of the Financial Times of London on the increased use of digital services.
The bank was recognized for its digitization strategy plans that have improved efficiency and enhanced digital offerings to its customers.
Products such as E-credit and Mcoopcash which are continually upgraded were listed as among developments giving the lender and edge in the market.
Organizers of the fete said the bank has been riding on deepened digital offerings such as e-credit and M-Co-op cash to enhance the efficiency of services to customers.
“As Co-op Bank implements its digitization strategy plans, it is enjoying gains from increased efficiency and enhanced digital offerings to its customers,” said the magazine.
Co-op bank had restructured loans valued at Sh46 billion as at the close of the September third quarter to support customers impacted by the pandemic
“We continue to actively engage our customers to support them through this period, by re-aligning the servicing of facilities, funding and transactional needs as the situation unfolds,” said Co-op chief executive Gideon Muriuki.
On Tuesday, December 2, Co-op Bank launched paperless, the 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.