Stanchart talks video banking and employee retrenchment

Stanchart bank branch

Liman Majang,the Standard Charted Bank (Stanchart) East African Regional Manager announced on Monday that the bank will soon start using video banking in a bid to embrace more technology in its service delivery.

This move comes after Standard Charted PLC, the parent company based in the Uk set aside a substantial amount of  money to improve technology in service delivery dubbed Digital Migration within all its worldwide subsidiaries.The plan will be fully attained in a span of three years.


Mr Majang said that apart from the sc mobile banking app,online banking and ATMs, video banking will make clients communicate with the bank employees at the convenience of their homes through laptops, tablets or smartphones.The already existing ATMs will also be upgraded to accept bulk deposits.

Employees Retrenchments
The introduction of video banking will see less customers vising stanchart bank branches physically. This will leave most tellers and customer care desks with less to no work at all.Its expected the work load at the branch will fall by 45%.This fall in work load will therefore call for employee retrenchment a scenario full backed up and recommended by the stanchart headquarters in London.The lenders will then expect a heightened profit margin by the end of the digital migration.

Digital banking.
Digital banking increase efficiency, accuracy and speedy delivery of services in the banking sector among other factors. Diamond Trust Bank (DTB) kenya launched a digital branch last month at the garden city in Nairobi. DTB boss Mr Shah saw the official opening of the branch where customer would do bulk deposits at the ATM lobby,use fixed tablets and touch tables.

SMEP Microfinance Bank- Fulfilling your dreams

SMEP MFB

SMEP Microfinance Bank LTD(SMEP MFB) is a financial institutions registered in kenya as a limited company.Smep Mfb offers loans and banking services to both individuals and businesses in kenya.Its bigger focus however seem to be on groups popularly known in Kenya as Chamas.This lender has numerous retail outlets nationwide especially in the suburbs of every county.


Loan Products.
Smep mfb gives loans to both individuals and businesses operating in kenya.SMEs and groups get special and tailor made loan facilities. In general SMEP offers ;asset financing, group retail loans,agribusiness loans,SME loans,Church loans and working capital loans.The lender also provide insurance premium financing to help in smooth premium payment.

Contacts
Smep Head quarters,
Kirichwa road,
Off Argwings Kodhek road,
Nairobi.
Mobile:+254 711 606 900

How to borrow loans from Kiva.

Kiva org

Kiva is a microfinance organisation registered in the US as a not for profit lender specialized in availing loans to the low income population worldwide.It was founded in the year 2005.Today,,Kiva has spread to over 80 countries with a total of over US$850million worth of loans disbursed.The lender facilitates loans through field partners to over 15000 borrowers monthly.Kiva gives out loans that are aimed at changing peoples lives.


Where does Kiva get its money
This financier relies on volunteer lenders mainly and a few grants,corporate and foundation sponsorships.Volunteer lenders donate to Kiva through the website or choose to lend directly to a borrower through the same platform.

Borrowing from Kiva
How can an individual or a business apply for a loan from Kiva?This is the reason for this post.There are two ways a borrower can ask for a loan from this lender.It's either through Kiva website or through Field partners.

1.Applying for a kiva loan through the Website.
Only applicants from the US can use this method.Borrowers join the Kiva Zip community before asking for a loan.
STEPS;

• Fill an online application form.
• Lend to a fellow borrower.
• Invite family and friends to lend you .
• Let your first lenders who are your relatives to post you on Kiva website where millions of volunteer lenders will see your profile.
• Volunteer lenders will then start lending you.
• Do your business and repay.

This method relies mostly on your trustworthiness rather than your creditworthiness.

2.Applying for a kiva loan through a field partner 

Many countries covered by Kiva services depend on this method, that is applying for credit facilities through Field Partners.What are Field Partners? They are financial institutions, mostly specialized in micro credit ,that were approved by Kiva Org management to facilitate loans to borrowers in their various locales.All of these field partners are stable and fully operational financial institutions.

Borrowers don't need to mention Kiva to be attended to.These institutions do their own communication to Kiva about the borrowers who seek their services.Field Partners receive,edit and upload the borrower details and story to Kiva website where interested lenders can choose to support the borrower.If an applicant's loan gets fully funded,the Field Partners declares your loan approved in full.

Field Partners in Kenya.
Kenyans depend on field partners very much.Field partners reach and educate the communities they are located in.These institutions give out loans for various purposes like education, startups,business expansion, solar and other clean energy loans.There is a high probability of getting loans approved with field partners compared to other financial institutions not related to kiva.Kiva managers always review field partners every now and then.Partners who rate poorly in terms of financial risks are inactivated never to participate for a while until they rate good again.At the moment, these institutions are field partners in kenya;

1.  SMEP microfinance bank
2. Yehu microfinance trust
3. Strathmore university
4. Milango financial services
5. VisionFund kenya
6. Kenya ECLOF
7. Evidence Action
8. Juhudi Kilimo
9. Hand in Hand Eastern Africa
10. Burn manufacturing company
11. PowerGen renewable energy
12. KOMAZA
13. Honey care Africa
14. Asante Kenya foundation
15. Moringa school
16. Yamamoto biogas
17. The alliance for artisan enterprise at the Aspen institute
18. Housing finance foundation
19. Fledge
20. MicroEnergy credits
21. Eco zoom
22. Nuru international
23. iSmart kenya
24. Paradigm project
25. One degree solar
26. Junior achievement kenya
27. Sanergy
28. Barefoot power.

You can check for details of each of the above financial institutions by using the search bar on this blog.

Moneygram's Transact and Win steps into KCB

KCB/Moneygram promotion

Moneygram's transact and win promotion set foot into Kenya Commercial Bank.The promotion which closes on 20th May,will see Moneygram ,through KCB give out prizes to lucky customers who received or sent money through moneygram via the bank.



Previously, the promotion was only available at the Coopbank of kenya.The prizes to be won are the same independent of the participating bank a client will transact.Prizes include;LED TVs, School fees,laptops, smart phones,shopping vouchers, fridges,Mountain bikes and motorbikes.

Good luck!

Century Microfinance Bank

Century MFB

Century Microfinance Bank is a deposit taking micro lender licensed by the CBK to offer banking services to kenyans in the year 2012.Its considered the home to farmers because its primary goal is to reach the previously segregated economic sector from the face of the already existing financiers.Century MFB also serves all businesses in other sectors of the economy though.



Loan Products.
Most of the loan products are agricultural based with only a few being non-agricultural.Members enjoy personal loans, business loans and even mortgage plans.The credit solutions provided carry specific names given by the lender.They include,Mazao loans,shirika loans,dharura loans,boresha loans, soko loans,jijenge loans,rent zaidi and much more.Other credit solutions available at the Century MFB are Overdrafts,Insurance premium financing and trade financing.

Contacts.
Location: KK Plaza, 1st Floor, New Pumwani Road, Gikomba
Tel: 0756305132 | 0722168721
Email: info@century.co.ke

Cooperative bank to upgrade Teachers lives with loans

Coopbank HQ

#CoopMwalimuUpgrade The cooperative bank of kenya is currently running a campaign meant to upgrade the Kenyan mwalimu's life by offering cheap and affordable personal loan facilities.The lender with over 140 branches countrywide is expecting to satisfy and actualise every interested teacher's dream which would otherwise be unachievable without loans.


The TSC employees with good credit reports will be eligible to apply for tailor made credit solutions customised to fit their needs.There are new emerging business ideas in kenya which teachers can take advantage of.The boda boda business, poultry rearing or vegetable cultivating are a few of the booming business hustles.

It's back to school season.It can be the right time to surprise your fellow teachers with a self ride! Enjoy unsecured personal loans from the coopbank.

Public Investment Corporation buys stake at Barclays.

Barclay's bank

Finally Barclay's Africa Group South Africa got a buyer after parent company Barclays Plc's boss Jes Staley announced its sale some two months ago.South African Investment company,Public Investment Corporation SOC Limited parted with over ksh90bn to retain a better stake of Barclays Africa on May 3.


Atlas Mara boss ,Bob Diamond  former Barclay's Chief, had originally shown interest in blocking African investors from taking stake. He preferred participants from Asian continent in buying Barclay's Africa off.However, Atlas Mara a financial investment giant company already with shares at the Nigeria's GTbank, is expected to bag the remaining stake though not in full.
See why Bob preferred East investors for Barclay's Africa Group

Barcalys bank of Kenya boss, Jeremy Awori said that the UK's Barclay's PLC won't leave wholly.Barclay's bank kenya is owned partly by the South African Barclay's Africa Group at 68% .