Postbank Launches Mobile Phone Banking Services

Postbank announced on Wednesday the introduction of mobile phone banking services for its customers, allowing them to get details on their accounts directly via their mobile phones. The new announcement comes only six months after Postbank automated its systems, and refers to a short message service.

According to the company, its customers will also be able to purchase airtime and stop cheque payment instructions if necessary. In addition, it also says that the new service is meant to protect the bank’s turf in the increasingly competitive banking area. Managing Director Nyambura Koigi stated, during the launch of the service in Nairobi, that the company expected the number of customers to actually go to its bank offices to be greatly decreased.

“These value-added banking services will enable customers carry out banking and other services without necessarily going into the banking halls. Our customers will now save time for other economic activities,” Koigi said.

Customers that will make use of the new SMS services, available for all Postbank savings account holders, will be able to get instant updates on their account status, including balances, salary and loan crediting for students under Higher Education Loans Board, as well as withdrawal and deposit alerts.

“Through the SMS banking services, Postbank is making it possible for customers to have a wide access to banking services from their homes and wherever they are. This is not only paper-less banking but also branchless banking,” Koigi added. He also demonstrated the way the new SMS banking service worked, during a press conference at the bank’s head office in Nairobi.

Back in October last year, the company managed to launch automated services, which are now covering more than 80 percent of the Postbank customers, according to the managing director, who also said that the bank had more than 1.2 million accounts.