Family Bank: The Digital Bank in the making

Family Bank: The Digital Bank in the making

posted on March 28, 2017

Is digitalization an option for the banking industry? Not at all. The shift towards the digital space appears inevitable. Today’s consumers are mobile and more connected than ever before. They are increasingly demanding for more convenience and parity. They want control over their finances, delivered in the form of effortless, instant interactions that don’t interrupt their lives.

They expect convenience and believe it is worth the cost. Whether it is paying utilities, transfer of cash from one account to another, paying of services, taking up loans, you name it. All these transactions are increasingly revolving around the mobile phone. Mobile banking is increasing at a fast pace more than online banking.

It is not an option for a bank. It is inevitable because every industry is moving towards that direction and the banking sector is no exception. Consumers are taking advantage of digital propositions in other industries – booking flights and holidays, buying books and music, shopping for groceries and other goods via digital channels.

Customer adoption of digital banking propositions is considerably encouraging. We are increasingly seeing this shift to the digital space through creation of different offerings for the customers – all geared to creating what is referred to as convenient banking.

At Family Bank, we realized and embraced the shift. The Bank is fortifying its digital structures. A digital transformation that involves pulling all improvement levers to maximize value and realize efficiency geared to improved customer experience. When you mention PesaPap, does it ring a bell?

Family Bank pioneered mobile banking in Kenya 7 years ago through the launch of PesaPap. Over the years the mobile based offering has gone enhancements to ensure convenience for our customers.

What’s PesaPap?

It is a mobile solution that enables Family Bank customers to transact at their comfort of their mobile phones either through an application or USSD. The application is available on: –

  • Google play store for Android
  • Apple store for iPhone
  • Window store for Windows phones and
  • Blackberry world for blackberry phones

The application is also available on USSD *325#.

So what services are available on PesaPap?

  • Check Balances on accounts and loan accounts
  • Request for mini or full statements, cheque books, debit cards
  • Transfer funds to own account, other Family Bank accounts and other banks via RTGS
  • Withdraw money at Family PesaPap agents (agency banking) or Family Bank ATMs using a one-time pin (OTP)
  • Pay Bills i.e. DSTV, GOtv, ZUKU, KPLC, KRA tax, JTL
  • Top up of Nairobi county wallets and pay for daily and seasonal parking tickets.
  • Send money to own number or other number via MPESA
  • Purchase airtime from any mobile service provider
  • Pesalink Services for funds transfer
  • Business to business services that is: Buy float for MPESA dealers/Agents, Paybills, Buy goods and services and funds transfer to another Bank directly from customers account.
  • Pay with mVisa – Pay merchants, send money to any VISA card globally and get cash from mVisa agent
  • Set up standing orders
  • Self-service options including report loss of card, change your Mpin,
  • Information services that include widgets for Branch or ATM locator, Forex rates and contact center direct lines.
  • To deposit funds to account, use Mpesa Paybill number 222111.
  • Airtel Money- Coming soon.

 

The benefits to the customers are enormous.

  1. Pesapap is a convenient, fast and easy way to access your finances, you can always take care of business whenever wherever.
  2. Pesapap keeps you in control of your finances. You can monitor your balances and always know where you are financially.
  3. Pesapap is a secure way to make payments. It safeguards and protects your privacy, identity and your financial information.
  4. Real time Payment processing.
  5. Receive free transaction alert for any payment

 

How to Register for PesaPap.

  1. Open an account with Family Bank.
  2. Fill a Mobile Registration form for registration.
  3. Receive log in details.
  4. Log in and enjoy the service.

 

Increased ownership of mobile phones is driving mobile banking usage. This explains the central role the gadget plays in the financial life of a consumer. Therein lies great opportunities for financial institutions to remain innovative around this gadget to win the hearts and minds of the consumer.

FAMILY BANK PRODUCTS

PAP