CIO East Africa (Nairobi)

14 August 2014

Kenya: NIC Now's Mobile Banking APP Enhanced to Include Share Trading

NIC Securities customers will now be able to trade their shares from the palm of their hands following the enhancement of the NIC NOW Mobile Banking app.

Through the banking app, customers can now access the Nairobi Securities Exchange (NSE) from anywhere and can trade shares at their own convenience.

NIC Bank rolled out its banking app last year converging banking and lifestyle for its customers. This new functionality complements the existing features, allowing customers to access their bank accounts and offers services beyond typical banking solutions.

"This flexible trading platform provides extreme mobility by bringing the NOW factor to the NIC Securities clients investment experience. Customers can now trade whenever they want and wherever they are" said Catherine Karita, GM, NIC Securities.

With this new enhanced functionality, NIC Securities clients are ensured of not missing a trading opportunity with instant access to their trading account, funds and the securities exchange in a simple, user-friendly and phone compatible environment.

The app ensures that customers' funds and the markets are never far from reach. It's designed to allow clients to view their account status, access stock prices, retrieve statements, view portfolio valuations and get instant market updates and tips. All this is geared towards enabling NIC Securities client's to place informed buy and sell orders seamlessly.

The NIC NOW Mobile Banking app is accessible to customers with any Android, Windows, IOS or Blackberry Smartphones through the respective application stores. Once customers register, they are able to download the app and using the Security credentials provided by the bank able to access the app.

The app is the first to be rolled out following the move by the Capital Market Authority (CMA) allowing NSE to introduce rules and structures which enable Direct Market Access (DMA) earlier this year. This allows investors to start trading without physically placing orders with brokers. The move by the regulator, CMA, is aimed at making the market more efficient.

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