21 March 2018

Kenya: Prime Bank to Provide Cash Services on Truck

Prime Bank has launched a mobile banking unit that is targeted at cash-rich corporate customers.The "Bank on Wheels" is intended to offer cash-in-transit services for select customers at their convenience, through a specially designed vehicle.

The Bank on Wheels truck is specially designed to carry a cash deposit machine (CDM), security and network equipment.

"The Bank on Wheels will work as a mini-branch enabling clients to make cheque deposits, make account enquiries, receive statement of accounts, use the cash deposit machine (CDM) to deposit cash and make withdrawals at the specified working hours," said the Prime Bank Managing Director Bharat Jani during the launch of the service on Wednesday.

Competition in the banking sector has made banks more innovative to retain clients and attract new ones via new products such as online, text-based and agency banking which ease a client's burden of moving large sums of money from their businesses to the bank.

Customers will also get e-banking applications on the Prime Bank truck.

Prime Bank staff will work from the vehicle with laptops, printers and cheque scanners and a counter for customers to carry out their banking services.

The teller will assist customer to deposit the cash in the CDM after which the customer's account will be credited in real time and a receipt issued to the client.

The mobile bank will be moving around the city and its environs.

"The innovative concept aims to take the bank services closer to customers' business premises such as supermarkets and fuel stations...," said Mr Jani.

Kenya

Sublime Soul Diva Who Demanded Respect, Which Will be Forever Given

It is no coincidence that two of Aretha Franklin’s celebrated contemporaries who travelled to Detroit to see the… Read more »

See What Everyone is Watching

Copyright © 2018 The Nation. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.