The Kenya Housing Finance Bank has launched the first WhatsApp Banking service in Kenya in partnership with Waya Waya Ltd. The service will enable customers to access the entire banking portfolio right within Whatsapp chatting service.
BitcoinKE had a chat with Teddy Ogallo, CEO, Waya Waya, the company behind the WhatsApp service offering, at the Seamless East Africa Banking and Fintech Conference to discuss the WhatsApp banking service and what it offers customers.
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The team at Waya Waya was also kind enough to demo to us how the new WhatsApp Banking app works.
According to Robert Kibaro, CEO, Housing Finance Group Kenya:
“Consumer trends are changing. We are following customers where they go prompting us to launch Kenya’s first WhatsApp banking solution. You can actually be able to do a whole range of banking 100% on WhatsApp.”
Housing Finance says they have taken security seriously and has assured customers the service is safe to use.
Speaking on the convenience the service offering, Kibaro said:
“Banking is no longer somewhere you go, its something you do, wherever you are. For us, we are now putting it a notch higher. If people are actually spending a lot of their time on WhatsApp, why not do banking there. The end game is build a retail bank 100% digitally. As a traditional mortgage lender, we want to go straight to digital.”
Emerging technologies in the fintech space are quickly revolutionizing banking as we know it and the use of chat services like WhatsApp to offer banking services is just one of the disruptive effects of technology we are seeing in the space.
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