NCBA expands retail and digital banking to boost financial inclusion
The bank’s strategy to expand its retail banking services is rooted in the belief that increased access to financial services can significantly enhance individuals’ economic empowerment and overall quality of life.
NCBA Group has expanded its services by establishing 119 branches across the region, including 10 new locations in Kenya, Rwanda and Uganda.
This is in addition to a partnership with Postbank in Kenya, adding 476 agents and 96 branches countrywide. Moreover, NCBA’s diaspora banking team has expanded its global customer footprint to Australia, the Middle East, and the USA.
In 2024 alone, NCBA expanded into new areas, including Githunguri, Limuru, Kitui, Homa Bay, and Kerugoya, ensuring that more people have convenient and secure access to financial services. Last month, the bank opened its Tatu City branch.
“As NCBA, we are devoted to creating convenience and comfort for our customers. We want to make our banking services readily accessible and responsive to the unique needs of each community, be it a resident looking for personal financing, an employee in need of a quick loan or a business seeking asset financing or working capital,” said Dennis Njau, Acting Group Director Retail Banking.
The bank’s strategy to expand its retail banking services is rooted in the belief that increased access to financial services can significantly enhance individuals’ economic empowerment and overall quality of life.
By increasing the number of branches and expanding county coverage, NCBA aims to make financial services more accessible to underserved populations.
This expansion is expected to facilitate domestic and international transactions, promote savings and investment, and empower individuals with greater control over their financial lives.
This will enable more people and businesses to access credit, resulting in positive impacts on income-generating activities and investments, which in turn will contribute to reduced economic inequality and improved health and food security outcomes.
Additionally, the bank is committed to driving digital transformation by enhancing its digital banking platforms, including NCBA Loop, as well as digital products such as M-Shwari and Fuliza.
By increasing the number of active digital customers and digital disbursements, the bank seeks to promote inclusive financial services that reach previously excluded populations. Digital banking is playing a critical role in fostering inclusive financial services.
Inclusive digital financial services refer to mobile money, online accounts, electronic payments, insurance and credit, combinations of them and newer fintech apps that reach people who were formally excluded. According to the United Nations (UN) Department of Economic and Social Affairs, digital financial inclusion, when provided responsibly and sustainably in a well-regulated environment, drives growth and can have spillover effects on many other Sustainable Development Goals (SDGs).