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National Bank of Kenya Banks on Technology To Foster Growth

National Bank Of Kenya Branches in Nairobi are distributed within the CBD and its environs. I have compiled a list of National Bank Branches in Nairobi Kenya and their contacts.
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With the evolution of technology directly affecting the banking industry, The National Bank of Kenya is investing in electronic platforms to turn around its fortunes.

According to the Chief Executive Officer Mr.Wilfred Musau, E-Wallet, E-Payment and enhanced cyber security will anchor it’s strategy for the next five years. In addition, the decision is a product of a review of its operations during the period of 2012-2017.

Speaking to a team of financial analysts at a breakfast meeting, the bank’s CEO Wilfred Musau noted“The banking industry is one of the sectors that has been hit hard by the evolving technology. Therefore, in our next five-year strategy, lined up a series of technological advancements that easily resonates with our clients to help us restore our market share and stabilize our business.”

In addition, he pointed out that the key guide to these strategies is purely based on the bank’s, past five years analysis and will be guided by their mission. This involves the Bank’s dedication to excellence in providing competitive financial solutions, meeting the changing needs of our customers, being a responsible Corporate Citizen, providing attractive opportunities to their employees and improving shareholders Value.

Last year, the bank announced it had upgraded its core banking system from BankFusion Universal Banking (BFUB) to Fusion Banking Essence [FBE], the fifth and latest version of BankFusion Universal Banking (BFUB) system which in time will drive revenue growth, reduce operating expenses and improve on the Customer Experience.

In line with its Strategic Digital Transformation agenda, the bank also stated it had refurbished its mobile banking offerings to include new service offerings backed by enhanced safety with the aim of helping the bank leverage on technology. The goal being, to improve customer experience throughself-services, improve efficiency in processing customer transactions, control cost, manage operational and market risk as well as adopt best practices in organizational performance.

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“National Bank continues to embrace innovation while driving a digital bank agenda as a way of increasing efficiency in service delivery and driving financial inclusion,” said Mr. Musau while announcing the lender’s third quarter financial results in November.

Apart from technology, National Bank also intends to invest on lifestyle banking, insurance, SMEs, infrastructure, global partnerships and increased government investmentin the near future. The Chief Executive Officer said that as a bank, “We are focused on investing on the increasing number of SMEs in Kenya through financial aids. For good value chase and informed fiscal policy, we will increase our involvement in government investment since they are our main exchequer.”

 

The Bank that is celebrating its 50th anniversary this year and operates a100 billion balance sheet in 82 branches countrywide will also tap clients base in its Amana banking program that purely focuses on the Muslim community.

He added that, “For sustainable business, we are also focused on remaining relevant to our stakeholders and global partners.”

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