Commercial Bank of Africa (CBA) has unveiled Loop, a new digital money management and consumer banking service targeted at millennials and tech savvy customers.
The mobile platform eliminates the need for visiting a physical branch for any of the core banking services and features a Personal Financial Management tool, which enables customers track, plan and analyse their income against their expenditure on a regular basis.
“With Loop, we aspire to change the nature and manner of conversations that customers have with their bank” said Eric Muriuki, General Manager, New Business Ventures at CBA.
Presented using graphical tools for faster interpretation, the platform makes it easy for customers to plan for and finance the personal goals and other aspirations for a given period.
Loop presents a range of transactional features that streamline how customers save and make investments, which fits in well with the government aspiration to inculcate a savings culture among Kenyans.
Customers will be able to use Loop to schedule their utility bills payments, send money, access loans, and pay for goods and services at retail outlets.
Loop App is available from the Android or iOS App Store, or online here and specially created retail outlets called Loop Stores located at the City Centre and select malls and equipped with Wi-Fi and customer care professionals to help customers interact with their financial services.