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CEO Weekends: MTN partners with KCB, RSwitch and IM&M to improve financial services

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mobile moneyMTN has entered into a partnership with KCB, RSwitch and I&M that will see customers transfer money between their Mobile Money and KCB accounts and withdraw money from their Mobile Money wallets using I&M ATMs and other RSwitch connected ATMs, without the use of a bank card.

Norman Munyampundu, general manager of MTN Business said: “MTN is constantly finding new ways of delighting customers through our digital strategy. These services are truly unique as they cater to both the banked and the unbanked population of the entire country.”

“Being able to access your Mobile Money through ATMs or bank integration services opens up a new way of banking, effectively turning your mobile phone into an e-wallet with the convenience of being able to withdraw or transact money 24/7,” Munyampundu added.

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According to the Rwanda Focus, the new service will also make it possible for customers to  pay for goods, services and bills efficiently without having to be there and it is also a secure way of making payments.

Monica Keza, the head of Banking and Channel said that KCB’s strategy is to provide innovative ways of banking to its customers which is convenient and efficient to both the banked and unbanked.

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“KCB’s partnership with MTN Mobile Money is a game-changing endeavour which aims to improve lives, create jobs, spawn new enterprises, expand financial inclusion and promote a cashless economy in Rwanda. This service will enable customer to access their banking services through the Mobile money platform at their own convenience,” she said.

RSwitch head of projects Catherine Ngali said they are happy to partner with MTN and the banks in providing card-less cash withdrawal services through the RSwitch Smartcash ATM network to MTN customers.

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Ngali indicated that the new service is another step towards ‘fully functioning’ mobile wallets, adding that the company will continue to provide the latest solutions to enhance customers’ day-to-day financial experiences.

On his part, Innocent Muhizi, the I&M Bank head of IT and Transactional Banking Services, said that his bank is happy to partnering with MTN in the efforts of reaching more Rwandans that have hitherto had limited access to these transaction services either by proximity or by the inevitable limitation of agency operational hours, noting that the new services will create the much needed bridge to formal financial services while offering unmatched convenience for mobile money users.

“At I&M Bank, we are committed to continue championing innovation to increase ability to have access to money. We are here to transform banking,” Bahizi stressed.

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Susan Mwenesi
Susan Mwenesi
Interested in business, technology and all things startups in Africa!

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