Standard Chartered launches m-banking in Kenya

Standard Chartered has announced the launch of mobile-phone banking (‘mBanking’) in Kenya.

The bank claims to be the first bank in Kenya to introduce ‘mBanking’ on the USSD (Unstructured Supplementary Service Data) platform to the market.

This new product will provide Standard Chartered Bank’s customers with access to banking 24 hours through their mobile phone – writes

Richard Etemesi, the bank’s CEO says that the new development is part of the bank’s efforts to provide alternative delivery channels for their customers.

“The launch of this mBanking solution consolidates Standard Chartered’s position as the market leader in the provision of IT-based financial services,” comments Etemesi. “This new development compliments our bank’s philosophy of striving to meet customer needs and lifestyles by offering not only products and services but also delivery channels that are in line with current and anticipated future needs.”

Standard Chartered’s mBanking proposition will provide its customers with a number of services on the USSD platform, making it only the fifth bank to use this specific platform globally. USSD is highly user-friendly, and provides an extremely convenient system for customers to access their banking requirements in real time.

USSD is technology unique to GSM. It is a capability built into the GSM standard for support of transmitting information over the signalling channels of the GSM network. USSD provides session-based communication, enabling a variety of applications. Customers will be able to:

 – Check their bank balance
 – View a mini bank statement for their last 3 transactions
 – Change their PIN, anytime and anywhere
 – Request Bank Statements
 – Transfer of Funds in-between personal accounts and nominated accounts
 – Pay utility bills – Pay your Power/ Water /Satellite TV
 – Enquire on FX rates
 – Top-up their mobile phone balance
 – Request a cheque book

Customers with ‘international roaming’ enabled on their mobile phones will be able to complete all the above transactions from wherever they are, anywhere in the world.

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