Family Bank customers and non-customers will have access to instant loans and establish their investment goals, set between 3 to 12 months, earning attractive interest.
PesaPap, the very first full-service mobile banking application in the market, offers an incredible user interface, enhanced performance and an impeccable customer experience allowing consumers access to instant loan disbursements and repayments, as well as vanilla banking services such as funds transfer to accounts and mobile money wallets, bill payments, airtime purchase, scheduled payments, PesaLink, amongst others.
During the launch of the application, Family Bank MD and CEO Dr David Thuku said with 65 percent of the bank’s transactions done via the digital platform, up from 46 percent in January 2016 and with an 18 percent growth in mobile banking in 2017 compared to 9 percent in 2016, it’s their strategic intention and focus to invest more in technology and drive efficiencies through IT, “We believe that the revamped PesaPap will meet the increasing demands of the modern-day consumer whilst keeping the pace with emerging technology to further deepen financial inclusion,” he added.
According to FSD Kenya, over 6 million Kenyans have gained access to technology that can deliver micro-loans within seconds and build credit history that can give them access to higher and cheaper loans in the future.
Speaking at the event, the Chief Guest Dr. Habil Olaka, the Kenya Bankers Association (KBA) CEO said, “The mobile phone is no longer just a communication device, it is a tool for enhancing our lives. It is through the adoption of modern financial technology that the banking sector will not only improve its efficiency but also spur economic growth and help alleviate poverty.”
Customers can now register and activate PesaPap without the need to visit any physical bank branch or fill out forms. PesaPap can be accessed by dialling USSD code *325# or by downloading the PesaPap app available on Google Play Store and Apple Store.