Nairobi,KENYA: Family Bank customers, and non-customers will now access instant loans and also set investment goals for periods of between 3 to 12 months, earning attractive interest using the revamped Pesapap application that was launched on Tuesday.
Speaking during the launch of the application, Family Bank’s MD & CEO Dr David Thuku said that 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 , mobile money wallets, bill payments, airtime purchase, scheduled payments, PesaLink, amongst others.
“With 65 per cent of our bank transactions now via digital, up from 46 per cent in January 2016 and with an 18 per cent growth in mobile banking in 2017 compared to 9 per cent in 2016, it is our strategic intention and focus to invest more in technology and aggressively drive efficiencies through IT,” said Thuku.
Mr Thuku added that they believe the revamped PesaPap will meet the increasing demands of the modern-day consumer whilst keeping pace with emerging technology to further deepen financial inclusion.
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 lives and 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 dialing a USSD code *325# or by downloading the PesaPap app available on Google Play Store and Apple Store.