I&M Bank Kenya has partnered with digital banking software provider, Backbase, to develop a digital platform that aims to enhance the its digital banking experience and offerings. The move is part of I&M’s strategic intent to improve its customers’ experience to digital banking services.
The digital platform dubbed I&M On The Go (OTG) will support customers to access all the bank’s products and services in real-time through mobile and internet banking. In addition, the platform will allow them to transact through the Bank’s website, mobile app, call center and the bank’s branches. The platform has been spearheaded by the Bank’s digital factory, iCube, which has embraced Agile practices in fostering the Bank’s digital transformation journey.
Backbase is expected to offer an enhanced banking experience and convenience for I&M Bank customers, as well as empowering them with information and insights to make better financial decisions.
I&M Bank, through its iMara 2.0 strategy, has placed digitization as a key enabler for business growth in the personal and MSME segments. Additionally, the Bank is looking to strengthen its position in Corporate and Institutional banking through a roll out of various products and services that are accessed and delivered digitally.
Speaking at the launch, Kihara Maina, CEO at I&M Bank said, “COVID-19 has accelerated the shift to digital banking like never before. The launch of the On The Go (OTG) platform consolidates our investment around customer needs. We are certain that through leveraging Backbase’s platform, I&M Bank will navigate the new normal with speed, customer focus and a distinct advantage for the future.”
On his part, Matthijs Eijpe, Regional Vice President at Backbase, had this to say, “We are proud to offer our solution to I&M Bank. We believe that this solution will provide an enriched banking experience to the bank’s customers in line with the bank’s priority of giving premium focus on digital technology. We are pleased to support I&M Bank in this journey.”
With the new platform, I&M Bank’s clients are able to view their accounts details and transactional activities and can initiate payments and money transfers. Customers will also be able to make utility payments to various companies and preview and download monthly statements.
In line with its efforts to continue delivering innovative digital solutions that enhance customers’ banking experience, the bank will leverage the system’s capability to roll out additional banking solutions. These include digital lending targeting its Personal and MSME clients.