NCBA Now App: As of the beginning of 2024, there were 22.71 million internet users in Kenya, with 40.8% internet penetration in the country. This has been attributed to an increase in infrastructure rollout, costs of mobile handsets, mobile phone tariffs and cost of bundles, market forces and competition, policy and regulatory interventions among others that may have led to the wide adoption and use of mobile Internet.
However, despite a rapid development in internet access, connectivity has remained the lowest compared to the global average. A significant population remains unconnected due to various reasons including a coverage gap, a gap in digital literacy, the affordability of digital devices, and digital gender divide. Many rural areas have not benefitted from high-capacity bandwidth due to poorly developed infrastructure.
The Kenyan private sector has realized its role in improving digital penetration in the country and has constantly been innovative in its digital propositions for their customers. Banks, to be specific, have modernised their infrastructure to support digital transformation. This has been evident in the rise in upgrading hardware, software, and networks to support digital operations and provide a seamless customer experience.
In the banking industry, the adoption of digital solutions has been a game-changer for both customers and financial institutions. Customers now expect efficient virtual services that not only provide convenience but also ensure their transactions are secure and protected from potential risks. This demand for a seamless and safe banking experience has pushed banks to innovate and integrate advanced digital technologies into their operations.
By leveraging digital intelligence, banks have not only streamlined their processes but also enhanced their ability to understand and anticipate customer needs. This deeper insight enables them to offer personalized services and build stronger, more meaningful relationships with their clients. In this way, digital transformation in banking is not just about staying competitive; it’s about creating a more responsive and secure environment that meets the evolving expectations of today’s tech-savvy consumers.
NCBA Bank, for example, has been at the forefront of providing its customers with streamlined digital solutions. By having digital operations at its core, the bank understands that the commitment is more than just updating technology; it’s about reimagining how banking is done and creating a more customer-centric experience.
Recently, the bank introduced an upgraded version of its mobile application, the NCBA Now app, which includes new features designed to prioritize safety and convenience for its users. This enhancement is particularly beneficial for customers who are frequently on the go and may not have the time to visit physical branches for their banking needs.
Available in Kenya, Tanzania, and Rwanda, the NCBA Now app caters to a wide range of customers, offering them the convenience of managing their finances anytime, anywhere. With these advancements, the bank continues to prioritize customer safety and convenience, ensuring that users have access to efficient and secure digital banking solutions.
The NCBA Now app provides an extensive range of features designed to enhance the banking experience for its users. It includes real-time account monitoring and card management, service requests, customizable alerts, and various fund transfer options. Additionally, the app supports bill payments, including M-Pesa Till payments, card payments, loan repayments, and more. With these comprehensive features, the bank is committed to delivering a safe and efficient digital banking solution that meets the diverse needs of its customers.
With the financial world rapidly evolving to adoption of digitization, the industry must explore artificial intelligence and machine learning to boost productivity, retain marketing shares, and invest in blockchain. Minimal errors incurred in manual entries in huge data sets can quickly offset the balance sheet, resulting in huge losses.
To thrive in the rapidly evolving digital landscape, banks must reevaluate their value proposition to enhance the customer experience and leverage data to create value. This involves prioritizing various business segments based on their resources and competitive advantages. Banks need to develop digital platforms that support the entire customer journey, from initial search to comprehensive account management. By doing so, they can offer a seamless and personalized experience, catering to the diverse needs of their customers.
Embracing digital transformation, as demonstrated by NCBA Bank, will enable Kenyan banks to create more and more new opportunities, increase efficiency, and improve the customer experience.
The NCBA Now App is available on Google PlayStore and Apple Store
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