Absa Bank has entered into an interoperability partnership that will allow customers to access a network of Kenswitch ATMs and other services across the country.
Kenswitch customers will also be able to transact from Absa’s ATMs in Kenya. With more than 10 million customers in its network, Kenswitch is a formidable partner in the banking sector.
Kenswitch has been in the Kenyan market since 2002, providing intermediary services that allow interoperability for the banking sector. The company has ATM outlets in some areas where partner banks have no physical footprint, thus providing more options for customers to transact.
Other services that Kenswitch offers include: Automated Teller Machines (ATM), agent banking, merchant point of sale (pos), card issuance and hosting, channel management
“We are delighted to welcome Absa to the Kenswitch network. The addition of Absa to our network is a significant milestone toward our core objective of ensuring interoperable real-time payments across all banking channels,” Kenswitch Chairman Yousef Bazian said. “This continued growth reaffirms our commitment to increasingly providing value to our customers and deepening financial inclusion,”
Absa Bank Kenya Managing Director, Jeremy Awori acknowledged this is an important step in expanding customer options across the country.
“The majority of Kenyans, roughly 70% of the total population, also live in rural areas. As a result, this collaboration strengthens our banking network and makes Absa products and services more accessible, which is an important part of our customer obsession agenda.”
The financial sector has been one of the most adaptive in recent years, quickly embracing new ideas and technologies. This has been well affirmed by the popularity of digital financial services offered by various players in this space.
Kenswitch has 26 more banks on its platform.