Bank of Kigali has launched a campaign aimed at encouraging its clients to embrace cashless economy whereby they can access services and transact digitally.
The campaign, dubbed ‘SingombwaKashi’, which loosely translates to ‘cash not always a must’, will run for three months, with an aim to encourage customers to perform different banking transactions anytime, anywhere using its new digital platforms.
The campaign, the bank says, is in line with supporting the Government’s vision to promote a cashless economy on top of ensuring their clients are served without having to go to banking halls.
To make transactions more efficient and convenient for customers, the bank launched three digital products; BKquick, BK Mobile App and BK Online Banking through which customers will be able to access services and perform transactions.
Dr Diane Karusisi, the bank’s chief executive officer, said that customers will be encouraged to use available non-cash solutions for their everyday transactions.
"We want our customers to make bank transactions digitally from their homes or somewhere else so they can be more productive in their everyday work. We also want them to ease their cash flow because now they can access loans instantly to solve small problems,” said Karusisi.
With BKquick, by dialing *334#, customers will specifically be able apply and access loans using their mobile phones, in less than a minute, to be able to solve their financial problems easily and instantly.
In this process, people will be able to access loans for either one, three or six months, with an interest rate of 4 per cent. In case a loan applicant delays the loan payment, they pay an additional 2 per cent penalty of the defaulted loan.
The loan limit is Rwf500,000, which may vary depending on how the customer makes transactions on their accounts.
Through BKquick, the more transactions are made on the customers’ account, the more amount of money they get on loan.
Karusisi said, "We have got new digital services within the client’s reach where they can save, send money or access loans without queuing to the bank, so they can solve their problem as fast as possible. The new products will add convenience for our clients because the life people currently live is a busy one,” Karusisi said.
The same type of loan, and other transactions like savings or shopping, can be applied using BK Mobile app, where a customer can download the bank’s updated application version in their android phones and start accessing different transactions.
The services can also be accessed online on their laptops via BK Online Banking.
The services will be available 24 hours/7 days.
Jackline Mugwaneza, a representative from Rwanda Bank Association, hailed the bank’s efforts in facilitating its customer’s access it financial services.
"We are glad that the new products will not only make it easy for the bank to efficiently serve its customers but also help them manage time taken looking for the same service at the bank’s offices.
"They can now save that time to increase their productivity. The task that remains ahead is to ensure the efficiency of the new products so the customers can easily access them,” she said.
The campaign follows ‘Bigereho’, launched last year as part of the bank’s 50-year anniversary, during which 30,000 more clients across the country joined the bank over the course of the year.
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