Businesses tap BK Open API to automate payments, track transactions in real time

Businesses and companies banking with Bank of Kigali can now automate payments, track transactions in real time, and manage collections from a single system, following the rollout of the bank’s Open API platform. The BK Open API enables fintechs, developers, and businesses to integrate banking services directly into the digital platforms they already use, the bank stated. The solution is set to reduce delays, cut manual processes, and simplify financial operations for firms dealing with increasingly complex transaction workflows, according to the bank. Following its unveiling at the Inclusive FinTech Forum in March, Bank of Kigali (BK) has now officially rolled out its Open API to corporate customers. ALSO READ: Bank of Kigali launches BK Open API at IFF, opening doors to fintech collaboration The rollout was marked by an official launch event held at Kigali Golf Resort & Villas on Thursday, April 2, where the product was introduced to BK partners, stakeholders, members of the bank’s leadership, and the BK Business Club. Beyond the unveiling, the gathering also served as a platform for networking, exchanging insights, and exploring partnerships aimed at strengthening collaboration between the bank and its clients. Corporate clients welcome the shift Corporate clients at the event welcomed the product, describing it as a step that could significantly improve operational convenience and speed. Jean-Claude Gaga, the Managing Director of Airtel Money Rwanda, emphasised the long-standing partnership between Airtel and Bank of Kigali, noting that Airtel agents rely on BK for float and e-money services. He said the Open API will further strengthen that relationship by enabling smoother and more direct service delivery. Gaga illustrated the significance of the new system by explaining that, in the past, financial managers often had to make repeated calls to follow up on transactions, confirm payments, or seek supporting documents. With the API integration, he said, much of that process can now happen instantly within one system. A chief financial officer, he noted, will be able to initiate a transaction, confirm payment, check its status, and retrieve the necessary records for internal use or auditors without leaving the office or depending on back-and-forth communication with the bank. ALSO READ: BK Group delivers strong double-digit profit growth as asset base reaches new milestone Looking ahead, Gaga said Airtel also sees potential for broader collaboration with BK, particularly in extending similar efficiencies to large SMEs that work with Airtel. Such integration, he said, would positively impact service delivery and customer satisfaction. Speaking at the event, Levi Gasangwa, BK’s Chief Business and Corporate Solutions Officer, cited Airtel, port operator and logistics firm DP World, and the local leading beverage manufacturer BRALIRWA, among the companies that have already begun integrating their systems with BK Open API, signaling what the bank sees as a wider shift toward smarter and more connected banking solutions. ALSO READ: Bank of Kigali leads multi-lender deal backing telecom infrastructure acquisition, expansion How BK Open API works for businesses, cutting complexity, improving efficiency BK Open API is designed to allow businesses and institutions to connect their internal systems directly to Bank of Kigali, enabling them to carry out a range of banking services from a single platform. Through the integration, companies can automate payments, receive payments from BK customers, and even create Bank of Kigali accounts for beneficiaries who need to access their funds. The innovation is expected to ease operations for businesses that often juggle multiple systems to handle transactions. From payroll processing to vendor payments and real-time collections, the service is intended to reduce manual work, limit platform switching, and offer a more secure and efficient way of managing financial operations. Why integration matters now Olivier Kamanzi, BK’s Client Access and Cash Management Manager, said the product comes at a time when businesses are expanding, and their operational systems are becoming more complex, making seamless integration increasingly important. He explained that many companies still spend unnecessary time moving between systems, especially when reconciling payments and updating financial records. With BK Open API, he said, the bank is offering a ready-made solution that enables both collections and disbursements through one connected channel. Enabling seamless payments and collections Kamanzi stated that for disbursements, clients use internet banking, where BK provides a dedicated sandbox environment for testing and integrating external systems into the bank’s API. Once integration is completed, companies can initiate payments ranging from salaries to vendor transactions through a single system. For collections, he added, the API is especially useful for businesses that require real-time monitoring and instant notifications whenever customers make payments. “We are opening our doors, and we want to collaborate with you so that we can ease the pain points of your accountants, finance teams, and more,” he said. Alongside the introduction of BK Open API, the bank also used the event to showcase a range of its retail and premium banking products. Officials highlighted BK’s digital lending products, including BK Quick Loan, which offers up to Rwf500,000, and BK Quick Plus, which provides up to Rwf50 million. Both products are accessible to eligible clients, with applications available end-to-end through the bank’s mobile app and internet banking platforms. For long-term financing, the bank also emphasized its mortgage offering, which provides financing of up to 20 years. In addition, BK introduced its private banking service, which offers an exclusive package with an interest rate starting at 16.5 per cent, a rate officials said remains negotiable depending on the client profile. BK’s Gasangwa said the bank remains committed to offering premium and tailored services that respond to the needs of both individual and institutional clients. He noted that BK is keen on expanding its reach across multiple segments, including retail, SMEs, agribusiness, and other strategic sectors of the economy. “We always want to hear from our clients to understand their expectations and how much we can support them, especially during these turbulent times with more unpredictability,” he said. Gasangwa added that the role of the bank is not only to provide financial services, but also to listen closely to clients, anticipate emerging challenges, and help shield customers from potential disruptions. As Bank of Kigali prepares to mark its 60th anniversary this year, Gasangwa said the milestone reflects the bank’s deep roots in the community and its continued contribution to Rwanda’s development, both locally and internationally.

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Businesses tap BK Open API to automate payments, track transactions in real time