Co-operative Bank of Kenya, in partnership with Visa,
have launched a Debit Card, a Credit Card and a Pre-paid Business Card designed
to transform how Medium and Small Business Enterprises, Cooperative Societies
and Corporate Institutions in Kenya manage their expenses, empower employees
and optimize financial control.
The cards, which can be used both locally and internationally, enable customers to
separate business expenses from personal expenses, make payments directly from
their business account, access interest-free credit to manage cash flow, digitize
and track office and travel expenses while enjoying business-centric discounts
from selected Visa merchants globally. The cards are available to existing Co-op
Bank customers and non-customers, and can be obtained from any Co-op Bank
branch countrywide.
In delivering his keynote speech at the event, Co-op Bank’s Ag. Director of Retail
Banking Mr. Moses Gitau noted that this event marks a major milestone in Co-op
bank’s digital transformation journey in which the bank has invested heavily
including the successful upgrade of its core banking system in 2023 at a cost of
over Kes 5Billion, to drive innovation and support businesses in their digitization
efforts by bringing together the best in banking and technology.
Visa East Africa Vice President and General Manager remarked, “this launch marks
a significant milestone in our partnership with Co-op bank and our ongoing efforts
to support small and medium-sized enterprises (SMEs) and commercial enterprises
in their journey towards digital transformation. Digital payments are not just
convenient; they are a catalyst for business growth and economic development. In
today’s fast-paced digital world, businesses need to adapt to stay competitive, and
digital payments play a crucial role in this transformation”
Recently, the Bank has received several awards including the highest IT accolade
in the banking sector at this year’s CIO100 Awards which celebrate innovation,
leadership and excellence of organizations that have made a tangible impact on
business operations, community development, and digital transformation across
the African continent.