Deposits taking microfinance institution, Kenya Women Finance Trust [KWFT DTM] in conjunction with consumer electronics firm, Samsung Electronics East Africa [SEEA] have entered a partnership to promote the uptake of mobile technology solutions among women. The joint programme by KWFT DTM and Samsung is geared facilitating mobile banking solutions for millions of unbanked women in Kenya.

The two firms have pledged to target the provision of mobile banking services to more than 600,000 women account holders at KWFT DTM. They intends to double its account holders by the end of 2013.

Mobile phone advancement

Speaking during a breakfast event to mark the partnership, SEEA Business Leader Mr Robert Ngeru explained that the firm will provide Samsung phones for onward lending to KWFT DTM account holders to boost the recently launched KWFT Mobile banking product uptake.

Ngeru disclosed that Samsung will also provide a platform for local Mobile Application (Apps) Architects to develop suitable mobile banking products to be hosted on the Samsung Apps store. Such Apps, he explained will be customized to meet local demands including language considerations.

KWFT DTM Board chairperson Dr. Mary Okelo termed the M-banking service a great milestone since in the past, clients have had to travel long distances to access financial services.

With the new partnership, KWFT DTM Managing Director Mwangi Githaiga, confirmed that the deposit taking micro finance institution will provide a range of Samsung Phones at affordable rates to account holders allowing them to conveniently access mobile banking solutions alongside other benefits arising from Internet access. Ngeru reiterated that the partnership with KWFT DTM is part of Samsung’s strategy to provide a platform for more than 8 million mobile subscribers to upgrade from basic mobile handsets functionalities to smart phone capabilities.

“In a market such as Kenya and indeed in the rest of the third world countries, Mobile phones are increasingly becoming a key tool for economic and social survival with a proven capacity to act as development catalysts,” Ngeru noted.

And added: “for this reason, Samsung is very keen to forge partnerships with organisations such as KWFT DTM in our quest to bridge the digital and economic divide through quality and affordable devices. We shall actively seek to develop customised Mobile Banking Apps to further support social financial inclusion efforts in Kenya and beyond.”

According to KWFT DTM Managing Director Mwangi Githaiga, the institutions Account holders are currently using KWFT’s mobile banking service for loan repayments and savings.

“With the Samsung partnership, KWFT DTM is now very well positioned to empower women to purchase a phone which is undoubtedly a very valuable business tool through easy and flexible terms as part of our strategy to bank on women through enhanced telecommunication access,” Githaiga said.

The KWFT Mobile Banking Service is loaded with features allowing Account holders to access services such as Balance enquiries, Mini statements, Funds Transfers, M-Pesa, Purchase airtime, ATM Services and Utility bill payments.

KWFT DTM has witnessed growth through its delivery channels, which include 225 physical offices, ATMs both own and shared on Kenswitch network and now mobile banking that facilitates micro savings and payments, thus further deepening its outreach and financial inclusion.