Kenya Police Sacco goes digital to net youth – KBC

Kenya Police Sacco is banking on automation of services to net more youth who are heavy digital service consumers.

National Chairman David Mategwa says automation is an avenue to intensify mobilization of savings, especially among the youth.

Banks such as Equity Bank, Cooperative Bank and KCB have moved about 90 per cent of transactions away from banking halls.

This includes mobile banking, contact centres, ATMs, internet banking and banking agents.

This is what players in the cooperative movement are also embracing efforts to offer convenience to customers as well as reduce the cost of operation.

Mategwa says digital banking is providing a platform for Saccos to introduce what he terms as virtual branches.

He says digital banking offers an opportunity to nurture a saving culture among the youth who have embraced digital technology.

He welcomed the move by the cabinet to approve the Sacco National Policy noting that it will help solve issues in the cooperative movement such as mismanagement.