On Valentines day, ABC Bank was painting the town red…..with flowers and gifts. The Bank staff went about delivering Valentines gifts on behalf of our diaspora customers to their loved ones. It was a day filled with smiles and tears as recipients were amazed how their loved ones in the diaspora were able to surprise them with gifts despite being far away.
This is in line with the Bank’s mission of creating stronger relationships and demonstrates our strong beliefs in family values and relationships.
ABC Bank has once again supported The Cluster Foundation, a charity organization that provides assistance and support to people with spinal cord injury commonly known as paraplegics. ABC Bank has supported the foundation since 2012 as part of our corporate social responsibility investment.
On Monday, 29th January 2018, our Nakuru branch opened its doors to customers at their new location. The move was marked by prayers and dedication of the branch led by Rev Francis Orale of Mountain Deliverance Church.
Thank you for your business support. Karibu Sana!
On Sunday, 7th January 2018, ABC Bank Eldoret Branch staff joined Hon. Janet Sitinei, MP for Turbo Constituency, Uasin Gishu County, for a fundraising ceremony to raise school fees for 31 needy students from Turbo constituency who scored 350 marks and above in the KCPE examinations to enable them join secondary school. The Bank has been supporting community initiatives in the education sector, for it is through education that we change the world.
On 15th December 2017, ABC Bank, led by the Diaspora team, hosted the second edition of the “Diaspora mbuzi choma party” at the La Maison Royale, to appreciate our Diaspora customers who are in town to celebrate the festive season with family and friends. The Bank organised the get-together meeting in partnership with Username Investments, to interact with its Diaspora customers, strengthen the cordial relationship and identify opportunities for mutual cooperation.
“This was a great opportunity not only for the Bank to interact with the diaspora customers, but also for the customers who are in the same countries to network. They also discussed with investment professionals who advised them on current investment opportunities in the country,” Joseph Waithaka Head of Diaspora Banking said.
30th November, 2017: ABC Bank was recognized by Standard Chartered Bank for diligence and accuracy in Transactions and payments formatting (Straight Through Process – STP) during a Cocktail and Award ceremony held on 30th November, 2017 at the Norfolk Hotel. Standard Chartered Bank, our intermediary bank for international payments, awarded us for ensuring that our payments are sent in the accurate format. This means that the payments are automatically processed by the systems hence not requiring manual intervention.
30th November, 2017: ABC Bank won three awards during the 2017 Champions of Governance (CoG) awards organized by the Institute of Certified Public Secretaries of Kenya held at the Radisson Blu Hotel.
The Bank was awarded:
· Winner – Most Improved Organization 2017
· 1st runners up – Finance and Investments category
· 2nd runners up – Champion of Governance 2017
The awards affirm the Bank’s commitment in implementing and complying with principles of good governance of responsibility, accountability, fairness and transparency. The Bank has over the years invested in processes to ensure adherence to industry guidelines and that support good governance in relation with its internal and external stakeholders.
We are truly grateful for your support that has made it possible for us to come this far and be feted. Asante sana!
9th October 2017: ABC Bank joined the world in marking this year’s Customer Service Week by celebrating its relationship with customers in all its branches. The Bank engaged customers and staff in a variety of exciting activities.
The annual week-long event was marked from 2nd to 6th October. This is an international celebration of the importance of customer service and of the people who serve and support customers on a daily basis. Locally, the event is coordinated by the Institute of Customer Service of Kenya.
Customers were treated to a selection of goodies and lucky dips were lucky participants walked away with an assortment of prizes. In an effort to improve its service to customers, the bank utilized the opportunity to receive feedback from customers.
Here is a pictorial round-up of the week’s events both at branches and the Head Office.
The Libra Branch team donned in cowboy-themed attire to celebrate the week.
The Diaspora/ Retail Banking team stepped out in summer wear.
The International Business Division (IBD) team showcase their African wear.
The Westlands Branch team cuts a cake with customers to celebrate the week
Nairobi August 1, 2017: ABC Bank has enhanced its anti-money laundering program with a new anti-money laundering software which is a fully automated and robust application that features sophisticated architecture that shields it against risks associated with criminal financial dealings by automatically monitoring and blocking suspicious transactions on a real time basis.
The software design combines all major functions of anti-money laundering systems, making it highly effective in helping the Bank comply more comprehensively not only with the Proceeds of Crime and Anti-Money Laundering (Amendment) Act 2017 but also with the Foreign Account Tax Compliance Act (FATCA), a US regulation that requires foreign financial Institutions to report on foreign assets held by their American account holders. It is also effective in preventing terrorism financing globally.
“The nature of banking is rapidly changing, and this makes monitoring of unusual transactions or verifying a customer’s identity complex and time-consuming. That is why we have upgraded to more superior software that will result in greater efficiency and reduced risks for the bank,” Group Head of Risk and Compliance John Rioba said.
With enhanced real-time transaction monitoring capability, the application identifies any suspicious account activity and also patterns, thus enhancing compilation of real-time filing of Suspicious Activity Reports (SARs) or Suspicious Transaction Reports (STRs). It also features a Cash Transaction Reporting (CTR) system, which identifies and reports large cash transactions of Sh1 million ($10,000) and over, as per regulatory requirement.
Mr. Rioba added: “To achieve optimum efficiency in the implementation of our AML program, we have reviewed all our policies and processes to ensure they are efficient and in line with current requirements, the methodology and technology are sound, and our personnel well trained in line with internationally accepted best practices besides the compliance application from Infrasofttech through its local partner Innovative Software Technologies limited, ISTL in Kenya”.
IPSL- KBA, has partnered with the National Treasury, Central Deposit and Settlement Corporation (CDSC) and the Nairobi Securities Exchange (NSE) to allow M-Akiba trading through PesaLink.
The initial bond offering targets to raise Sh1 billion with a green shoe option of Sh3.5 billion.
Through a circular to bank chief executives, IPSL, the Kenya Bankers Association (KBA) subsidiary that runs the PesaLink service, said it had been invited by the National Treasury to participate in the bond due to PesaLink’s higher transaction limits. PesaLink allows customers to send upto Sh999,999 at a low cost, making it the ideal platform for those purchasing the bond.
According to the circular, IPSL will be using Paybill numbers to facilitate bond trading. “M-Akiba will be enabled through the NSE PesaLink Paybill number 889 and facilitated through PesaLink.
To trade in the bond, you will be required to register on the NSE MyTrade through NSE short code *889#.
1. Log into your individual Bank channel
2. Navigate to PesaLink option
3. Select ‘send to phone’
4. Enter 889 as the mobile number (This is the number mapped to M-Akiba account)
5. Enter amount
6. Enter reason for payment (for this purpose, enter your ID number)
7. CDSC through their nominated bank will confirm payment receipt and issue corresponding security.
For further support, contact us on firstname.lastname@example.org or call 0701 700 700.