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CSW_2017

ABC Bank celebrates Customer Service Week

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.

CSW 2017

The Diaspora/ Retail Banking team stepped out in summer wear.

CSW 2017

The International Business Division (IBD) team showcase their African wear.

CSW 2017

The Westlands Branch team cuts a cake with customers to celebrate the week

AML software launch

ABC Bank boosts anti- money laundering program with new software

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”.

College House Branch

You can now participate in M-Akiba bond through PesaLink

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#.

The process:

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 talk2us@abcthebank.com or call 0701 700 700.

Kisumu Iftar

ABC Bank hosts Kisumu Muslims to Iftar

27th June, 2017: ABC Bank hosted Kisumu an Iftar dinner as for Muslims in Kisumu, as the faithfuls around the world marked the end of the holy month of Ramadhan.

Iftar is the meal served at the end of the day during Ramadan, to break the day’s fast. Literally, it means “breakfast.” Iftar is served at sunset during each day of Ramadan, as Muslims break the daily fast.

Through its Kisumu branch, the bank organised the event as a way of appreciating the Muslim community there for their business support. The event drew both customers and non-customers alike.

Kisumu Iftar

A cross-section of Muslim faithfuls at the event.

The bank used the opportunity to demonstrate its support for communities among which it operates, as well as to strengthen its ties with existing clients and to establish contact with new ones.

College House Branch

ABC Bank Koinange branch relocates

19th June, 2017: ABC Bank’s Koinange Street branch has moved to a new location on College House at the junction of Koinange Street and University Way in Nairobi.

The new redesigned branch opened its doors to the public on Monday 19th June 2017. The relocation is part of the bank’s plans to enhance convenience of access to customers.

The bank has redesigned its branches to respond to the changing needs of the discerning banking public, and to provide a unique banking experience to its customers.

Rosemary Kiboro (left) presents a welcome gift to a customer on the first day at the branch. Looking on is Rachael Ngandu (centre).

College House Branch

Customers being served inside the branch

Diaspora US tour 2017

ABC Bank Diaspora Banking team tours US

May 11th, 2017: ABC Bank Diaspora team is in the US for a week-long customer engagement drive meant to strengthen relations with its Diaspora customers. During the trip, the team will tour Wichita- Kansas, Dalls-Texas, and other towns in Massachusetts- Springfiled, Chelmsford and Sutton.

The tour is part of ABC Bank’s plan for Diaspora engagement and partnership-building to leverage the business opportunities both in the US and in Kenya that the Diaspora Community can benefit from.

Head of Diaspora Banking Joseph Waithaka- who has lived and worked in Oklahoma for the past 16 years- will be accompanied by a team from Dal Afrika, a real estate delevopment firm affiliated with ABC Bank.

On their tour of Massachusetts, the team will be accompanied by New England Kenyan Diaspora Sacco.

The Tour Itinerary

Date Destination           Venue
13-May 2017 Wichita, Kansas  Contact Joseph on 405-968-2291 to        confirm
16- 17 May 2017 Dallas, Texas Contact Joseph on 405-968-2291 to confirm
19 May 2017 Springfiels, Massachusetts Contact Jospeh on 405-968-2291 to confirm
20 May 2017 Chelmsford, Massachusetts ContactJoseph on 405-968-2291 to confirm
21 May 2017 Sutton, Massachusetts St. John Anglican Church

ABC Bank prides itself in providing distinguished financial service to Kenyans in the Diaspora, focusing not on remittances only, but on investments as well. Some of the investment products the bank offers to Diaspora clients (groups and individuals) include construction and project financing, mortgages/home loans, land purchase financing and asset financing among many others. The bank also offers professional investment advice to customers to enable them make informed investment decisions and enlighten them on the best investment opportunities available in Kenya.

Additionally, ABC Bank has a wide range of international money transfer services that customers can use to conveniently and securely send funds to their loved ones back in Kenya. Our award-winning Internet Banking service and user-friendly iOS and Android App which offer customers a borderless, seamless and convenient banking experience; secure local and international account-to-account transfers, mobile transfers and much more. It literally makes you your own bank teller, using PC, mobile or tablet.

For more details, contact joseph.waithaka@abcthebank.com or diaspora@abcthebank.com

Banking Awards 2017

ABC Bank bags SME banking award

5th May, 2017: ABC Bank has been recognised as the third Bank with the Lowest Charges for SMEs in Kenya.

The bank scooped the award during the 2017 Banking Awards gala organised by Think Business. This award affirms the bank’s commitment in supporting the SME sector as a key driver of the economy, by offering tailor-made financial solutions at favourable rates.

ABC Bank has over the years solidified its market position as the preferred SME bank in a country with more than 17 million SMEs, with 98 percent of them contributing 25 percent of the country’s GDP and employing up to 50 percent of the workforce, according to the Kenya National Bureau of Statistics.

ABC Bank has a fully fledged and dedicated SME Banking Unit run by a team of professional and experienced bankers with practical understanding of the SME segment. Every client is assigned a dedicated Relationship Manager and Relationship Officer to walk with them through their daily pursuit of business growth and success. Our team regularly meets all clients at their business premises to listen to their needs and offer free expert business development and management advisory.

Some of the products offered include asset finance, term loans, overdraft facilities, cheque discounting, supply chain financing, construction and project finance, mortgage facilities and trade finance.

Ar Risalah

ABC Bank sponsors Islamic oratory competition

ABC Bank was one of the sponsors of the annual Islamic Inter-school Oratory Competition that took place on Sunday 9th April at Light Academy in Karen.

The event was organized by Ar Risalah Academy and involved school children of different ages presenting poetry and oral citations on various teachings of Islam.

Ar Risalah

Children from Ar Risalah Academy making a recitation at the event.

ABC Bank continues to to support community initiatives to assist them advance their causes and nurture talent among the youth to become active participants and contributors to social and economic development in society. 

Ar Risalah Academy

A cross section of Muslim faithfuls follow the presentations.

Upendo Children

ABC Bank staff escort needy children on US tour

ABC Bank staff on 30th March saw off a group of children from Upendo Kids International as they traveled to the US on a two-week thanks-giving tour.

The tour will take the children to Oklahoma State for two weeks, during which they will meet various groups of Kenyans living there.

The bank is a close partner of the children’s center located in Juja, Kiambu county. It was founded in 2007 by a Kenyan couple living in the US- Eunice and Robert Menja- to provide child-centered programs that prepare children under their care for a lifetime of learning, while their families are empowered to become self independent.

Consolata Shrine

ABC Bank seeks to support church project – 18th March, 2017

ABC Bank representatives witnessed the ground breaking of a new office block at the Consolata Shrine in Westlands on Saturday 18th March, 2017.

The bank was represented by Industrial Area Branch Manager Ernest Njiru and Relationship Manager in charge of religious institutions business, Adelaide Khamasi .

When complete, the new Allamano Centre will accommodate offices, a pastoral office and a parking lot.

The bank continues to support religious institutions in their financial needs and projects.