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”.
July 22nd, 2017: Children at the Twaweza Pamoja Children’s Home in Kayole have benefited from a donation of various food and toiletry items from ABC Bank staff who visited them over the weekend.
The group of staff led by the Head of Diaspora Banking Joseph Waithaka spent the weekend with the children who are drawn mostly from the sprawling low-income Kayole residential area. Some are orphans while others are neglected or vulnerable children whose parents or guardians are unable to fend for them.
ABC Bank staff donate food stuufs to Twaweza Pamoja Children’s Home in Kayole
The center was founded Annah Ndeto is a former journalist and a board member of Association of Media Women in Kenya (AMWIK), a publisher and communications consultant.
The center houses over 100 children, with some of them returning to their homes daily. The center also supports their education, clothing and other basic needs. It relies on well-wishers for support.
Twaweza Pamoja children are excited by the Bank’s visit
Joseph Waithaka said ABC Bank invests in supporting communities as a way of giving back and improving livelihoods, adding that the inaugural visit to the center was the beginning of a long lasting relationship.
Thanking ABC Bank for the support, Ms. Ndeto highlighted the myriad challenges that come with running the children’s home in an area surrounded by poverty among other issues.
13th July, 2017: As part of its continuous Diaspora market outreach, ABC Bank is on a two- day tour of Qatar where it will meet Kenyans living there. The team will pitch tent in Doha, at the Concorde Hotel on the 14th and 15th July, where it will join members of the Corniche Diaspora Sacco and other Kenyans.
The team will utilize the opportunity to reinforce relations with its customers there, as well as forge new ones.
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 the ABC D’Bouquet, which is an insurance product that provides customers with a host of last expense benefits in case of bereavement.
Other products for our Diaspora clientele include investments, 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 to 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 send funds conveniently and securely 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.
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13th July 2017: ABC Bank has launched fully automated clearing system that will speed up cheque processing significantly for customers, hence hastening payments and improving business efficiency.
Sybrin is a flexible and more robust solution for high-speed documentation imaging and transaction processing and will enable the bank to provide its customers with instant account transaction updates, a departure from the past where customer accounts would be credited the following day after the transactions. It eliminates a bulk of manual processes associated with older clearing systems.
The migration to the new is part of the bank’s continuous upgrade plans to enhance efficiency in service delivery to customers.
“ABC Bank continues to invest in new systems and solutions like Sybrin that support the changing needs of the banking customer. We acknowledge that in the fast-paced world we live in today, speed and convenience are key customer expectations,” ABC Bank Head of Operations Elizabeth Kimani said.
Sybrin clearing system facilitates the processing of cheques, electronic funds transfers (EFTs), direct debits, standing orders, salary processing among others.
Ms. Kimani added: Cheques and other traditional settlement instruments remain important components in payments, especially among business customers; as such, we deem it important to make them as convenient as new-age systems of payment hence the investment in the upgrade.
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 email@example.com or call 0701 700 700.
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.
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.
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.
A cross-section of Muslim faithfuls at the event.
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 for 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.
ABC Bank sponsored the food festival and fun day organized by the Medical Fund of Siri Guru Singh Sabha in Mombasa. It was also the 23rd anniversary celebration.
The Medical Fund is a Sikh charitable health fund founded on the principles of hard work, sincerity, honesty and sharing with others. It fund mobilises resources from its members who contribute to a common pool from which all benefit equitably.
The bank’s sponsorship was in appreciation of the fruitful relationship it has had with the Sikh community in Mombasa and across Kenya.
18th May, 2017: ABC Bank has donated Sh100,000 to the Mater Misericordiae Hospital in support of this year’s Mater Heart Run to be held on Saturday 20th May at the Nyayo National Stadium.
Presenting the cheque, ABC Bank’s Head of Retail Banking Amanda Corline said the bank is committed to investing in health care support initiatives as a way of giving back to communities where it has operations.
Started in 1996, the Mater Heart Run is an annual event that seeks to raise funds for the treatment of children with heart conditions, either through surgery or interventional cardiac catheterization.
Since inception, the Mater Cardiac Program has benefited over 3,000 children. The program has grown from handling 20 open heart operations to 200 cases a year. The majority are Kenyan children; however children from Uganda, Tanzania, Ethiopia, Malawi and Zambia have also been treated.