The system, called T24, is expected to integrate eight other separate systems that the bank uses currently.
Some of the systems are used in agency banking while others run its mobile banking service, but these will now be integrated under the new banking platform.
"We are acquiring the system which should come with software and hardware that will help cut operational costs and improve the way we deliver our services to customers," said
KCB's cost-to-income ratio (CIR) at the end of March stood at 49 per cent, down from 51 per cent last December and 64 per
"Cost containment is one area we can say we have managed to deal with ahead of schedule. It was a herculean task because two years ago it stood at 64 per cent," said
READ: KCB seeks to grow customer numbers by two million
The KCB chief executive said he sees possibility of increased convergence between the telecoms and banking sectors. KCB, which already offers mobile banking products under the M-Benki platform, has plans to put more services on the mobile phone.
"What we are seeing is convergence between the mobile and banking businesses. We are looking at technology as a way of delivering and increasing the number of our products and services," said
The intended launch next month of
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