Barclays Bank of Kenya launches Mobile Banking Services.
Earlier this week, Barclays Bank of Kenya (BBK), Kenya’s largest bank in terms of assets finally launched a mobile banking service, Hello Money. Hello Money is a USSD-based mobile banking solution that uses a secure gateway and PIN code entry for customers – this is far more secure than the “push and pull” SMS-based mobile banking that is vulnerable to hacking.
The Hello Money service is being offered to BBK customers currently in conjunction with Safaricom, Kenya’s leading mobile network – the service will be extended to other mobile networks in due course. There is nothing specifically revolutionary about the BBK mobile banking solution since other Banks in Kenya like the Co-operative Bank, Equity Bank and Standard Chartered Bank already have mobile banking offerings in place and have done so for sometime now.
Rumour has it that the service was developed and delivered in Kenya by Cellulant, the value added services (VAS) mobile company. This is quite encouraging since BBK has been known in the past for sourcing ICT solutions almost exclusively from their UK operations and then localizing them to the marketplace.
Nevertheless, the Hello Money service will greatly improve BBK customers’ banking convenience and efficiency by enabling the following services directly from the mobile phone:
- Checking of bank account balances
- Transferring funds from one account to another
- Pay for utilities like water and electricity bills
- Ordering of checkbooks and statements
- Secure changing of PIN