Paynet Kenya seal deal with Transnational Bank for an electronic bulk payments System

Transnational Bank CEO- Sammy Langat and Paynet Group GCEO-Bernard Matthewman sign documents as  Paynet Kenya GM for Business Development-Karimi Ithau looks on. The system will help TNBL in bulk payments

Kenya’s electronic banking and card solutions provider, Paynet Kenya has today announced an agreement with Trans National Bank Limited (TNBL) that will see the deployment of a bulk payments system at the bank.
 The system expected to go live in a few days  will improve how large enterprises that bank with TNBL pay their employees and workers as well as manage their many recurring  pay-outs.
 “We are delighted to see TNBL aggressively pursuing a service excellence strategy through use of smart electronic banking technologies. This payment system will give the bank a competitive edge in the transmission and management of structured electronic payments,” said Bernard Matthewman- CEO of the Paynet Group.
TNBL’s CEO, Sammy Langat said the system will help the bank manage its clients recurring payment obligations. “The system we are acquiring from Paynet Kenya will enable efficient and secure processing of large salary files into respective employees’ accounts for our large clients in agricultural, manufacturing and corporate businesses,” he said.
 “It will be effective in our clients settings as it seamlessly integrate with TNBL’s banking system and Chapaa Popote, our mobile banking platform,” he said.
 This new system further establishes a new way for the bank to exchange financial data with its corporate clients replacing the culture of paper schedules and memory sticks.
 This spells huge savings for firms that employ thousands of workers with payments of salaries and wages going fully electronic on a system that also offers elaborate traceability of transactions.
 TNBL said it adopting the system was part of advancing the bank’s service excellence strategy whose goals remained to reduce paper pushing, between the bank back office work and clients.
 “The key advantage of the system is its ease of  use by both bank on one end , and its clients on the other, and its coexistence with other banking systems. It continues to receive high customer ratings from multiple banks that are using it” says Karimi Ithau, Paynet Kenya’s General Manager for Business Development.