Barclays bets on new technology to drive growth

As part of a three year corporate strategy heavily anchored on the rollout of innovative ICT based solutions, Barclays will be seeking raise its operational efficiencies to guarantee a better trading performance and shareholder value.  

 Mr.  Jeremy Awori

The use of ICT solutions, Awori, explained will also be instrumental in facilitating financial inclusion goals as Kenya celebrates its golden jubilee.

Among other programmes, Awori pointed it out that the recent unveiling of the new Barclays CashSend service has been, designed to provide a banking platform even for the unbanked masses.

The service, aptly branded as Barclays CashSend has been, launched as part of Barclays Bank of Kenya’s corporate highlight for the on-going Kenya@50 Celebrations and will allow Barclays account holders to, securely transfer money to mobile phone subscribers’. Transactions for the new Barclays CashSend service will originate from the 236 Barclays ATM’s countrywide with recipients similarly withdrawing their funds from any Barclays ATM.

In addition, Barclays Bank, Awori said, has also enhanced the security features on its Automated Teller Machines and Debit Card Point of Sale (PoS) terminals.

 “At Barclays Bank, we have revamped our online systems to allow for a seamless integration and convergence with our multi channelled mobile payment systems,” Awori said during a media briefing session yesterday.

Left.Barclays MD Jeremy Awory and Consumer Banking Director Zaheed Mustafa

The adoption of new technology systems he acknowledged will allow the bank to process transactions more efficiently and offer customers better access to services through mobile devices.

Barclays Bank has also recently launched a mobile bulk payment service to enhance service delivery for corporate clients wishing to disburse payments such as salaries, dividend payments and allowances via mobile network.

“Without a doubt, there’s a massive opportunity to create a much better customer experience a structurally lower cost with better control quality of service.  The Barclays heritage in this market and the commitment of leveraging on the One Africa strategy launched earlier on this year will propel us to massive growth across our various target segments,” he said.

The second phase of the three-year strategic growth roadmap presented by the bank in September this year will be focused on further reduction of gross non-performing loans, tailor made solutions for the SME and Business Banking segments. 

Further strengthening of the investment-banking proposition has been on a high after signing various mega deals including the on-going US$ 5 billion KenGen project and the bulk asset financing deal that saw Marriot Drilling Africa Limited receiving $ 13 million to acquire an oilrig for exploration in the recently discovered oil reserves in Northern Kenya.