KCB Group has completed certification to acquire and issue contactless
cards based on MasterCard PayPass technology. The certification process was
facilitated by Compass Plus, an international provider of
retail banking and electronic payments software to processors and financial
institutions, marking yet another milestone in the bank’s ongoing plan to revamp
its technological infrastructure.
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| Avi Mitrasaid -KCB Group Chief Information Officer. |
KCB set out to replace its entire
banking system, previously built on separate solutions from different
providers, to one fully integrated platform that would improve the bank’s
efficiency, increase performance, provide flexibility and be fault-tolerant.
Speaking after receiving the
certification certificate, that the bank’s commitment to providing its customers with innovative card
products serves to strengthen its position as one of the most advanced banks in
the region.
“As part of our ongoing strategy to
make banking easier and more convenient for our customers, we recently launched
an in-house processing centre built on TranzWare products from Compass Plus,
which has enabled us to provide our customers with innovative products and
services and reduce our product development time, allowing us to bring new
products to the market quicker,” said Mr Mitra.
KCB which is one of the Banks that was
chosen to complete the certification by the Government as part of a large-scale
project to implement contactless technology in the regionis already a Principal
Member of MasterCard. The Bank completed the acquiring certification in August
2014 and is planning to undergo the issuing certification process in the near
future. It also plans to become certified in Visa payWave for both issuing and
acquiring, JCB and UnionPay.
The Bank which started its
technological journey in 2007 has seen it roll out innovative products which
have made banking more efficient and convenient for its customers. Some of the
products that the Bank has brought to the market include Mobi-Bank, KCB Mtaani,
Electronic Queue Management System (eQMS), Internet Banking, and the recent
one, Biashar@Smart. The Bank continues to invest in technological solutions to
implement cutting-edge products and services that will make financial
transactions convenient for customers.
Mr Mitra added that due to the
platform’s advanced capabilities and by working closely with the specialists
from Compass Plus, the Bank is now able to accept MasterCard PayPass cards. The successful partnership between KCB and Compass Plus enables the Bank
to look to the future with confidence and build long-term plans based on structured
collaboration.The second stage of the project includes the full migration of
Kenya Commercial Bank’s acquiring network, more than 350 ATMs and 3,000 POS
terminals, to the TranzWare platform. The bank, which is already a Principal
Member of both Visa and MasterCard, also plans to become certified in
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