Housing Finance is 2nd African company to set up WhatsApp banking

Housing Finance is 2nd African company to set up WhatsApp banking

Housing Finance has launched a WhatsApp banking solution that offers customised mobile services to its customers.

It becomes the second company in Africa to set up such a service after First Bank in Nigeria.

“Banks are becoming a place where people don’t go anymore and what we are offering is to ensure convenience to our customers,” HF Group CEO Robert Kibaara.

Customers can interact with the bank on WhatsApp for services such as account opening, funds transfers, loans, bill payments and goods purchases.

According to him, the main concern before the launch was security of customer funds, an issue he says has been addressed.

To subscribe to the service, customers are required to save the bank’s WhatsApp phone number.

Access to the chat is granted on an individual and personalised basis.

The bank uses artificial intelligence to interact with customers and perform human-like tasks.

“We employed the services of top IT companies in the country to try and break through our firewall and expose weaknesses in the system before we launch it,” Kibaara said.

According to HF group, increase use of mobile phones and internet in Kenya drove the decision to introduce the services on WhatsApp.

84percent of Kenya’s population has access to the internet while 91percent have a mobile phone.

WhatsApp is the most used social media platform in the country, according to the Jumia Kenya Mobile Report 2019.

Nigeria’s First Bank launched its WhatsApp banking service in October 2018.

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