Tuesday, May 05, 2020

Digital Banking,Lending Has Won , COVID-19 Caused It

    May 05, 2020   No comments

Co-opbank
Co-opbank Corporate Online Banking Platform 

It's not optional anymore to consider using digital banking or lending platforms during this time for both the banks , lenders and customers.

COVID-19 won, but its not right to say that as human beings because we always win, it's a matter of time this virus will be gone. The only thing the virus won is by pushing us, human beings to the digital world and its agood thing.

Banks and lenders in general are now forced to come up with or improve existing digital platforms to ensure their customers are enjoying the services as usual but from home.

To flatten the COVID-19 curve, we need to stay at home and avoid the public as much as we can but still we need for our daily expenditure money especially e-money as physical money can help transfer the virus. 

It's now easy to access money from mobile phones ,pay for goods online, send money over the internet and much more. The best thing is now all online platforms are strong and secure and this is because the banks attention is focused on the digital platforms. Thanks to COVID-19

Here are the digital ways the banks and lenders adopted to keep going in serving customers even when they're at home;

  • Mobile money- customers can now transfer money from their bank accounts straight to their mobile wallets 
  • USSD Codes & SMS - now its possible to ask for a service from your bank by simply dialling a USSD code of by sending a short message. 
  • Mobile Apps- If you have a smartphone, you can now download your bank's mobile app and transact at anytime. 
  • Internet banking- with an internet enabled device especially a laptop or a desktop, you can access your bank account, transact the way you want and its secure

The truth is banks shying away from adopting digital ways to serve their customers risk going out of business now and maybe post COVID-19. This is because customers will soon be used the digital ways of transacting and may not consider going back to bank halls.


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Mwabaya Katana

About Mwabaya Katana

Mwabaya Katana is a Finance Online Researcher and Writer.He is the founder of 'Loans Kenya' Blog.

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