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Absa invests KES 2 Billion to expand their digital banking facilities; allows instant online account opening

You can now open an Absa account in minutes from wherever you may be, and begin transacting immediately.

Absa Kenya has announced it’s upgrading its digital banking services this year. The bank has invested KES 2 Billion to undertake “technological upgrades that will significantly improve customers’ banking experiences”.

The bank says part of this investment in digital banking has gone towards their new online account opening platform which allows potential Absa customers to set up and operate an account in a matter of minutes. This is done via the internet, from any location, without the need for visiting a physical branch.

Absa Bank Kenya Managing Director Jeremy Awori stated the online account opening demonstrates their commitment to investing in digitally-led innovative solutions that are aligned with their evolving demands and expectations, as most of them prefer to transact on the go. 

“This introduction is inspired in many ways by customers’ and businesses’ desire for a simple yet efficient banking experience. The online account opening is thus a real game changer for customers and the market, as it will provide customers with a new level of ease by eliminating the need for applicants to fill out paper applications or provide multiple documents when opening an account,” Mr Awori explained.

He added, “These digital enhancements fuel Absa’s digital innovation strategy that aims to enhance customers’ experiences and promote financial access.”

Customers who open a new account will have the option of accessing the newly introduced Absa Digital Savings Account, which has an introductory interest rate of 7% per annum. The account earns daily interest and pays it out quarterly. Customers can also deposit funds quickly after activating their accounts and securely access their balance at any time and from any location.

As part of its ongoing Absa digital banking transformation, the bank invested up to KES 1.6 billion in 60 different technology projects last year, including digital loan top-ups in 15 minutes and Abby, a 24/7 WhatsApp banking virtual assistant.

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Dickson Otieno

I love reading emails when bored. I am joking. But do send them to editor@tech-ish.com.

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