The banking sector in Kenya is currently seeing the embracing of digital products. This has set multiple players in the banking industry on an innovation spree geared towards offering customers efficient, convenient and cheap ways to bank without the traditional hustle of over-the-counter.
Yet, there is no bank that has invested as heavily as co-operative Bank in digital and internet banking. Over the past few years, the bank has channeled more funds towards digitizing its offering under its Soaring Eagle strategy.
Among digital products that it has launched is the online banking platform that allows customers to bank from the comfort of their internet-enabled devices.
Co-op Bank currently provides two portals for both retail and corporate online banking. This is aimed at fulfilling the needs of the retail customer while matching the needs of the corporate client.
It also means that both sets of customers will no longer need to either queue to make deposits, transfers, payments or any other bank transactions.
Let us take a look at this product in depth.
To start using Co-op’s online banking services, you will only be required to follow a few simple steps as follows:
- Visit your nearest Co-op Bank branch and complete an application form.
- Fill in a token collection form.
If you do not bank with Co-operative Bank, you can still apply to use the service by following these steps:
- Complete an application at your nearest Co-op Bank branch.
- Complete a token collection form.
- Present a certificate of incorporation.
- Present the Memorandum and Articles of your Association.
- Present the national IDs or passport copies of the directors in your association.
According to Co-op Bank, once your request has been approved, you will immediately receive your username and passwords at your email account. “These details will be automatically generate by our Co-op net system,” says the bank in a statement.
If you are an individual customer, you will be charged Sh. 100 to make all the transactions you may wish. “If you’re an SME or Corporate, you will be charged Sh. 500 and Sh. 1,000 respectively.”
