Prime Bank has ventured into the digital micro-lending space with the launch of a comprehensive digital lending platform dubbed PrimeKopa, in a move to enhance its customers’ access to credit through mobile loans.
PrimeKopa is designed to provide customers easy access to instant mobile loans at a click of a button through the bank’s mobile app PrimeMobi.
Customers can now get mobile loans from KShs. 5,000 to KShs. 150,000 with flexible repayment periods of 30, 60, and 90 days.
Commenting on the launch, Managing Director Mr. Bharat Jani said the bank has been constantly enhancing its customers’ digital experience through improving and adding more products and services on the lender’s digital banking platform PrimeMobi.
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“PrimeKopa seeks to provide customers access to mobile loans with flexibility in terms of repayment in a seamless, paperless, and digital manner. We believe PrimeKopa will offer customers a differentiated digital banking experience,” said Mr. Jani
PrimeKopa guarantees customers instant disbursement of funds subject to approval, user-friendly features allowing partial and early payment of loans with no paperwork or need to visit a branch.
During the height of the Covid-19 pandemic, the bank embarked on upgrading its digital banking platform, PrimeMobi to offer users additional features.
The bank partnered with London-based fintech SimbaPay, to launch an instant international money transfer to bank accounts or mobile wallets across Africa, Europe, and Asia to more than 18 countries including the USA, Australia, India, United Kingdom, China (WeChat Pay), Germany, Uganda among others.
The bank also integrated the E-Citizen payments on the PrimeMobi to enable customers to make payments through PesaLink for services rendered by Government agencies such as the National Transport and Safety Authority (NTSA), Department of Immigration, Ministry of Lands, State Law Office among others.
“We continue to heavily invest in diversified delivery channels to ensure our customers access banking services both conveniently and efficiently,” added Mr. Jani