Press Release: Jamii Bora Bank, Solo Payment Solutions in Agency Banking Arrangement

One of Kenya’s fastest growing banks, Jamii Bora Bank Limited (JBBL), and an African Vending Systems Company, Solo Payment Systems, have launched an agency relationship to enable JBBL to reach more of its customers across the country.

The relationship will see JBBL use Solo Agency’s network through their automated kiosks located at strategic locations, such as; malls, retail stores and ATM lobbies.

Speaking at the launch, Jamii Bora Bank Chief Executive, Samuel Kimani, said the launch marked an important milestone in the bank’s quest to expand its reach and grow its business.

“This agency relationship will enable our customers to make deposits at any one Point of Sale machine with us, through Solo Payment’s machine network,” said Kimani.

Vasily Rakou, the Managing Director of Solo Payment Solutions, stated that the company has a large agency network of over 198 kiosks located country wide with the major concentration being within Nairobi.

He added that Solo Payment’s wide network of Point of Sale kiosks, makes them ideal partners with whom to avail deposit making services to the Bank’s customers.

Vasily Rakou stated that Solo Payment would be responsible for providing and installing the POS Terminals. They would also support the Bank’s efforts to promote service delivery through the use of POS Terminals in designated Agent’s outlets.

“The POS Terminals are very efficient and would be very convenient for Jamii Bora’s clientele as they will have 24/7 access to the Solo kiosks; including weekends and public holidays,” stated Rakou, “Jamii Bora Bank will leverage on our vast network to reach their customers without needing to expand its own infrastructure hence cutting down on the cost of operations,” added Rakou.

JBBL’s Customers will be able to deposit funds from as low as Kshs. 100 to a maximum of Kshs. 1,000,000.