UBA Kenya Launches Virtual Savings Account-Akiba Mkononi

UBA Kenya on Thursday, March 20, 2014 launched “Akiba Mkononi” a Virtual Savings Account. UBA Kenya launched the product to tap the unbanked population within Kenya.

L-R: MD/CEO, UBA Kenya, Mr. Tunji Adeniyi; Speaker of the Kenyan National Assembly, Rt. Hon. Justin Muturi and Chairman, UBA Kenya, Mr. Ngugi Kiuna signing up on the Akiba Mkononi virtual savings account during the launch.

Akiba Mkononi is an innovative product that allows individuals to open and operate a Savings Account using their mobile phone devices. It is an easy and stress free solution for individuals who want to save money via a platform that is paperless, readily available on demand and easy to operate. This virtual savings account will also allow customers to access insurance by paying their premiums through their Akiba Mkononi Virtual savings accounts.

The Virtual savings account can be accessed through the Airtel Money menu on an Airtel mobile phone.

Akiba Mkononi will enable customers to save money by transferring funds from their Airtel Money wallets to their Virtual savings account in UBA Kenya which will earn affordable interest rates.

“A lot of advances have been made within the mobile and electronic banking space within the last two years and now with Akiba Mkononi, individuals will be able to save with very attractive interest rates, access affordable insurance cover and load their prepaid cards all from their mobile phones,” said Mr. Tunji Adeniyi, MD/CEO, UBA Kenya, during the launch of Akiba Mkononi at the Sarova Stanley hotel, Nairobi.

“Akiba Mkononi is very efficient and easy to use as all the transactions are a dial away on your mobile phone. One can opt to save, withdraw money or pay for other services all with ease on their Airtel SIM cards and a mobile phone.” Mr. Tunji added.