Transactional Services

Transactional Banking and cash management empowers you to pay your suppliers using multiple payment methods. The products also empowers you to collect your receivables faster and receive real value for money sooner giving you visibility of your outstanding collections in good time. These methods are created with ease of use and aim at delivering various funds to your suppliers in a timely manner.

KCB Transactional banking and cash management services dates back to the bank’s inception. This is attributed to the fact that cash has been the driving force behind banking over time. In the recent past, transactional banking and cash management services have taken a new dimension with new innovations coming in to play. KCB has not been left behind in such innovations and as such has put forth a set of products and services to meet the ever changing demands of our customers.

Transactional Banking & Cash management Products and services

Transactional banking and cash management unit of KCB has the following systems and products to meet your specific needs.

  1. KCB i-Bank
  2. KCB Quick pay
  3. Host to Host solutions (Payments & Collections)
  4. Global Utilities
  5. E-Statements
  6. STP Files
  7. MT 940 Statements
  8. Cashless Distributor Collection Solution
  9. Cash Management Services
  10. E-Commerce Services

KCB i-Bank

As a flagship product, KCB i-Bank is a web based internet banking service which is accessible via tokens (both hard and soft - iTan). The system is accessible globally with very strong security capabilities. KCB i-Bank makes use of user entitlements and is multi country and multi user at the same time. It is robust and offers statements enquiries, transfers (inter account, inter-bank, electronic funds transfers- EFTs, real time gross settlements- RTGS, International payments – SWIFT, M-Pesa)Card, Bulk and Bill payments. The system supports single usage as well as multi user. Negotiated rates for multicurrency transactions are supported. All transfers under KCB i-Bank have the capabilities of template saving a payment for future use.

KCB i-Bank users enjoy a friendly user interface coupled with a variety of customization user tools. Here a user is able to change his or her six digit login ID to an easier to remember alias number or name and also change his or her Accounts to Alias names for ease of use. Users also enjoy;

  • Photo or logo uploads.
  • Daily exchange rates
  • Currency Converters
  • Quick Menu Customization
  • SMS alerts Administration
  • Beneficiary maintenance

 

In the event that you have a demand for a service which does not feature in any of the highlighted above, you can discuss with us to provide you with a tailor made solution specifically to serve your requirements.

KCB Quick pay

Standard File Interchange, operated by KCB as QuickPay, is a robust internationally acclaimed payments solution that enables the interchange of data between financial institutions and their customers for the purpose of effecting direct debit and direct credit BULK transactions.

It is a Web-based version that comes with “anywhere-access” capabilities allowing the users to initiate, verify and approve/authorize transactions from any computer terminal that has internet access. This accords the users the flexibility of scheduling the file processing at their own convenience without the restriction of office-based operations.

The platform allows users to make bulk payments such as salaries, Allowances and supplier payments via EFT, RTGS and M-Pesa.

Host to Host solutions (Payments & Collections)

i.) Host-To-Host Collections offers an avenue of effecting our customers collections (School fees, levies e.t.c.) using our expansive KCB branch network, with the added advantage of automatically reflecting each individual transaction online-real-time to our customer’s system. This is achieved through integration of our core banking system with the clients System. At the time of transaction, there will be an exchange of messages between the KCB Core Banking system and our customer’s system to update all transactions done at the bank, online-real-time, to individual accounts.

Benefits of the Host-to Host collection;

  • Increased Channels for our customers
  • Auto-Update of transactions,
  • Seamless Database Management

ii.) Host-To-Host Payments enables our customers make payments without need an intermediary payment system like internet banking. KCB integrates directs with the customers ERP system where all check are done at the customers level. Our customers are able to make salary, suppliers and other payments via EFT, RTGS and Swift

Global Utilities

A revolutionary collection solution that incorporates our customer’s database in csv format (e.g. students) in the KCB system to clearly capture the Client details when a deposit is made. The customer constantly updates the database securely via our transactional banking team. KCB will provide Straight-Through-Processing (STP) files in an agreed format that can be imported into the system. This saves time and reduces reconciliation errors arising from manual processes.

Benefits of the Global Utility Payments

  1. Match Each Deposit to Individual Client
  2. Standardized Statement Narration
  3. Reduced Errors
  4. One-Branch-Bank
  5. Auto-Reconciliation Straight Through Processing Files

E-statement

An online access portal for current, history account statement and real time account balances. Users can also confirm M-Pesa made to their account via pay bill. The platform generates statements in PDF and text format. The text file can be used as auto reconciliation Straight through File STP.

Straight through Processing-STP

Straight-through Processing ("STP") is a mechanism that automates end-to-end processing of transactions of the financial instruments. It involves use of a single system to process or control all elements of the work-flow of a financial transaction, including what is commonly known as the Front, Middle, and Back office, and General Ledger. In other words, STP can be defined as electronically capturing and processing transactions in one pass, from the point of first ‘deal’ to final settlement.

Advantage of Straight through Processing

In the traditional method, each and every transaction involves costly multiple data re-entry from paper documents and other sources which are susceptible to errors, discrepancies, delays and possible fraud. Further, the traditional means and methods of capturing and processing of information such as phone, fax, email etc. requires human intervention which slows the entire cycle, introduces errors and delays settlement. Usage of STP enables orders to be processed, confirmed, cleared and settled in a shorter time period, more cost effectively and with fewer errors. Apart from compressing the clearing and settlement time, STP also provides a flexible, cost-effective infrastructure, which enables e-business expansion through real-time processing and access to enterprise data. STP also streamlines back-office activities, leading to fewer failures, lower risks and drastically reduces costs per transaction. It embraces a set of applications, business processes and standards, which are set to revolutionize the settlement and processing standards within the capital markets industry.

MT 940 Statements

An MT940 is a standard structured SWIFT Customer Statement message. In short, it is an electronic bank account statement which has been developed by SWIFT. It is an end of day statement file which details all entries booked to an account. By supplying you with MT940 end-of-day account statement we ensure that you have precise, detailed and structured information daily on all entries booked on the account for the previous business day. The account statements can be delivered for accounts in domestic currency as well as for accounts in foreign currencies. Information is provided in a standardized format valid throughout the world.

  • You can keep track of your money by opting to have your closing and forward available balances.
  • You can choose if you’d like to identify your account by account number.
  • Moreover, you can choose to have account information on a daily basis even if there has been no turnover. In this case, you will receive so-called empty statements indicating identical opening and closing balances to facilitate your completeness check.

Cashless Distributor Collection Solution

This is to enable both corporate and SMEs to receive payments from their distribution hence assisting the bank meet its liabilities target. Other services attached to this would be attaching a credit line to the wholesalers & retailers. This is an in-house developed solution to enable our customers received cashless payment. Our system is POS and mobile POS driven. Here our customers are issued with configured devices to accept card payment to their accounts in real-time. Our solution caters for customers in Fast Moving Commodities that include Wholesales and manufacturing distributors.  Our customers enjoy real-time credit to their account thus avoid the risk of bouncing cheque.

Cash Management Services

KCB has is a range of services which help our customers manage their cash flows. We are keen to assist you collect your receivables as soon as they fall due and make your payments as late or as soon as you wish them to happen.

A range of cash management services are on demand. The following are some of such services which the unit intends to roll out one at a time.

  • Cash in Transit – for collections and payments. Service is outsourced to Security companies e.g. G4S, KK Logit, and Wells Fargo among others. We offer this on behalf of our customers.
  • Wage Point services – this entails erecting ATMs at remote customer sites for paying wages.
  • Vaulting and sorting Services – picking cash from customers, delivering to outsource firm’s vault and banking the funds at the bank or reusing the cash for ATMs replenishment or serve out other customers
  • Cheque & Online encashment -  collecting cash from the bank and delivering to customer premises based on Cheques or online requests generated by customers
  • Documents collection and dispatch- collecting customer documents as well as delivering documents to customers from the bank
  • Wage Packaging – arranging a secured pay parade at events & customer premises
  • Teller Implant (Mini branch) – using security companies to run cashiering services on behalf of the bank at customer premises e.g. hospitals, Fast moving consumer goods etc.
  • E-Depositor and Intelligent Cash Dispenser. E-Depositor is an automated collection solution where KCB Bank installs an intelligent ATM to accept cash, count and validate, and reject fake currencies. In addition, the machine updates the bank account of the customer in real time. This saves our customer on Cash in Transit (CIT) cost and at the same time give immediate value to the corporate client. Cash dispenser on the other hand, allows our customers to recycle the cash deposited in the e-Depositor. The aim of the cash dispenser is to do away with the CIT cost altogether.
  • Events Management and Ticketing. This is where KCB will be contracted to offer ticketing for ASK show or Stadia management. We shall outsource these services to worthy partners who have the experience in running these affairs.

E-Commerce Services

This is a product which enables you to receive funds electronically across the globe. KCB being the leading Card acquirer is capable of interfacing a card payment module within your website to enable you receive customers across the world.



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