In a dynamic testament to Kenya's financial evolution, Choice Microfinance Bank (MFB) has emerged as a pioneering force, reshaping the industry through strategic investments and innovative solutions.
Since its inception in 2015, Choice Bank has undergone a remarkable transformation, evolving from a diaspora-focused entity to a local powerhouse, fueled by a recent strategic investment and acquisition by Wakanda Network Limited in October 2021.
Under the stewardship of CEO Bonface Ombui, Choice Bank is spearheading a bold rebranding initiative, with a relentless focus on delivering unparalleled value to stakeholders while prioritizing customer satisfaction and operational efficiency.
Ombui's vision to redefine digital banking underscores the bank's commitment to staying ahead of the curve in an era defined by rapid technological advancement and shifting consumer demands.
Central to Choice Bank's strategic agenda is its proactive response to the burgeoning demand for seamless remittance channels and digital banking services. Leveraging a cutting-edge Global Payment System, the bank has streamlined overseas transactions, boasting transaction times of under five minutes, thereby expanding its clientele and solidifying its position as an industry leader.
Furthermore, Choice Bank's participation in the National Payment System (NPS) marks a significant milestone, enabling the bank to enhance efficiency and expedite transaction processing.
With the ability to effect Real-Time Gross Settlement (RTGS) transactions within 20 minutes, the NPS empowers Choice Bank to optimize cost efficiencies, reduce transactional overheads by up to 40%, and exercise greater control over liquidity management.
The integration of NPS not only underscores Choice Bank's commitment to technological innovation but also reinforces its customer-centric ethos, ensuring swift and reliable payment solutions for its diverse customer base.
By consolidating its position within the NPS framework, Choice Bank is poised to drive further growth and deliver tangible benefits to both customers and shareholders alike.
Additionally, Choice Bank's forex function, operated under its treasury department, continues to be a cornerstone of its success, offering competitive and innovative solutions to meet the evolving needs of clients in the global marketplace.
As the financial landscape undergoes unprecedented transformation, Choice Bank stands at the vanguard of innovation, setting new benchmarks for excellence in digital banking and customer service.
With a steadfast commitment to adaptability and a strategic focus on sustainable competitive advantage, Choice Bank is well-positioned to navigate the complexities of the modern banking landscape and emerge as a beacon of success in Kenya's financial ecosystem.
“Our aim is to make Choice Bank the preferred choice for customers. Our vision is to empower individuals and businesses with comprehensive, affordable, and high-quality financial services tailored to their specific needs, fostering economic growth and prosperity across the continent“says the CEO Mr. Ombui.
You can learn more about Choice Bank’s products and services through;
Email: [email protected], Facebook, Instagram or Website: https://choice-bank.com/