HFC launches digital banking solution with plans to integrate insurance in November

(F-L) HFC Managing Director Sam Waweru (left), HF Group Chairman Steve Mainda , HFC Chief Digital Officer, Nancy Matimu, HF Group Managing Director Frank Ireri and HFC CIO George Njuguna showing the HF Whizz, the bank’s new digital banking solution.

HFC, the banking subsidiary of HF Group launched a digital financial services platform with plans to integrate insurance into the app in November.

Though other insurance entities have managed to ensure one can buy insurance the whole process unfortunately has not been integrated fully online, a plan HFC has set in motion to unveil in November.

“Insurance is coming in phase two this year, in November, though currently on the menu you can view our properties and initiate the process. It allows you to calculate how much one needs to get the land and also allow for one to deposit the amount online. We are excited with what the government is doing with blockchain for land, anything that will be put as a service we will consume and make easier for our customer,” said George Njuguna, CIO HFC, during the launch.

The app dubbed “HF Whizz” is set to accelerate the growth of the bank’s digital banking strategy marking a major advancement of HFC’s strategic focus on digital banking, which brings together years of technological research and development and an expansive partner network.

Arguably the new app is a great addition to HFC though is seen as a trend as almost every bank has an app, a statement HFC Managing Director Sam Waweru disagreed to saying that the bank’s digital banking platform is part of its business strategy to diversify and grow its retail business while it addresses consumer demand for banking on the go.

“Through HF Whizz, we want to deliver a frictionless digital experience across all our customer touchpoints with greater agility. It is our vision that the digital banking platform will enhance our customers experience, provide comprehensive business functionality and drive profitability,” said Mr. Waweru.

The platform has been developed to deliver on simplicity and speed of performance, and allows users to open a bank account, access their accounts and perform end-to-end banking transactions directly from their smart phones.

“The platform will enable customers to instantly open an account using their national identification card, transfer up to Kshs 200,000 daily, purchase goods and services and make deposits through the PAYBILL No. 100400. In addition, the platform provides lifestyle value-add functionalities such as budgeting, real time settlement, and free limitless bank account access among others. In short, this platform affords our customers functionalities that will help them manage their bank accounts remotely,” Mr. Waweru explained.

To castigate fraud, the digital platform has multiple built-in security layers including an advanced account authentication feature to ensure secure transactions.

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