Kenya: Gulf [African Bank] Starts Paperless Banking

Mar 29, 2018 | Daily Nation; All Africa

Islamic lender Gulf African Bank has started paperless banking as it pushes to cut operational costs.

Customers depositing cash and cheques at the bank will go straight to the point of service without filling any forms. Several other lenders including Co-operative Bank of Kenya, Family Bank, Barclays Bank of Kenya, Chase Which is under receivership, Diamond Trust and KCB have installed the paperless system. "Our customers can now enjoy seamless experience whenever they visit any of our branches countrywide where this new service has taken the place of traditional paper products," Gulf African Bank managing director Abdallah Abdulkhalik said. Under the paperless system, depositors tell the bank clerks their account details and the amount to be posted. Completion of the transaction is evidenced by a system-generated receipt. Previously, Gulf African Bank tellers used to feed paper to the printer for printing of the transaction details. Source: All Africa