cash management and electronic banking

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Cash Management and Electronic Banking

Author: nic-bank-kenya

Post on 18-Dec-2014




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The Cash Management and Electronic Banking Presentation made during the NIC Entrepreneur Workshop held on 28th May 2014


  • 1. Cash Management and Electronic Banking
  • 2. Products and Services Why Cash Management and Electronic Banking Case Studies Contacts Cash Management and Electronic Banking
  • 3. Products and Services
  • 4. Online Banking Inter-account Transfers Domestic Transfers to Other Banks Real Time Gross Settlement (RTGS) International Transfers Bulk Payments( Salaries, Suppliers) Petty Cash Requests Cross Currency Transfers Mobile Money Transfers Bulk M-PESA Payments Wage Payments through Bulk mobile money transfers. Account Information Payment ChannelsCollection Channels VIT Services In Collaboration with VIT firms for cash and cheque collections. OTC Deposit-NIC branches Real-time update of account for cash deposited at any of our branches Agent Banking Use of 99 Postbank Branches Countrywide Direct Debits Bulk Collections for regular and recurring payments M-PESA Paybill-488 A dedicated paybill that you and your suppliers can use Internet Banking Real time balances Statement viewing & Downloading Debit/Remittance Advices Secure E-mail Mobile Banking Customized Alerts Wage Point Services Wage Payment solution for low wage earners through Virtual debit cards. Products and Services
  • 5. Why Cash Management and Electronic Banking?
  • 6. Why NIC Cash Management & E-Banking Eliminates/ Minimizes the cash/ cheque handling risks Allows you to stay in control of your finances at all times Flexible and convenient Operational efficiency
  • 7. Case Studies
  • 8. Case Study 1: Agency Banking What we did for the Customer Customer Issue Customer Benefits Consolidating his collections at NIC Bank helped the customer to manage his cash flows more efficiently, save on banking costs and also improve his credit score. Customers can leverage on this to venture into new markets without worrying on how they will safely receive their sales proceeds Through our agency agreement the customer was able to receive daily banking in his NIC account through our agent banking partner Post Bank. The customer was also able to consolidate all his collections at NIC Bank Our customer, a petroleum dealer, opened a gas station in a place where NIC Bank was not physically present
  • 9. Case Study 2: Wage Point Services What we did for the Customer Customer Issue Customer Benefits This arrangement has greatly increased operational efficiency for the companies with increased productivity from the staff. In addition, Cash handling risks are also eliminated Through Wage Point Solution, the farm owners are able to pay their wage earners securely and conveniently. Our wage payment solution is suitable for large estates and industries that are remotely located (e.g. Flower Farms, Sisal Plantations, tea estates etc.) Two Sisal Plantation Farms were paying their casual employees cash wages on a weekly basis this created unnecessary cash handling risks for the farm owners
  • 10. Case Study 3: Bulk Payments What we did for the Customer Customer Issue Customer Benefits Bulk payments offers efficiency and eliminates the cash/bulk cheque handling risks Though our Bulk payment solution, which is a module on our internet banking, the customer was able to make bulk payments to multiple beneficiaries in various banks at a click of a button. This solution is suitable for salary and supplier payments. The customer was spending a significant amount of time writing cheques to pay their employees
  • 11. Contacts
  • 12. Dennis Owino Product Manager 0711041486/ 020-2888486 [email protected] Cash Management Team Contacts Dan Musungu Manager 071104133/ 020-2888333 [email protected] Email [email protected] or [email protected] Customer Contact Center : email customercare; Tel 020 2888217, 0711041111, 0732141111,SMS 20488