Absa Bank Kenya PLC has today unleashed a new raft of products and services, tailored to meet the ever-changing needs of the Small and Medium-sized Enterprises(SMEs) segment.
Absa Kenya Plc Managing Director Jeremy Awori announced that the bank has revamped its Wezesha SME proposition to include unsecured loans of up to KSh 10 million and LPO financing and invoice discounting of up to KSh 50 million. It also announced plans to launch an SME Tool that will enable owners of small businesses to perform important functions like online planning and cashflow management.
He made this disclosure today during a bell-ringing ceremony at the Nairobi bourse, held to celebrate the change of Barclays Bank of Kenya ticker symbol from BBK to Absa. A ticker symbol or stock symbol is an abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market.
As part of this change, the bank has upgraded some of its technology infrastructure and will be rolling out various exciting propositions under the new brand. Additionally, the bank has introduced a revamped Absa Mobile Banking app which, apart from permitting customers to pay bills, transact and buy airtime, will enable them to use their fingerprint or facial recognition to unlock and gain access.
Absa has also redefined its mortgage offering to include 100% financing, offering the lowest interest rate in the market at 11.75%, and a waiver on all legal fees for customers transferring their mortgages to Absa.