How Technology is Shaping the Next Generation of Financial Services!
As economies expand and diversify, the demand for accessible and dependable financial services increases, and the role of innovative banking solutions has become crucial. Organizations that promote customer-centric approaches and technological advancements do boost economic development. These banks are not just financial entities but catalysts for change that empower individuals and businesses to reach their potential.
UBA Kenya Bank Ltd was established in 2009 as a subsidiary of United Bank for Africa (UBA) Plc. United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than forty-five million customers, across 1,000 business offices and customer touch points in 20 African countries. With presence in New York, London, Paris and Dubai, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.
UBA Kenya is positioned to be a go to partner for individuals, SMEs, Corporates, Governments, NGOs, Embassies and Multilateral Agencies operating in Kenya and beyond borders.
Kenya stands as a dynamic hub in East Africa, with a robust economy driven by innovation, entrepreneurship, and strategic connectivity to global markets. UBA recognizes Kenya’s pivotal role in Africa’s economic landscape and has positioned itself to support this growth through tailored banking solutions, trade finance, and digital innovation.
Unveiling the Leadership Journey:
A Trailblazer in Banking Leadership
Mary Mulili serves as the Managing Director/CEO of UBA Kenya, marking a significant milestone in her extensive banking career. With over two decades of experience, she has excelled in various sectors, including corporate, commercial, public sector, and digital banking. Her dedication to delivering innovative financial solutions has garnered recognition from both customers and industry stakeholders.
Joining UBA Kenya represented a pivotal moment for Mary, aligning with her values of innovation and customer focus while contributing to Africa’s economic growth. Her ascent to CEO is particularly noteworthy as she becomes the first female leader of the bank, symbolizing progress in gender equality within the financial sector. This achievement reflects her commitment to empowering women to pursue leadership roles in banking.
Throughout her career, she has emphasized the importance of maintaining one’s values and fostering inclusive environments. As UBA Kenya navigates the evolving banking landscape, she remains dedicated to driving positive change and supporting diversity, ensuring that the bank continues to thrive in excellence within the financial industry.
UBA Plc at 75: Building a Legacy of Growth, Innovation, and Financial Inclusion
For UBA Plc, the past 75 years have not merely marked the passage of time but have birthed a legacy of resilience, innovation, and unwavering commitment to meeting the financial needs of its diverse clientele. From its humble beginnings to its current status as a pan-African financial leader with a global footprint, UBA’s journey is a testament to its strategic foresight and adaptability in a constantly evolving banking landscape.
Innovation as a Competitive Edge
Innovation is integral to UBA Kenya’s strategy for achieving a competitive advantage in the banking sector. By embracing a digital-first approach, the bank caters to a tech-savvy customer base, enhancing service delivery and expanding its reach. Key innovations include LEO Chat Banking, an AI-powered chatbot that facilitates banking transactions via social media platforms, and comprehensive internet banking services that provide 24/7 account access. This mobile-centric strategy positions UBA Kenya as a leader in convenience amidst a rapidly evolving financial landscape.
Additionally, UBA Kenya prioritizes financial inclusion through technology. Initiatives such as the Braille account opening service ensure that visually impaired individuals can access banking services without barriers. Collaborations with organizations like the Kenya Society for the Blind further underscore UBA’s commitment to inclusivity.
These innovative practices not only enhance the customer experience but also differentiate UBA Kenya as a socially responsible institution. By focusing on accessible banking solutions, UBA Kenya effectively meets the diverse needs of all Kenyans, solidifying its position as a trusted financial partner and leader in the African banking industry.
Facilitating African Trade Through Banking Services
UBA Kenya plays a crucial role in promoting intra-African trade by providing a comprehensive range of banking services tailored to support businesses engaged in cross-border transactions. With a Pan-African presence spanning 20 countries and connections to major global financial hubs, UBA Kenya enables cross border transactions and provide payment solutions to businesses operating outside of Kenya and within the African Continent and beyond.
UBA Connect, allows customers to withdraw and deposit funds at any UBA branch across Africa, reducing the complexities associated with multi-country operations. The Africash platform facilitates instant cross-border money transfers, streamlining payment processes for businesses needing to transact quickly with suppliers.
Additionally, UBA Kenya offers robust trade finance solutions, including letters of credit and bank guarantees, ensuring that importers and exporters have the necessary financial resources to conduct their operations while managing trade risks. The bank also provides various forex and currency solutions to help businesses navigate the complexities of multi-currency transactions.
Through its partnership with the African Continental Free Trade Area (AfCFTA), UBA Kenya is committed to supporting exporters and manufacturers, further enhancing its role as a facilitator of trade within Africa.
Corporate Governance and Risk Management
At UBA, we have a well-entrenched risk management and strong corporate governance practices essential for building trust with our customers, stakeholders and regulators. The Bank has a robust regulatory understanding and interface led by dynamic management team across geographies.
Commitment to Infrastructural Development
UBA Kenya provides various financing solutions that cater to the capital-intensive nature of infrastructure projects. These include long-term loans, project finance, and public-private partnership (PPP) funding for sectors such as transport, energy, healthcare, and education.
- Project Finance: UBA Kenya offers project finance for large-scale infrastructure projects, including roads, bridges, airports, power plants, and more. The bank works closely with developers, government bodies, and private investors to ensure the availability of funds throughout the project lifecycle.
- Public-Private Partnerships (PPPs): UBA Kenya facilitates PPPs by providing financing solutions to projects that involve both government entities and private sector players. PPPs are crucial for infrastructure development, especially in areas like energy, healthcare, and transportation, where public and private sector collaboration can accelerate project delivery.
- Syndicated Loans: For particularly large infrastructure projects, UBA Kenya participates in syndicated loans, where multiple banks collaborate to provide the capital required. This allows the bank to share the risk while funding major projects that contribute to economic development.
Creating Value for Stakeholders
UBA Kenya generates value for its stakeholders through a range of initiatives designed to promote mutual growth and sustainability. The bank focuses on providing tailored financial solutions that cater to the diverse needs of its customers, from small and medium enterprises (SMEs) to large corporations and individuals.
Strategic Advantage Through Pan-African Presence
- Facilitating Cross-Border Trade and Payments: One of the most significant ways UBA Kenya leverages the Group’s presence in 20 African countries is by facilitating cross-border trade and payments within the continent.
- Leveraging a Pan-African Customer Base: UBA Group’s presence across Africa gives UBA Kenya access to a broad customer base that includes businesses and individuals spread across multiple countries. This allows the bank to offer services that cater to both local and regional clients.
- Strengthening Regional Partnerships and Alliances: The UBA Group’s extensive African presence allows UBA Kenya to engage in regional partnerships and collaborations that strengthen its position as a key player in the financial sector. The bank can leverage UBA Group’s relationships with regional development institutions, governments, and other key stakeholders.
Adaptation to Financial Sector Changes
UBA Kenya has effectively adapted to changes in the financial services sector by embracing digital transformation and innovation. The bank has integrated advanced technologies to enhance efficiency and customer accessibility, aligning with the growing demand for digital banking.
To promote financial inclusion, UBA Kenya has developed products specifically designed for underserved populations. A notable example is the introduction of Braille account opening forms, which empower visually impaired customers to access banking services independently. This initiative reflects UBA Kenya’s commitment to inclusivity and aligns with national goals for broader financial access.
By focusing on these innovations, UBA Kenya not only meets regulatory requirements but also positions itself as a leader in providing accessible financial services, ensuring that no segment of the population is left behind in the evolving banking landscape.
The Road Ahead: Vision for the Future
As UBA Kenya looks to the future, it remains committed to its core values of excellence, enterprise, and execution. The overall bank’s vision is to be the undisputed leading and dominant financial services institution in Africa, delivering superior value to all its stakeholders.
To achieve this vision, UBA will continue to invest in innovation, and deepen its customer relationships. The bank’s strategic priorities include enhancing operational efficiency, driving digital transformation, and leveraging data analytics to deliver personalized services.
“We are committed to embark on a journey focused on accelerating growth, providing value to our customers and shareholders and aligned with the broader vision of sustainable banking,” Mary Mulili, MD/CEO UBA Kenya.
