FDH Bank, TNM for Vast Digital Banking

FDH Bank and mobile service operator, TNM, have partnered and launched ‘FDH-TNM Device Loan’ in an effort to make more people in the country use digital bank transactions.

The Bank’s Head of Personal and Business Banking, Kawawa Nsapato, said on Monday during the launch that it is high time people adapted to the growing world of electronic banking.

“We see value in our customers using smart phones. As a digital bank, our primary channel is a mobile phone. At the moment, we have both USSD and mobile app but most of our customers use USSD probably due to cost to access phones that can enable them to use the mobile app. This is opportunity for our customers to use the app which is fast and has more features than the USSD,” he said.

TNM Chief Marketing Officer, Vishwajeet Deshmukh, said the “adoption level of smart phones is increasing now but not at a rate which is supposed to be.

“The advantage of 4G is far more than anything else because the speed goes almost ten times more than 3G. That is why the partnership comes into picture because it will make our customers to get phones without paying huge sums of money in the beginning.

In the partnership, FDH customers will be getting 4G smart phones on loan from TNM ranging from K50 thousand to K900 thousand.

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