Chase Bank Kenya, an innovative and fast-growing bank with an ambitious strategy across Africa, has successfully migrated its full card portfolio to the OpenWay WAY4 payment software platform from Electra Card System.
The new card management system enables Chase Bank Kenya to grow its cards business by
integrating omni-channel capabilities and enhancing fraud management systems.
The solution is developed by OpenWay and WAY4 will support the issuance of prepaid, debit and credit cards — under the MasterCard and Visa brands.
The new card management solution will enable Chase Bank Kenya to grow its cards business, gives the bank full control over its new product development process, decreases time-to-market, integrates omni-channel capabilities to enrich the customer experience and enhances fraud management.
“Chase Bank Kenya chose the WAY4 platform because of its security, flexibility, cost-effectiveness, scalability, and high availability. OpenWay also has a long term experience in migrating data from the Electra Card System platform and is well known for its commitment to clients,” Chase Group Director of Information Technology and Operations Raj Singh said.
According to the Central Bank of Kenya and the Communications Authority of Kenya, 76% of the country’s population is registered for mobile money (27.7m). $24 billion worth of funds was transacted through mobile money in 2014 and $101 billion since the introduction of mobile money in Kenya. The majority of adult Kenyans use mobile money for services ranging from P2P-transfers and bill payments, to donations, savings and loans.
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