This archive report was first published on 26 November 2019.
Published on November 26, 2019, Kenya Police Sacco has embarked on a digital transformation journey to attract the youth who are increasingly relying on digital services.
According to National Chairman David Mategwa, automation of services is a key strategy to intensify mobilization of savings, particularly among the youth who are heavy digital service consumers.
As banks such as Equity Bank, Cooperative Bank, and KCB have successfully moved about 90% of transactions away from banking halls, Kenya Police Sacco is following suit by embracing digital banking.
This includes mobile banking, contact centres, ATMs, internet banking, and banking agents, which are designed to offer convenience to customers and reduce the cost of operation.
With digital banking, Saccos can introduce virtual branches, providing a platform to nurture a saving culture among the youth who have embraced digital technology.
David Mategwa welcomed the cabinet's approval of the Sacco National Policy, which he believes will help solve issues in the cooperative movement, including mismanagement.
