Co-operative Bank of Kenya Case Study

Co-operative Bank of Kenya, a leading commercial bank in Kenya, was operating on a software suite that wasn’t able to deliver a comprehensive solution that the bank required. The bank needed to integrate legacy systems with their workflow solution. For example, the bank needed to simplify the account management process without losing the information from its existing investments. A workflow solution that could extend the value of its current software was preferred, especially one that could take information from prior systems and incorporate the data into processes that can then connect to point solutions, cloud solutions, and more. Co-operative Bank also wanted to improve the security and efficiency of its identification verification processes for uploading documentation. The bank did not have proper technology to support mass digital identification efforts and had to resort to manual processes.

Co-operative Bank of Kenya is a commercial bank in Kenya, a country with the largest economy in the East African community. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator. The bank has introduced the agency banking model and has a deep customer base in Kenya, recording over 7.5 million accounts as of December 2018. In 2010, the bank was awarded “Best Bank of Kenya” by the London Financial Times due to their excellent growth. The Co-operative Bank of Kenya Limited is incorporated in Kenya under the Company Act, licensed to do business under the Banking Act. The Bank was initially registered under the Co-operative Societies Act in 1965 until June 27th, 2008, when the Bank’s Special General Meeting resolved to incorporate under the Companies Act with a view to complying with the requirements for listing on the Nairobi Securities Exchange (NSE). The Bank went public and was listed on December 22nd 2008.