Absa Bank Kenya has increased the transaction limits on its Timiza wallet, granting customers greater flexibility and convenience in managing their financial affairs.
In a bid to enhance the financial capabilities of its customers, the maximum amount permitted for a single transaction on the Timiza platform has been elevated from Sh150,000 to Sh250,000.
Simultaneously, the daily transaction limit has been elevated from Sh300,000 to Sh500,000, reflecting a substantial increase in financial freedom for Absa Bank Kenya's valued clientele.
Steve Omamo, the Head of Digital Channels at Absa Bank Kenya, underscored the significance of these changes, stating that they align with recent modifications in mobile money transaction limits and the ever-changing needs of the consumer.
He emphasized Absa's commitment to ensuring that its customers can make the most of their interactions with the bank.
"As Absa, we aim to ensure that our customers can do more on our platforms as we strive to provide them with the best possible service and competitive products. Our key priority remains to become a truly customer-obsessed financial institution that places the customer at the centre of every decision, giving them a voice and a platform to shape Absa’s products and services with their evolving needs in mind," said Omamo.
He further elaborated on the rationale behind the increased limits, highlighting the bank's responsiveness to customer needs and the growing importance of transitioning into a digitally powered business.
These enhancements are designed to make banking on the go more efficient and convenient for customers, aligning with Absa's commitment to customer-centric financial services.
Absa Bank Kenya PLC is in the midst of implementing its new horizon business strategy, which is anchored in becoming a modern-day consumer financial services business.
Central to this strategy is benchmarking the consumer business to meet market offerings and the ever-evolving demands of consumers. This approach ensures that the bank remains closely connected to the present and future needs of its clientele.
A pivotal element of this strategy is the establishment of best-in-class customer experiences and digital propositions, while simultaneously modernizing Absa's systems through the adoption of cutting-edge, cloud-based technologies.
This announcement follows closely on the heels of Absa Bank's introduction of an Automated Teller Machine (ATM) withdrawal option on Timiza.
This feature enables subscribers to withdraw funds from any Absa Bank ATM located across the country, thereby further expanding the accessibility and convenience of their services.
In a dynamic landscape where financial institutions are driven to adapt and evolve to meet the changing demands of the modern consumer, Absa Bank Kenya PLC's decision to raise its transaction limits on the Timiza platform is a testament to its unwavering commitment to serving the best interests of its customers and ensuring their financial needs are met.
The increase in transaction limits is set to empower customers, offering them greater financial freedom and more efficient banking solutions, while aligning the bank with its goal of becoming a consumer-focused financial services business in tune with the ever-evolving needs of its clientele.