SBM Bank and Mastercard Enter into a 10-Year Strategic Agreement to Advance Innovation in Financial Technology
SBM Bank Kenya and Mastercard have today reaffirmed their commitment to explore ways to jointly accelerate Kenya’s digital transformation and deepen financial inclusion across the country.
The renewed engagement, highlighted during an official visit by Mark Elliott, President, Africa at Mastercard to Kenya, marks the beginning of a strengthened collaboration aimed at empowering more Kenyans through innovative technology and collaboration.
Bhartesh Shah, CEO of SBM Bank Kenya (L) and Mark Elliott, Division President, Africa at Mastercard (R) during a recent meeting in Nairobi. Mastercard and SBM Bank Kenya have entered into a 10-year strategic agreement that will advance innovation in financial technology in Kenya.
SBM Bank and Mastercard will collaborate to co-create innovative financial solutions aimed at promoting digital adoption, empowering consumers and businesses, and bridging gaps in financial inclusion. The collaboration is expected to accelerate the availability of smart, reliable, and digitally-enabled banking products, keeping in pace with Kenya’s ambition to become a regional leader in fintech advancement.
Caption: (L – R) Andras Kovacs, SVP, Services Business Development, EEMEA at Mastercard; Aijaz Shalla, COO of SBM Bank10-year Bhartesh Shah, CEO of SBM Bank Kenya; Mark Elliott, Division President, Africa at Mastercard; Beth Muthui, Director, Consumer Banking at SBM Bank Kenya; and Shehryar Ali, SVP and Country Manager for East Africa and Indian Ocean Islands at Mastercard, during the signing of a 10-year strategic collaboration agreement in Nairobi, Kenya
Speaking during the high level meeting in Nairobi, SBM Bank Kenya Chief Executive Bhartesh Shah said, “At SBM Bank, our mission is to drive inclusive economic growth and make banking accessible and meaningful for every Kenyan. Partnering with Mastercard aligns perfectly with this vision, as together we can harness cutting-edge digital solutions and provide our customers - both individuals and businesses - with secure, relevant, and innovative financial tools.
Mark Elliott, Mastercard President, Africa, echoed these sentiments, noting, "Kenya stands out as a beacon of digital transformation in Africa, and we are proud to work alongside forward-thinking partners like SBM Bank. We are dedicated to accelerating digital inclusion, supporting local entrepreneurs, and giving more people the opportunity to participate in the digital economy. Our engagement underscores Mastercard’s ongoing investment in Africa’s future and our confidence in the potential of Kenya’s vibrant market.”
Caption: Bhartesh Shah, CEO of SBM Bank Kenya (left), and Mark Elliott, Division President, Africa at Mastercard (right), pictured in discussion during their meeting in Nairobi, Kenya.
This partnership is set to pave the way for breakthrough innovations, making transactions seamless and opening access for underserved communities.
ENDS/….
Download the Mfukoni App today
