Bank of Kigali Plc (BK) has launched its “Employee Banking Solution”, an ‘all-in-one’ facility designed to make banking more accessible and convenient for employees while strengthening partnerships with employers.
The solution was unveiled on August 27 during a Human Resource Engagement Forum at Serena Hotel in Kigali, which brought together more than 120 HR leaders from some of the country’s leading employers.
Désiré Rumanyika, Chief Digital and Retail Officer at Bank of Kigali, said the forum was intended to introduce the solution while gathering feedback from employers on employees’ financial needs.
“We focused mostly on HR leaders because we know HR is the bridge between us and their employees,” Rumanyika said.
He said the initiative is also part of BK’s broader effort to make financial services easier to understand and access, particularly as banking shifts towards digital platforms.
“We want really to demystify financial services to make sure that these services are available to any Rwandan who wants to access them,” he said.
One solution for employers and employees
The Employee Banking Solution brings together salary processing and payroll services, savings products, loans, investment opportunities, digital banking, Open API integrations and other financial services.
According to BK, the solution is built around four areas: employer convenience, employee financial wellbeing, financial independence and financial literacy.
Rumanyika said BK had developed several components over time but decided to bring them together under one offering.
“It has been a long process. We have been launching a few components, but today was to put all these components together so that we can give the entire suite of solutions on the side of the employer and on the side of employees as well,” he said.
He said the solution goes beyond transactional banking by helping employees save, invest and improve their financial stability.
“Employees need to get some sort of financial stability not only transacting, but also having saving products and investment products so that they can really guarantee their future,” he said.
Advancing digital banking
Digital banking was also a key focus of the engagement, with BK encouraging customers to use their mobile phones for routine banking instead of relying on physical branches.
Rumanyika said digital banking can save customers time and reduce the costs associated with accessing traditional banking services.
“It’s in their interest to be able to bank with their phone. It’s easy because it’s a click, you get what you want. It’s really economically viable,” he said.
“We think if all Rwandese adopt this financial service on their phone, it will make the service easy and cheaper for everyone,” he said.
BK invites employers to help shape banking solutions
Beyond launching the solution, BK wants to build a two-way relationship with employers and HR leaders, with their feedback informing future products and services.
Rumanyika urged HR leaders to share employees’ financial needs with the bank and help shape solutions around them.
“We want to really make sure that there’s transparency. We want to co-create. We call upon these HR chiefs to come to us to tell us what they want in terms of needs, financial needs, how they want us to serve them,” he said.
He said the relationship should involve continuous engagement rather than the bank simply presenting products to employers.
“We want this partnership to be a two-way partnership. They tell us what they want, their needs, and then we respond by putting in place new processes and new products so that the services that we give to them are really responding to their needs,” he said.
Rumanyika also said the bank had committed to improving customer service.
“We’re going to provide the best customer service today. It’s a commitment we’ve taken and we really walk by what we said today,” he said.
Rose Ngabire, Chief Operating Officer at Bank of Kigali, reaffirmed the bank’s commitment to strengthening its relationship with the HR community and improving the banking experience for employees.
She encouraged HR leaders to use the Employee Banking Solution and create awareness of the services among their employees.
