Ratio Magazine :: The Inside Track to East Africa’s Economies - Kenya: Press Releases: KCB Advantage Sign Card Partnership

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Kenya: Press Releases: KCB Advantage Sign Card Partnership

Friday, 13 May 2011

Nairobi, 12 May 2011 --- KCB Bank has announced the launch of the KCB Advantage/Go-Places Privilege Card that is a value-added proposition targeting the local high net-worth banking customers.

The move that is part of the KCB Advantage Banking accounts mobilisation campaign dubbed “Take Advantage” is now expected to heighten competition in the local exclusive banking segment.

With the launch, KCB now takes the war to the competition seeking to recruit 6,000 new customers on to KCB Advantage which is the bank’s top tier service offering.

Speaking during a customer cocktail held to launch the card, KCB Chief Executive Dr. Martin Oduor-Otieno said the partnership was exclusive to KCB and would be a key driver of value for Advantage customers.

“This co-branded card will be made available to all KCB Advantage Account holders. The access fee of KES2,000 has been waivered. All our existing and new customers will receive their discount cards for free and start enjoying the advantage immediately”, said Oduor-Otieno.

The initiative is a partnership between the KCB Group and the Leisure and Travel Guides E.A. Limited, operators of the Go-Places discount cards. Holders of the co-branded card will among others receive preferential services and discounts ranging from 5% to 40%.

These will be from selected and exclusive outlets that are within the network of over 500 Go-Places partners within Kenya such as airlines, hotels, lodges, restaurants, clothing stores, furniture outlets, gift shops, drycleaners, pharmacies etc.

Mansoor Jiwani, the Chief Executive of Leisure and Travel E.A. Limited, said the new card was a plus to the Go-Places of partners and who now have access to the pool of over 2,000 existing KCB Advantage customers.

“This partnership is a one of a kind proposition as KCB will enjoy exclusive agreement for two years with Go-Places that is the most established privilege card of its kind in the market. Today, the Go Places privilege card is accepted at over 500 exclusive partner establishments within Kenya and East Africa, being the most established discount and loyalty card of its kind in the region”, he said.

In addition, customers will also enjoy seasonal special offers such as Valentines, Easter, Christmas holidays etc, alongside free information and booking facilities for restaurants, travel and conferencing.

The KCB “Take Advantage” Campaign is aimed to offer relevant lifestyle opportunities to allow customers focus their time and energy on other priorities giving them convenient banking and great value.

Launched in 2007, KCB Advantage is a niche product targeting middle to upper class individuals who prefer executive banking services. KCB runs seven dedicated advantage centres in Nairobi, Mombasa and Kisumu in addition to dedicated counters in selected branches. The bank now plans to launch another 20 Advantage Banking outlets in 2011.

Among other benefits Advantage customers will benefit from include access to a current account at no monthly charges and access to a Simba Savings account with tiered interest from 2% based on ones savings.

Customers will also receive access to loans, overdraft of minimum KES50,000, discounts on negotiation fees and interest rates on S&L Mortgages and a waiver of interest on KCB Credit, in addition to extended banking hours from 8am to 5pm on weekdays at dedicated Advantage centres all for a monthly payment of KES1,200.

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