Faulu Microfinance Bank is set to enhance the banking experience for its customers through the rollout of an upgraded core banking platform, marking a key milestone in the Bank’s digital transformation journey and efforts to deliver more responsive banking services.
The new core system will strengthen service delivery and provide the bank with a more agile foundation to support future digital innovations that better meet the emerging needs of customers and businesses.
The enhancement builds on several years of sustained investment in Faulu’s digital capabilities and operational excellence.
Faulu Microfinance Bank CEO Julius Ouma said the transition reflects the bank’s continued investment in building a future-ready institution centered on customer needs.
“Our customers expect banking to be simple, reliable and responsive. This upgrade strengthens our ability to serve them better today while giving us greater capacity to innovate for the future. It is an important step in our journey to deliver a banking experience that keeps pace with the evolving customers and business needs,” said Ouma.
The upgrade forms part of Faulu Bank’s broader transformation agenda, which continues to receive backing from its shareholder, Old Mutual. Most recently, Old Mutual made an additional Sh1.2 billion capital injection into the bank to support its growth and transformation strategy.
The investment strengthens Faulu Bank’s capacity to continue investing in technology, people and partnerships, while expanding its support for MSMEs and advancing its contribution to financial inclusion in Kenya.
Old Mutual Group CEO Arthur Oginga said the investment reflects the Group’s confidence in Faulu Bank’s strategic direction and long-term growth ambitions.
“Our additional investment in Faulu Bank reflects our confidence in the bank’s strategic direction and long-term growth. The Sh1.2 billion capital injection strengthens Faulu’s ability to accelerate its transformation agenda, expand support to MSMEs and continue investing in digital capabilities that enhance customer experience and support sustainable growth.”
The upgraded core banking platform will provide Faulu Bank with a stronger foundation to innovate, scale its services and respond more effectively to changing customer needs.
Through continued investment in technology and service delivery, the bank is positioning itself to strengthen its role as a preferred banking partner for MSMEs while making banking more accessible, reliable and relevant to the communities it serves.
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