Disruption: Why Kenyans don’t need to visit the bank anymore

For a long time, a trip to the bank was usually a hassle. Long waiting times and lines, inconvenient opening times and finding a close enough branch made it one of our least favorite chores.

However across every income bracket, an equal percentage of consumers have access to digital and mobile banking tools. In fact it is one of the most important factors influencing their choice of banks according to a cornerstone study.

The purpose of the bank branch is to facilitate interactions between customers and bank employees. However with today’s technology the interaction can happen without the two parties physically being in the same location.

People using digital banking is steadily increasing and banks are listening. Including Standard Chartered Bank.

With the Standard Chartered mobile banking app, they have made it so you may never have to visit a bank branch again. This is especially helpful right now as thousands of Kenyans are working from home and are encouraged to stay safe.

Through the app you can manage your bank account as well as easily transfer money through MPesa.

Additionally you can transfer money through RTGS to other accounts as well as transfer money through PesaLink.

The app also has a QR pay option which allows you to pay for goods and services, scanning the QR code at selected merchant stores and website.

You can also purchase various types of insurance including; home, motor, travel and farewell. You don’t even need to carry your debit card as you can withdraw from any Standard Chartered ATM.

It’s easy to open account and once you do, you may never have to set foot in a bank again!

Open your account now – https://www.sc.com/ke/open-account/

Pay your utility bills with SC Mobile Banking app
Pay your utility bills with SC Mobile Banking app

Opinion: All Kenyan businesses should to now process KRA payments online

We used to love queuing and doing things last minute. Not any more. New habits are with us!

Haven’t we learned a lot? At least I can speak for my circle of friends and I suspect the same for most Kenyans. Indeed, comfort is a killer.

Staying indoors has taught us to take advantage of what we’ve got in our hands. Got Internet? Then your business should process KRA payments online and waste no time. Read that again!

Why? Simply because you can. I highly suspect we won’t be visiting the tax centres anytime soon.

Actually, Standard Chartered Bank has made it easier for businesses so that we won’t have to ‘pet the peeves’. Standard Chartered Bank is directly integrated with KRA and this makes KRA submission real time. This, through the Straight2Bank online platform. It’s an online banking platform designed for all your business transactional needs.

All you have to do is set up KRA once and you wont have to memorize the account again.

You can pay your Excise, Service and Direct taxes online. Your account is automatically debited and you receive an acknowledgement immediately.

Besides that, you can stay safe and work from home with more features such as simple payroll processing, simple FOREX transactions, simple bulk payments, reports and alerts and it’s all secure.

Why don’t you try it for your business? You want to meet your legal obligations, don’t you?

To learn more, visit https://www.sc.com/ke/business-channels/straight2bank/

Process KRA Payments online
Process KRA Payments online

When your petty cash department has to work from home: Tips and tricks to stay safe

When most of us think of the petty-cash department, we tend to think of straight-faced persons seated behind a desk in an office, dealing with piles of paperwork and always counting money. A petty cash accountant working from home without face-to-face meetings or paper exchanges hasn’t seemed possible …until now. Times have quickly changed.

Because of this hiatus occasioned by the uncertain times that we’re going through, doing petty cash accounting by working remotely has been made possible by technology. A lot of businesses are still nervous about it and that’s natural because they might not know how to go about it. However, all that’s needed to be known is what tools can make this work paperless and away from the office.

Here are some hacks.

Face to face meetings
Most interactions with these accountants tend to be impromptu rather than scheduled. There’s no difference in a remote setting other than using phone calls or video conferencing tools. No need for a conference room! It’s just as easy to have impromptu meetings using Zapier as it would be in any office. You could also set up a Zoom meeting and share the link in your Slack channel and you can have that same sort of spur of the moment meetings, as long as all the participants are online at the same time.

Work
The accounting aspects of working remotely for petty cash accountants are not much different from working in an office. There are still weekly meetings, collaborations, month-end reports and payment approvals.

There are a lot of cloud-based apps but we’ve found an innovative way to manage petty cash payments provided by Standard Chartered Bank through their award-winning platform called Straight2Bank

Straight2Bank and Petty cash

The platform is an online banking platform designed for all your business transactional needs. At the moment, we are advised to stay away from physical cash (coins and notes) and naturally, we’re embracing alternative means to do banking.

To make the petty cash disbursements, all you have to do is list all the mobile numbers and amounts to be paid on an excel sheet template. Load this on Straight2ankB and click pay. For added security the payment goes through your organisation’s internal approvers.

Working remotely may seem like a foreign concept in the petty cash accounting world, but when you’re set up with the right applications, it’s totally achievable!

To learn more, visit https://www.sc.com/ke/business-channels/straight2bank/

Bulk Payments Standard Chartered Bank
Bulk Payments Standard Chartered Bank