mobile banking - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Banking fraud losses hit Sh1.59bn as threats rise

Sacco ReviewOctober 28, 202606 mins

Kenya’s banking sector is facing mounting pressure as reported fraud losses rise. Mobile and online banking are emerging as key channels exploited by criminals. Regional statistics reveal the scale of financial fraud across East Africa. Kenya’s banking sector lost approximately Ksh1.59 billion to reported fraud in 2024, as increasingly sophisticated cyber threats put pressure on…

Tower Sacco launches mobile app for iOS users

Sacco ReviewAugust 13, 202602 mins

Tower Sacco has launched Tower SACCO App for iOS users, which is now available for download on the App Store, giving members convenient access to their accounts wherever they are. The Tower App allows users to check their FOSA balance for free, with the figure displayed instantly at the top of the app. Members can…

More Saccos dropping banking agencies, opt for mobile banking

Sacco ReviewNovember 14, 2023November 14, 202304 mins

Technological advancement is fast-shaping operations and performance in the Sacco and wider financial and banking sector, lessening inconveniences and the high cost of opening and running physical branches. A spot check by Sacco Review has established that more Saccos prefer mobile banking to agency banking due to convenience for members and more profit to the…