THE Tanzania Commercial Bank (TCB) has launched a digital platform for community savings groups, an innovative initiative that marks a significant step promoting financial inclusion, through bringing traditional savings practices into the digital age.

Speaking during the launching of the platform in Dar es Salaam yesterday, Adam Mihayo, Chief Executive Officer, TCB said that as the technology continues to evolve, the bank remains committed to meeting the changing needs of its customers, by investing in reliable and secured digital banking solutions.

“The launch of Kikoba comes at a time when consumers increasingly seek greater control and convenience in their banking transactions. TCB being the bank that listens and understands the needs of its customers has taken the lead in spearheading digital banking, hence launching its highly innovative digital saving product, KIKOBA for the financial and economic benefits of the bank’s customers and Tanzanians at large,” he said.

The CEO said ‘Kikoba’ is more than just a digital platform that represents an encompassing and more inclusive, transparent and secured approach towards saving and financial management.

He added: Today’s constantly technology has led consumers to become more connected and digital savvy. This has led to their desire for more control on when and how they want to make their transactions and access banking services hence the transformation has seen the banking sector increase investment in technologies that offer reliable and more secure digital banking solutions to customers.”

Sonia Choteka, Tabata Goodhope Vikoba secretary, underscored TCB’s essence of ensuring the accessibility of modern technology at the palm of their hands.

“The platform has eased our day-to-day activities. Initially we failed to reach consensus on how to execute our tasks based on the network varieties. With that scenario, the launched platform will now engage all community savings participants regardless of their networks,” said Choteka.

For the first time ever, one will be able to register or join a ‘Kikoba’ via all mobile providers including Tigo, Airtel, Halotel and Vodacom.

Vikoba is derived from the Swahili word ‘Vikoba’ for savings groups, and is now seamlessly accessible through mobile devices.

“The partnership with telecommunication providers in the country will ensure widespread access and convenience for customers across the country,” said Choteka.