Faulu Microfinance Bank, a cornerstone of Kenyan financial services for over 30 years, is embarking on a bold transformation journey.

Recognising the ever-growing demand for digital solutions, Faulu is making a strategic shift to expand its digital banking offerings and optimise its business model for long-term success.

This exciting move is driven by a Ksh 900 million investment from their parent company, Old Mutual Limited, solidifying their commitment to Faulu’s vision and growth.

Building a Digital Future, Accessible to All

Faulu understands that Kenyans are rapidly embracing digital tools to manage their finances. CEO Julius Ouma emphasises this commitment by highlighting the significant investments made in the past 18 months to enhance the bank’s digital capabilities.

These efforts have resulted in numerous digital services being made available online, increasing accessibility and convenience for Faulu’s vast customer base.

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Beyond Digital: A Transformation for Growth

The transformation extends beyond the digital field. Faulu is actively reviewing its distribution channels to ensure they align seamlessly with the new business model.

Their established network of over 70 active agents will remain a crucial component, providing a familiar and trusted touchpoint for customers. Additionally, Faulu plans to expand its support for Micro, Small, and Medium Enterprises (MSMEs), recognising their vital role in Kenya’s economic engine.

Old Mutual: A Vote of Confidence in Faulu’s Vision

Arthur Oginga, CEO of Old Mutual Holdings, expressed unwavering confidence in Faulu’s refocused strategy. He believes it has the potential to deliver sustainable value and significantly enhance the service offerings available to Faulu’s customer network.

This substantial investment underscores Old Mutual’s commitment to Faulu’s success and its vision of empowering Kenyans to realise their financial dreams.

Faulu: Your Partner in Financial Empowerment

Faulu offers a comprehensive suite of financial products and services, catering to a diverse range of customers. Individuals, communities, retail clients, MSMEs, and even institutions can benefit from Faulu’s expertise.

Their offerings include transactional banking, savings accounts, loans, and insurance, providing a one-stop shop for all your financial needs.

Products Tailored for Your Journey

Faulu understands that financial needs are unique. That’s why they offer a variety of accounts designed to meet your specific goals:

Salary Account: Enjoy 24/7 access to your salary, competitive interest rates, and value-added services like salary advances and personal loans.
Hazina Junior Account: Introduce your children to the concept of saving with fun and rewarding features. Competitive interest rates, free banker’s checks for school fees, and a simple account opening process make this a great option.
Hazina Plus Account: Grow your savings effortlessly with a low-maintenance account offering competitive interest and free withdrawals.
Business Accounts: Streamline your business finances with Faulu’s suite of business accounts. Choose from investment accounts, distributor accounts, Chama accounts (ideal for saving groups), and industry-specific options like Boda Boda accounts.
Faulu Digital Account: Go paperless and bank on the go with a convenient online account for all your banking needs.

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Embrace the Future with Faulu

Faulu Microfinance Bank is on a transformative journey, embracing digital innovation and optimising its operations to serve its customers better.

With a renewed focus on digital accessibility, a supportive parent company, and a commitment to financial empowerment for all Kenyans, Faulu is positioned to be a leader in Kenya’s evolving financial landscape.