Competency at Acquisition


As in all bank accounts in Kenya, an M-Shwari account is subject to regulation requiring banks to verify the identity of the customer according to Know Your Customer (KYC) principles. However, in the case of M-Shwari, CBA bank can do this digitally using the existing KYC details from the customer registration of the phone number (SIM) and M-PESA account, which requires physical presentation of an ID. So, for the majority of customers, opening this bank account (for many, the first in their lives) takes less than a minute.

 
Quick, simple registration process