ABC Bank’s new clearing system provides instant account alerts

ABC Bank House

13th July 2017: ABC Bank has launched fully automated clearing system that will speed up cheque processing significantly for customers, hence hastening payments and improving business efficiency.

Sybrin is a flexible and more robust solution for high-speed documentation imaging and transaction processing and will enable the bank to provide its customers with instant account transaction updates, a departure from the past where customer accounts would be credited the following day after the transactions. It eliminates a bulk of manual processes associated with older clearing systems.

The migration to the new is part of the bank’s continuous upgrade plans to enhance efficiency in service delivery to customers.

“ABC Bank continues to invest in new systems and solutions like Sybrin that support the changing needs of the banking customer. We acknowledge that in the fast-paced world we live in today, speed and convenience are key customer expectations,” ABC Bank Head of Operations Elizabeth Kimani said.

Sybrin clearing system facilitates the processing of cheques, electronic funds transfers (EFTs), direct debits, standing orders, salary processing among others.

Ms. Kimani added: Cheques and other traditional settlement instruments remain important components in payments, especially among business customers; as such, we deem it important to make them as convenient as new-age systems of payment hence the investment in the upgrade.

Cost of Credit


To compare different bank loan costs for commercial banks in Kenya Click Here to visit the Total Cost of Credit website.

Data Protection Privacy


In line with the Data Protection Act, click here to read our data protection privacy notice.

Key Facts Document


The Key Facts Document outlines all the features, benefits and charges of our various products to help you decide what product or service best suits you. Click here to read more.

CRS: What You Need to Know


The Common Reporting Standard (CRS) is a global initiative aimed at combating tax evasion and ensuring tax system integrity across participating countries. As part of this standard, we at ABC Bank, along with all other financial institutions, are required to gather and report specific information about your tax residency status. This includes details about your accounts and financial activities. To help you navigate these requirements and understand how they may impact you, we have provided a comprehensive overview of CRS and its implications. To review the Frequently Asked Questions (FAQs) on CRS, please click here.


FATCA Statement


FATCA requires foreign financial institutions (FFIs) to report to the IRS information about financial accounts held by U.S. taxpayers, or by foreign entities in which U.S. taxpayers hold a substantial ownership interest. ABC Bank is FATCA compliant in all its operations. To find out more about FATCA and how it affects you, please contact any of our branches or offices. We may contact you to request further information or documentation in order to verify your tax status under FATCA. For more information on FATCA, click here.
Review our FAQs here.

www.abcthebank.com  | Tel:+254 (20) 4263 000 / +254 (0)719 015 000 or  | Call our Hotline No: +254 (0)701 700 700,  |  Email:talk2us@abcthebank.com
 ©2024 ABC Bank  |  ABC Bank is regulated by the Central Bank of Kenya
1
Hello. Welcome to ABC Bank! How may we help you?