#10
SBM BANK
Setting the Pace Through Customer-Led Digital Innovation
It is often said that collaboration is the new innovation in today’s fast paced world where the consumer is more discerning and demanding. Technology and information systems have leapfrogged, which means that banks must look at ways to respond to customer needs that are not only relevant, but transformative.
For SBM Bank Kenya, this evolution has been intentional. The bank’s journey from stabilization to profitability has been underpinned by a clear strategic focus: placing the customer at the center of every decision, and using innovation as a tool to deliver meaningful, everyday value.
Customer Insight
SBM’s recent financial performance reflects more than a successful turnaround. It signals the effectiveness of a customer-first strategy. The bank recorded a net profit of Ksh 444.2 million for the year ended December 2025, a significant shift from the previous year’s performance.
This return to profitability was driven not just by operational discipline, but by deliberate investments in areas that matter most to customers such as reliable systems, seamless transactions, and products that respond to real financial needs.
Busara Banking App: Pioneering the Future
At the heart of SBM’s customer-centric innovation is the Busara Banking App, Kenya’s first banking app for children. This is a bold and forward-looking solution that is redefining how financial services engage the next generation.
In a region where digital adoption is accelerating and financial literacy remains a critical need, SBM has positioned itself as a pioneer in digital banking for children. The app is designed to introduce children and young users to the fundamentals of money management in a structured, secure environment, with parental oversight ensuring guidance and accountability. Through Busara banking app, young users can learn to save, spend, and make informed financial decisions about money and in the process gain skills that will shape their long-term financial behaviour.
This innovation demonstrates SBM’s ability to think beyond immediate customer segments and invest in future ones. By embedding financial literacy into a digital platform, the bank is not only empowering families today but also cultivating financially confident customers for tomorrow.
Seamless Payments Experience
Beyond Busara, SBM’s digital strength is anchored in the Mfukoni app; a robust and intuitive platform that is redefining how individuals and businesses transact. Designed with the modern customer in mind, Mfukoni delivers a seamless, reliable, and efficient banking experience that supports everyday financial needs with precision.
On of the unique features of Mfukoni is the ability to get sharp forex rates in-app that allow business owners or individuals to make payments in any currency. From instant payments and transfers to streamlined account management, the platform enables customers to transact with speed and confidence, whether for personal use or business operations. Its stability and functionality have significantly enhanced the ease with which customers engage with their finances, eliminating friction and reinforcing trust in digital banking channels.
What sets Mfukoni apart is its simplicity and security. The app has been recognized and awarded for its user-friendly design, reflecting SBM’s commitment to creating solutions that are not only technologically advanced, but also accessible and easy to navigate. In a market where complexity often undermines adoption, this focus on intuitive design has been a key driver of customer uptake and satisfaction.
For businesses, particularly SMEs, Mfukoni provides a dependable platform to manage payments, collections, and day-to-day transactions, positioning SBM as a partner in growth rather than just a service provider. As digital transactions continue to dominate the financial landscape, Mfukoni is playing a central role in positioning SBM as a payments bank of choice. It is a clear demonstration of how the bank is leveraging technology to deliver consistent, high-quality customer experiences while strengthening its competitive edge in the market.
Enhancing Everyday Value
SBM’s Mastercard solutions further reinforce its commitment to delivering everyday value and uncompromising security for its customers. The cards are managed by the customer through the Mfukoni app, giving them control to activate, manage spending patterns, set limits for card spend options, and many other functions that would require a call to the contact center.
Cardholders enjoy exclusive discounts and offers with leading partners in travel like Jambojet and Journey Quest Safaris, hospitality such as Sarova and Serena Groups of hotels and numerous retail merchants, turning routine payments into opportunities for savings and enhanced experiences. In addition, the cards are supported with a loyalty program that collects reward points for the customer, redeemable as cashback or at their choice outlets available on the rewards platform. At the same time, the SBM Cards are underpinned by Mastercard’s advanced security architecture, which includes chip and pin capability, velocity checks, and transaction notifications. This layered protection ensures that whether a customer is tapping at a store, fuel station or completing an online checkout halfway across the world, their transactions remain secure.
This powerful combination of value and protection positions SBM’s Mastercard portfolio not just as a payment tool, but as a trusted financial companion aligned to the needs of the modern, globally connected customer.
Product Innovation
SBM’s commitment to customer-centricity is equally evident in its product offerings. The Platinum Saver Account and Pebble Account have been designed to provide both accessibility and strong returns, with interest rates of up to 8.5% per annum (Effective February 2026) on balances above Ksh.100,000. These accounts also have USD, GBP, and Euro currencies, further creating an opportunity for customers to grow their wealth by investing in foreign currencies.
These products respond directly to a growing demand among customers to maximize their savings in a high-cost environment. By offering competitive rates alongside flexible features, SBM is ensuring that its value proposition remains both relevant and compelling.
The Pebble Account, in particular, complements the Busara app by supporting customers across different life stages from early financial learning to disciplined saving. This integrated approach reflects a deep understanding of the customer lifecycle and reinforces the bank’s long-term engagement strategy.
A Leadership Position
As SBM Bank Kenya pivots in its pursuit of providing a Smarter Tomorrow for its customers, its focus remains clear: scaling its digital ecosystem, deepening customer relationships, and continuing to innovate with purpose.
The Busara Banking App and Mfukoni platform stand as defining examples of this vision in action, with solutions that not only address current needs but anticipate future ones. Together, they reflect a bank that is not just responding to change but actively shaping the future of banking. And in doing so, it is proving that the future of banking belongs to those who place the customer at the center of their strategy.
