KCB Group to Boost Digital Services with Riverbank Solutions
Bahati shalom
Mar 25, 2025
KCB Group CEO, Paul Russo, at a past event.
KCB Group has signed a deal to buy 75% of Riverbank Solutions Limited, a Kenyan fintech (financial technology) company. This move will help KCB improve its digital banking services and support small businesses.
What is Riverbank Solutions?
Riverbank Solutions is a tech company started in 2010 by Nick Mwendwa, the former president of the Football Kenya Federation (FKF). The company creates and manages digital payment systems for different sectors such as banking, manufacturing, retail, county governments, and even the military.
Why Did KCB Acquire Riverbank Solutions?
KCB wants to grow its digital services. Riverbank’s technology and experience will help the bank offer more modern and flexible payment solutions. For example, KCB will now use Riverbank’s Zed 360 platform, which offers tools to help small and medium businesses manage things like inventory, salaries, and financial reports.
The acquisition will also help KCB improve:
Agency banking
Social payments
Business solutions
Non-banking services like training, networking, and marketplace tools
KCB says this deal supports their goal of making banking faster, easier, and more digital. Their CEO, Paul Russo, said that this is part of their plan to deliver better services and create value for customers and investors.
What’s Next?
Once all approvals are done and including from the Central Bank of Kenya and the Competition Authority of Kenya, Riverbank Solutions will officially become a part of KCB Group.
This move follows KCB’s strong shift to digital platforms. In 2024, 99% of all KCB transactions happened outside the traditional banking halls. The bank believes the partnership with Riverbank will help them grow even more, especially in the fast-growing digital payment space.
KCB Group is partnering with this local tech company to make banking more digital and supportive for small businesses. This will bring new tools, better payment systems, and smarter services to customers across Kenya and the region.
