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CUSTOMER EXPERIENCE TRAINING MODULE LAUNCHED FOR FAULU STAFF
Faulu launched a Customer Experience Curriculum. The guide dubbed Elewa Mteja Wezesha Mteja curriculum has six modules.
The Management led by Faulu Board endorsed module and supported the training of staff across the country to enhance Customer Experience and Relationship Management. The ripple effect would be: customer retention, growth of Faulu customer base and the overall growth of the business.
Summary of the Customer Experience Curriculum
Module 1 - Starting Right (Defining Customer Experience)
Module 2 – The Journey (Customer Journey Mapping)
Module 3 – Employee Experience (Faulu DNA)
Module 4 – In my SHOES (Voice of the Customer)
Module 5 – Above and Beyond (Exceeding Expectations)
Module 6 – Finishing Right (Measuring Success in Customer Experience)
“This Curriculum is vital because it underscores one of our core values: to Champion the Customer,” said Faulu MD – Apollo Njoroge.
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Faulu Top Leadership endorse the launch of the Customer Experience Curriculum |
Faulu staff show showing off their branded merchandise |
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A Kodak moment with the selfie board |
Top smiles from our staff during the launch |
FAULU LAUNCHES THE NEW RENSOFT BANCASSURANCE SYSTEM
Faulu Bank launched a system that has fully automated all bancassurance processes at its 61 outlets countrywide. The Faulu Bancassurance System, which was deployed in January and is now being implemented will improve operational efficiencies, deliver convenience and speed to customers who buy insurance products and services.
The system will automatically issue quick quotations, facilitate cover processing and administer all insurance products underwritten by UAP Old Mutual Group.
“Bancassurance is an important part of our service offering because it helps our customers access a wide range of insurance products, helping them protect the wealth that they work so hard to create,” said Faulu Bank Managing Director, Apollo Njoroge during the launch of the system. This innovation is expected to increase the microfinance institution’s bancassurance revenue this year.
The new system is also expected to improve decision-making at the bank, due to the timeliness and accuracy of the data it produces and the fact that it will be integrated with the Bank’s core banking system.
“With this new system we will collect data with greater scientific precision. This will enable us to improve the customer experience by delivering value to our customers concluded Mr. George Maina, Faulu Board Director.
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Faulu Board Director – George Maina endorsed the launch of the Bancassurance system in January 2020 |
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A SIGHT TO BEHOLD: FAULU OFFICIATES HOMA BAY BRANCH
Faulu officially opened their branch in Homa Bay on Wednesday 19th February 2020.
The launch was officiated by the Governor Homa Bay County - Hon. Cyprian Awiti, the Deputy Governor - Hon. Hamilton Orata, Faulu Board Director – Mr. Joshua Muiru and Faulu MD – Mr. Apollo Njoroge. The other guests who graced this historical event were County Officials led by the CEC Finance Mr. Nicholas Koriko and County Officials together with Faulu Leadership team led by a representative from the Execurive Committee.
The Governor Hon. Cyprian Awiti acknowledged the bank as a business enabler and lauded Faulu for choosing to open a fully-fledged bank in Homa Bay to offer relevant financial services to the residents of Homa Bay County.
The Deputy Governor, Hon. Hamilton Orata stressed on the need for individuals to develop and achieve their dreams but acknowledged the important role of financing in ensuring that dreams are achieved.
Faulu Board Director, Mr. Joshua Muiru gave an overview of the bank’s history and heritage of over 25 years. He explained that the Banks objective in Homa Bay was to bring Financial Education closer and provide Banking, Investment, Savings and Insurance solutions to the people of Homa Bay County.
Faulu MD – Apollo Njoroge gave an overview of the bank’s achievements and product basket for the public to get acquainted with the banks offering. Mr. Apollo spoke of the partnerships that the bank has inked with Car and General and Bajaj to enable customers acquire below market rate priced motorcycles which can be paid in flexible installments of as low as Kshs.300 bob every day.
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The Homabay Governor Hon. Cyprian Awiti signing the Visitors book
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Homa bay branch officially opened |
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The conclusion of a successful meeting at the Governors office |
A Well attended Customer engagement forum during the launch of Faulu Homa Bay branch |
FAULU SCOOPS THE FIRE AWARD THE SIXTH TIME
Faulu Microfinance Bank was awarded the Financial Reporting (FiRe) accolade during an award Ceremony held at Carnivore Restaurant on 8th November 2019.
Faulu was acknowledged as the best Microfinance bank in Financial Reporting for the sixth time.
Financial Reporting (FiRe) Award is an annual award that recognizes and awards the best reporting entities in East Africa. The Award is aimed at promoting integrated reporting through enhancing accountability, transparency and integrity in compliance with appropriate financial reporting framework and other disclosures on governance, social and environmental reporting by private, public and other entities domiciled in East Africa.
Faulu Microfinance bank has continued to be fastest growing microfinance institution in asset base and profitability. According to 2018 audited financial statements, the bank made a profit of Ksh.287Mn, emerging as the most profitable microfinance institution in Kenya.
FAULU DECLARED THE BEST MICROFINANCE BANK
Faulu was declared the overall Best Microfinance Bank in Kenya during the Think Business awards held at Movenpick Hotel and Residences on 17th May 2019. Faulu also bagged three other revered awards namely; Lifetime Achievement award in Banking, 2nd best Microfinance bank in Agriculture and Livestock Financing as well as the 3rd best bank in Product Marketing. Our very own longest serving Head of Retail banking - Rose Kimani proudly walked away with the Lifetime Achievement award in Banking.
The Banking Awards have been held annually since 2006. Their objective is to encourage prudence and stability in the banking sector by recognizing, awarding and celebrating exemplary performers in the sector. The awards are won on a combination of merits, including financial soundness, opinion polls, market re-search and professional assessments.
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 Head of Retail Banking, Rose Kimani is rewarded the Lifetime Achievement award in Banking. |
FAULU OFFICIATES COUNTRY WIDE AGENCY BANKING LAUNCH IN MURANG’A
Faulu officially launched Agency banking platform countrywide in Murang’a on 17th April 2019.
The launch was officiated by the Deputy Governor Murang’a - Hon. James Kamau Maina Faulu Board Director – Joshua Muiru, Faulu MD – Apollo Njoroge and the ExCo team comprising of Head of Business Growth – David Mukaru, Head of Retail banking – Rose Kimani, Head of Operations and Customer Service – Michael Kalii, Head of Audit – Paul Kahoro and Ag Head of Marketing – Fridah Mutua.
The Deputy Governor Hon. James Kamau Maina encouraged Faulu clients and the people of Murang’a to bank with Faulu and get affordable financing for their businesses. He also thanked the bank for believing in the people of Murang’a by providing the relevant financials solutions as well as ensuring the quick roll out of agencies to ensure everyone can bank conveniently.
Faulu Board representative Joshua Muiru urged the leadership team to cement strong business relationships with the County Governments of the region in order to continue transforming the lives of Kenyans.
Faulu MD – Apollo Njoroge congratulated the Murang’a Branch team for their aggressive recruitment of Agents in the region and urged them to continue with their hard work geared towards building a balanced book. He spoke of the many agricultural opportunities in Murang’a which if leveraged through relevant partnerships will benefit the community by ensuring convenient access to the many financial solutions that Faulu offers.
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The Deputy Governor Murang’a - Hon. James Kamau Maina signs the visitors book in the presence of Faulu Leadership team |
Faulu MD and Murang’a Deputy Governor hold their first transaction at the Agent |
FAULU MICROFINANCE NET EARNINGS HIT SH190 MILLION
Micro-lender Faulu’s net profit for 2018 increased by more than three-quarters, partly helped by halving of provisions against bad loans, the country’s second largest microfinancier by market share announced on Wednesday.
The lender, controlled by South Africa’s Old Mutual Group, reported an 82.74 percent jump in profit after tax to Sh190.44 million.
The lender’s gross loans to customers increased to Sh19.18 billion in 2018 from Sh17.28 billion, helping grow earnings from fees and commissions on the portfolio by 40.28 percent to Sh621.19 million.
Interest on loans were, however, flat, rising by a razor-thin 0.15 percent to Sh3.57 billion.
Its earnings were, nonetheless, boosted by a 50.71 percent fall on loan impairments to Sh114.55 million, while staff costs also dropped by Sh74 million, or 7.1 percent, to Sh968.58 million compared with 2017.
The reduction in staff and other administrative costs helped the deposit-taking micro-financier contain total operating expenses which rose by a marginal 3.11 percent to Sh4.04 billion.
Faulu mobilised Sh2.1 billion more deposits from customers in the 12-month period to Sh18.5 billion compared with Sh16.41 billion2017.
“Our future focus as a customer-led retail and traders’ bank is to continue evolving digitally by offering our customers relevant financial solutions,” the micro-financier said.
There are 13 microfinance banks in Kenya. Faulu is among three tier-one microlenders including Echo Network Africa (formerly Kenya Women) and Rafiki.
FAULU OFFICIATES FAULU WOMENS NETWORK
Faulu ladies and gentlemen in support of the Womens forum launched their Womens Network during an event filled with pomp and colour.
The launch took place at the glamorous Emory Hotel in Nairobi in the evening from 5.00pm to 9.00pm.
All the ladies hailing from Nairobi Region graced the event looking dashing in red, blue and white. They also carried a Maasai shuka to keep warm during the chilly weather in the evening.
The event was graced by Faulu Board Representatives Dr. Catherine Kimura and Ms Sophia Mukoba. Faulu OWN Patron – Grace Thiong’o together with part of Faulu Executive Committee team (ExCo) Maureen Mbori – Head of Treasury, Sheila Maina – Head of Legal, Ag. Head Marketing Fridah Mutua were working hard to ensure the women felt appreciated and involved by spearheading the great event. There were a few gentlemen to support the ladies attending the event led by Peter Iha – Head of Human Capital and Paul Kahoro – Head of Audit.
The ladies had a rare opportunity of listening to personal stories from the women in leadership which inspired them to focus on their goals and embrace the Womens day theme of #balanceforbetter.
The women left uplifted and ready to fully take part in the annual calendar of events as well as influence other women in different regions of the bank to re –energize and re –invent themselves.
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The ladies and a few gentlemen looking dashing at the event |
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Ladies happily dice the yummy cake |
From Left – Faulu Board Directors Ms. Sophia Mukoba and Dr. Hon. Catherine Kimura speak to the ladies |
FAULU EMPOWERS YOUTH IN GITHURAI
Faulu handed over 30 motorbikes to young business men from Githurai on the 28th of March 2019. The business men received financing to purchase their boda bodas in order to start their own businesses.
This day was iced by the launch of a lit roadshow which was flagged off by Faulu Head of Operations and Customer Service - Mr. Michael Kalii to comb the streets of Githurai as Faulu brought its services closer to the residents of the town.
The Ag. Head of Marketing - Fridah Mutua, Branch Manager Githurai - Wambui Kamau, Marketing team representatives, branch staff and the roadshow crew were agile and ready to woo clients during the roadshow.
The busy streets of Githurai cleared automatically to pave way for the Faulu entourage as the boda boda team followed leaving the town at a standstill as the people listened to the banks offering.
Call 0711 074 000 to get to know which loan you can get to start, endeleza or imarisha your business. You can also visit Faulu branches countrywide to learn about Faulu’s product basket.
