@DailyNation

Chase bank system outage enters fourth day

2 months ago, 12 July 09:43

By: Bonface Otieno

Key banking services such as debit card transactions and mobile money transfer services are yet to resume at Chase Bank following an ICT system outage at the troubled lender.

The service interruption, which started on Sunday evening following the transitioning of its banking platform to SBM Holdings' new platform, has persisted for the fourth day in a row leaving hundreds of customers stranded.

The bank’s over-the-counter services such as cash deposits and withdrawals, cheque deposits, issuance of check books and electronic transfer services have however been operational despite the technical hitch.

SBM Bank Kenya acting chief executive, Jotham Mutoka, on Tuesday admitted the downtime had affected some of the bank’s services, but declined to give an indication as to when customers will start getting steady services.

“We are experiencing system downtime --but I may not be able to engage you further on the matter because I’m not the right person to comment,” said Mr Mutoka.

Chase Bank collapsed in 2016 with deposits of more than Sh100 billion, part of which was returned to small depositors while it was under the care of central bank.

Mauritius-based lender SBM formally took over the troubled lender in April this year upon conclusion of a sale deal.

The bank, whose shares trade on Stock Exchange of Mauritius, first entered the Kenyan market after acquiring bottom-tier lender Fidelity in 2016 for Sh100.

It then rebranded it to SBM Kenya in May 2017.

READ: Corporate debt fades on Chase, Imperial defaults

Chase Bank customers hit in two-day ICT outage

Rotich gives greenlight for Chase Bank takeover


Read More


Category: topnews news business

Suggested

3 hours ago, 23:53
@TheStar - By: Dpps
Uproar over new tax healthy, says DP Ruto

The government will eliminate wastage of public funds to ensure Kenyans get value for money, Deputy President William Ruto said yesterday.The DP said the government will only invest in projects that w ...

Category: topnews news
3 hours ago, 23:53
@TheStar - By: Maurice Alal @ala ...
Valiant schemes produce more rice

Western Kenya Schemes made huge rice production despite high costs and dilapidated facilities, regional manager Joel Tonui has said.The schemes produced 22,550 tonnes against the country’s annual rice ...

Category: topnews news
3 hours ago, 00:04
@TheStar - By: Hilton Otenyo @hi ...
Stop hypocrisy over Luhya unity, Mudavadi tells leaders

ANC leader Musalia Mudavadi has hit out at “dishonest” Western Kenya leaders who have become mouthpieces of an “outsider”.He said on Saturday that he is not interested in their advice.“Stop lecturing ...

Category: topnews news
6 hours ago, 21:24
@DailyNation - By: Collins Omulo
Post-mortem on 12 Pumwani babies set for Tuesday

Nairobi Governor Mike Sonko has announced plans for a "new look" 'Sonko Pumwani Maternity Hospital. ...

Category: topnews news counties
5 hours ago, 22:32
@TheStar - By: Star Reporter
Obado supporters hold protest, demand release from cells

A section of Migori residents on Sunday took to the streets protesting against the arrest of governor Okoth Obado.The residents with placards written 'No Obado , no peace' chanted his slogans while de ...

Category: topnews news
5 hours ago, 21:47
@TheStar - By: Brian Otieno @yob ...
Woman kidnapped in Mombasa found alive in Nairobi

The 20-year-old pregnant woman who went missing on Thursday has been found alive in Nairobi.Saida Abdulrahman is said to have been rescued in Nairobi's Majengo slum.The Eight months pregnant Saida  wa ...

Category: topnews news

@DailyNation

Chase bank system outage enters fourth day

2 months ago, 12 July 09:43

By: Bonface Otieno

Key banking services such as debit card transactions and mobile money transfer services are yet to resume at Chase Bank following an ICT system outage at the troubled lender.

The service interruption, which started on Sunday evening following the transitioning of its banking platform to SBM Holdings' new platform, has persisted for the fourth day in a row leaving hundreds of customers stranded.

The bank’s over-the-counter services such as cash deposits and withdrawals, cheque deposits, issuance of check books and electronic transfer services have however been operational despite the technical hitch.

SBM Bank Kenya acting chief executive, Jotham Mutoka, on Tuesday admitted the downtime had affected some of the bank’s services, but declined to give an indication as to when customers will start getting steady services.

“We are experiencing system downtime --but I may not be able to engage you further on the matter because I’m not the right person to comment,” said Mr Mutoka.

Chase Bank collapsed in 2016 with deposits of more than Sh100 billion, part of which was returned to small depositors while it was under the care of central bank.

Mauritius-based lender SBM formally took over the troubled lender in April this year upon conclusion of a sale deal.

The bank, whose shares trade on Stock Exchange of Mauritius, first entered the Kenyan market after acquiring bottom-tier lender Fidelity in 2016 for Sh100.

It then rebranded it to SBM Kenya in May 2017.

READ: Corporate debt fades on Chase, Imperial defaults

Chase Bank customers hit in two-day ICT outage

Rotich gives greenlight for Chase Bank takeover


Read More

Category: topnews news business

Suggested

3 hours ago, 23:53
@TheStar - By: Dpps
Uproar over new tax healthy, says DP Ruto

The government will eliminate wastage of public funds to ensure Kenyans get value for money, Deputy President William Ruto said yesterday.The DP said the government will only invest in projects that w ...

Category: topnews news
3 hours ago, 23:53
@TheStar - By: Maurice Alal @ala ...
Valiant schemes produce more rice

Western Kenya Schemes made huge rice production despite high costs and dilapidated facilities, regional manager Joel Tonui has said.The schemes produced 22,550 tonnes against the country’s annual rice ...

Category: topnews news
3 hours ago, 00:04
@TheStar - By: Hilton Otenyo @hi ...
Stop hypocrisy over Luhya unity, Mudavadi tells leaders

ANC leader Musalia Mudavadi has hit out at “dishonest” Western Kenya leaders who have become mouthpieces of an “outsider”.He said on Saturday that he is not interested in their advice.“Stop lecturing ...

Category: topnews news
6 hours ago, 21:24
@DailyNation - By: Collins Omulo
Post-mortem on 12 Pumwani babies set for Tuesday

Nairobi Governor Mike Sonko has announced plans for a "new look" 'Sonko Pumwani Maternity Hospital. ...

Category: topnews news counties
5 hours ago, 22:32
@TheStar - By: Star Reporter
Obado supporters hold protest, demand release from cells

A section of Migori residents on Sunday took to the streets protesting against the arrest of governor Okoth Obado.The residents with placards written 'No Obado , no peace' chanted his slogans while de ...

Category: topnews news
5 hours ago, 21:47
@TheStar - By: Brian Otieno @yob ...
Woman kidnapped in Mombasa found alive in Nairobi

The 20-year-old pregnant woman who went missing on Thursday has been found alive in Nairobi.Saida Abdulrahman is said to have been rescued in Nairobi's Majengo slum.The Eight months pregnant Saida  wa ...

Category: topnews news
Our App