Co-operative Bank of Kenya has been celebrated for its technological advancement in the banking sector, taking home accolades at the 2024 CIO100 Awards.
The recognition comes courtesy of the bank’s Direct Settlement System (DSS), introduced in August 2023, which has transformed coffee transactions at the Nairobi Coffee Exchange (NCE).
The DSS has modernized the process of settling coffee sales, enhancing efficiency and transparency.
To date, the system has successfully processed over KSh 30 billion worth of coffee transactions, demonstrating its capacity to streamline industry operations.
This achievement marks a continued streak of recognition for Co-op Bank.
In the previous year, Charles Khacheso Washika, who leads the bank’s ICT and Innovation department, was awarded the prestigious title of CIO of the Year.
The CIO100 Awards, organized by dx5, spotlight companies and tech leaders across Africa who utilize digital solutions to foster growth and innovation.
Co-op Bank’s consistent wins underline its commitment to leveraging technology to enhance service delivery and promote financial inclusion.