Kenya: Absa Bank launches enhanced offerings for affluent customers

Absa Bank has reaffirmed its commitment to meeting the needs of today’s customers while enhancing its focus on the affluent segment through an expanded range of offerings.

The revamped affluent offering is a central element of Absa Bank’s refreshed consumer banking strategy, which has shifted from a product-driven approach to a customer segment-led model, informed by valuable customer insights.

Absa Bank’s inclusive strategy guarantees that every customer, regardless of their financial status, can find value in its offerings. To enhance this approach, consumer banking has been categorized into three segments: NextGen consumers, mass and middle-market consumers, and affluent consumers.

In response to the changing needs of its clientele, Absa’s affluent banking division has restructured itself as a dedicated enabler, assisting customers in achieving their personal, professional, and business objectives. The expanded banking suite features a three-tiered framework designed to cater to a range of clients—from entry-level professionals and entrepreneurs through the Prestige tier, to mid-tier affluent clients with the Premier option, and top-tier clients through the Premier Wealth tier. To further demonstrate its commitment, Absa has recently appointed a Director of Affluent Banking, highlighting its focus on delivering services that support customers throughout their financial journey.

With the renewed approach, Prestige clients will receive tailored financial guidance and opportunities that align with their aspirations, facilitating their progression to the Premier segment. Similarly, Premier clients will be supported in their unique journeys toward the Premier Wealth segment. Each tier will benefit from a dedicated team of specialists, providing personalized advice focused on wealth creation, investment growth, protection, and preservation, all aligned with individual goals.

Prestige customers will gain access to retrenchment cover, along with a Platinum Card that offers perks such as complimentary lounge access, an interest-free period of up to 50 days, extended warranty, and purchase protection. In contrast, Premier customers will enjoy advantages like a Signature Card, which includes lifestyle benefits such as lounge access, meeting rooms at Premier Centres, and invitations to exclusive experiential events, thought leadership sessions, and networking opportunities.

In addition to the recently launched Infinite Card, Premier Wealth customers will also access wealth management solutions such as structured notes and generational wealth transfer solutions.

Speaking about the enhanced services, Absa Consumer Banking Director, Moses Muthui, said, “As the wealthy look for better returns, we are seeing new opportunities open across markets. We have seen a gap in how entry and mid-affluent consumers are served. With our strong history and loyal customer base, we are focusing on building even stronger relationships through personalized service and leadership in this space.”

On her part, Seema Desouza, the Director of Affluent Banking at Absa Bank Kenya said, “Our affluent banking serves a broad spectrum of clients, driven by their unique insights to meet distinct financial goals and preferences. This laser focus reinforces our commitment to addressing the diverse needs of every segment we serve.”