Photo of Geoffrey Gursel, Citi, accepts the award on behalf of Population Services Kenya.
PSK is one of the first corporates in Africa to leverage API connectivity with its banking partner. Doing so has transformed its payment process and allowed the company to continue to scale.
Population Services Kenya (PSK) is a non-governmental organisation that provides life-saving information, products and services to tackle the most pressing health problems.
in partnership with
API connectivity enables PSK to achieve its business objectives
Population Services Kenya (PSK) receives and generates funding from multiple sources and processes in excess of 10,000 transactions on an annual basis. Traditionally, the company initiates these payments manually on its online banking platform. However, this resulted in payment tracking limitations, reconciliation gaps and a highly manual reporting process.
With efficient and scalable cash management services key to the company’s overall goal of remaining a leading provider of healthcare services, the treasury team were tasked with finding a solution to its payments challenge.
To overcome this issue, PSK invested in a sophisticated ERP system. It then began looking to partner with banks that could provide solutions to automate the payment and reporting. After an extensive analysis of the market, PSK decided to select Citi to provide this service and set about integrating its ERP with the bank’s platform and payment processors through APIs.
PSK was keen to connect through API’s as it creates a unique messaging mechanism that interfaces directly into a company’s database and enables multiple third parties to access data in real-time without having to connect to the database itself.
The API integration took place in parallel to the ERP upgrade and this enabled the two parties to build off existing functionalities with the system, reducing implementation time. Once the connectivity was in place, PSK and Citi set about testing the functionality and making the necessary changes to ensure that full straight through processing could be achieved.
Once it was confirmed that everything was working as it should, PSK quickly began to realise numerous benefits. This included payment processing time being reduced from hours to minutes. Automation was also realised in its acknowledgement messaging, reporting and reconciliation processes.
It has also reduced operational and financing risks whilst ensuring that PSK can cater to growing payment volumes in the short term that can support their core objectives. It is anticipated that PSK could ramp up annual payment volumes from 5,000 – 10,000 to as high as 100,000 with no additional development required.