Bank of Kigali Launches Open API Platform to Transform Business Banking
Bank of Kigali has introduced an Open API platform, allowing businesses and companies that bank with the institution to automate payments, track transactions in real time, and manage collections from a single system. This new platform is designed to integrate banking services directly into digital platforms already used by fintechs, developers, and businesses. The rollout comes as part of a broader initiative to reduce delays, cut manual processes, and simplify financial operations for firms dealing with increasingly complex transaction workflows.
The BK Open API was unveiled at the Inclusive FinTech Forum in March and has now been officially rolled out to corporate customers. The product launch event took place at Kigali Golf Resort & Villas on Thursday, April 2, where it was introduced to BK partners, stakeholders, members of the bank’s leadership, and the BK Business Club. The event also served as a networking opportunity, providing a platform for exchanging insights and exploring partnerships aimed at strengthening collaboration between the bank and its clients.
Corporate Clients Welcome the Shift
Corporate clients at the event welcomed the new product, describing it as a step that could significantly improve operational convenience and speed. Jean-Claude Gaga, Managing Director of Airtel Money Rwanda, highlighted the long-standing partnership between Airtel and Bank of Kigali, noting that Airtel agents rely on BK for float and e-money services. He emphasized that the Open API will further strengthen this relationship by enabling smoother and more direct service delivery.
Gaga explained that, in the past, financial managers often had to make repeated calls to follow up on transactions, confirm payments, or seek supporting documents. With the API integration, much of that process can now happen instantly within one system. A chief financial officer, he noted, will be able to initiate a transaction, confirm payment, check its status, and retrieve the necessary records for internal use or auditors without leaving the office or depending on back-and-forth communication with the bank.
Looking ahead, Gaga said Airtel sees potential for broader collaboration with BK, particularly in extending similar efficiencies to large SMEs that work with Airtel. Such integration, he said, would positively impact service delivery and customer satisfaction.
How BK Open API Works for Businesses
BK Open API is designed to allow businesses and institutions to connect their internal systems directly to Bank of Kigali, enabling them to carry out a range of banking services from a single platform. Through the integration, companies can automate payments, receive payments from BK customers, and even create Bank of Kigali accounts for beneficiaries who need to access their funds.
The innovation is expected to ease operations for businesses that often juggle multiple systems to handle transactions. From payroll processing to vendor payments and real-time collections, the service is intended to reduce manual work, limit platform switching, and offer a more secure and efficient way of managing financial operations.
Why Integration Matters Now
Olivier Kamanzi, BK’s Client Access and Cash Management Manager, said the product comes at a time when businesses are expanding, and their operational systems are becoming more complex, making seamless integration increasingly important. He explained that many companies still spend unnecessary time moving between systems, especially when reconciling payments and updating financial records.
With BK Open API, he said, the bank is offering a ready-made solution that enables both collections and disbursements through one connected channel. For disbursements, clients use internet banking, where BK provides a dedicated sandbox environment for testing and integrating external systems into the bank’s API. Once integration is completed, companies can initiate payments ranging from salaries to vendor transactions through a single system.
For collections, the API is especially useful for businesses that require real-time monitoring and instant notifications whenever customers make payments. “We are opening our doors, and we want to collaborate with you so that we can ease the pain points of your accountants, finance teams, and more,” he said.
Additional Banking Products and Services
Alongside the introduction of BK Open API, the bank also showcased a range of its retail and premium banking products. Officials highlighted BK’s digital lending products, including BK Quick Loan, which offers up to Rwf500,000, and BK Quick Plus, which provides up to Rwf50 million. Both products are accessible to eligible clients, with applications available end-to-end through the bank’s mobile app and internet banking platforms.
For long-term financing, the bank emphasized its mortgage offering, which provides financing of up to 20 years. In addition, BK introduced its private banking service, which offers an exclusive package with an interest rate starting at 16.5 per cent, a rate officials said remains negotiable depending on the client profile.
Commitment to Premium and Tailored Services
BK’s Gasangwa said the bank remains committed to offering premium and tailored services that respond to the needs of both individual and institutional clients. He noted that BK is keen on expanding its reach across multiple segments, including retail, SMEs, agribusiness, and other strategic sectors of the economy.
“We always want to hear from our clients to understand their expectations and how much we can support them, especially during these turbulent times with more unpredictability,” he said. Gasangwa added that the role of the bank is not only to provide financial services, but also to listen closely to clients, anticipate emerging challenges, and help shield customers from potential disruptions.
As Bank of Kigali prepares to mark its 60th anniversary this year, Gasangwa said the milestone reflects the bank’s deep roots in the community and its continued contribution to Rwanda’s development, both locally and internationally.
