The Competition Authority of Kenya (CAK) has approved the planned acquisition of control of Riverbank Solutions Limited by Kenya Commercial Bank (KCB).
In a Gazette Notice dated December 19, 2025, CAK Director-General David Kemei outlined conditions for the acquisition, including strict safeguards on data use.
KCB, as the acquiring entity, will be required to ensure that all third-party transactional, customer, or merchant data collected or processed through Riverbank’s infrastructure, networks, or platforms remains ring-fenced and is not shared, accessed, or used for purposes beyond those necessary for operations.
“The merging parties shall ensure that the Target Undertaking honours its current contracts with its customers as per the agreed contractual terms,” reads the notice.
The approval effectively makes Riverbank Solutions a subsidiary of KCB Group Plc.
In March 2025, KCB announced its intention to acquire up to a 75 percent shareholding in the financial technology firm as part of efforts to strengthen its regional distribution network. The bank is expected to tap into Riverbank’s capabilities in payment ecosystems and non-banking offerings, including capability building, network solutions, and marketplace services.
Through Riverbank’s technology platform, Zed 360, KCB plans to provide its SME and MSME customers with business management tools such as inventory management, financial reporting, and payroll services.
These tools are expected to ease financial operations, enhance visibility, and support informed decision-making for both customers and the bank.
Riverbank also offers three additional platforms: Swipe, which supports agency banking services; Zizi, a revenue collection solution; and CheckSmart, designed for social payments.
“We are actualizing new digital capabilities to deliver customer-centred value propositions through technology to guarantee seamless, reliable, secure, and innovative solutions for our customers. Across the region, payments are expected to have the fastest growth, suggesting an opportunity to innovate,” said KCB Group CEO Paul Russo.
“That’s why we have made this strategic acquisition to enable us offer a full stack of solutions. This is a great opportunity to maximize value for our shareholders in the long-term while strengthening the competitive position for the Group.”
According to KCB, the acquisition supports its broader strategy to expand digital MSME offerings, including seamless payment services, instant digitized lending, business management tools, and non-banking solutions such as business training and marketplace access.
The transaction is also expected to accelerate the Group’s ability to interconnect with partner platforms and fintechs to deliver services such as virtual wallets and payment APIs.
Riverbank Solutions is a Kenyan financial technology firm specializing in digital payment infrastructure, including mobile payment systems, switching services, point-of-sale applications, card technologies, and embedded device solutions.
