Building Trust Through Data: Reflections from KDIC’s SCV Engagement

Building Trust Through Data: Reflections from KDIC’s SCV Engagement

On the morning of 28th April 2026, KDIC convened member institutions (banks) at the Kenya International Convention Centre (KICC) for a stakeholder engagement on the Single Customer View (SCV) framework.

Why Single Customer View (SCV)?

During a bank failure, the speed of reimbursing depositors is largely determined by the quality and integrity of the bank’s data. In practice, depositor records are often incomplete, duplicated, or dispersed across multiple, unintegrated systems.

The Single Customer View (SCV) framework is designed to address this challenge by requiring institutions to consolidate all depositor information into a single, accurate, and comprehensive record. This enables prompt and efficient reimbursement of depositors, thereby strengthening confidence in the financial system.

What is the challenge?

The discussion focused on the identified challenges for speedy depositor reimbursement and what would the practical solution. Participants acknowledged that while much of the depositor data already exists within institutions, it is not always structured in a way that supports quick and accurate data access.  This comes against a backdrop of global standards of timely reimbursement of depositors within 7 days of the bank failure.

What is the way forward?

To address these challenges, KDIC established a Technical Working Group (TWG), which developed SCV templates to facilitate the aggregation of depositor data. The TWG comprises representatives from both banks and KDIC.

To ensure inclusivity and capture the perspectives of all stakeholders, KDIC engaged bank representatives and presented the proposed SCV data template for their review, input, and feedback.

The engagement continued on 30^th April 2026, with a focused session bringing together Compliance, Risk, Legal, and Data Protection teams from member institutions. This follow-up discussion allowed for deeper engagement on governance, regulatory alignment, and data handling considerations, particularly in relation to privacy and institutional accountability.

There was general agreement that successful implementation will depend on internal prioritization within institutions, including system adjustments, data validation processes, and management support. The SCV framework was viewed as a practical measure to improve payout timelines and maintain depositor confidence.

The engagement closed with a shared understanding that improving data quality is central to effective deposit insurance. While the framework provides direction, progress will depend on how consistently it is applied across institutions.