Bank Expects New Product To Penetrate Market
Goitsemodimo Kaelo | Monday January 18, 2016 18:00
Mobile banking services usage in the country is estimated at 22 percent, and the bank is hoping to increase these numbers.
The bank’s Managing Director, Jitto Kurian said during the launch this week that with its unique features, the product would be well appreciated in the market.
BancABC Mobi allows self-registration by users, a unique feature compared to other mobile banking solution competitors who have launched before and is the first of its kind in the country. The mobile banking product also has ‘Tell-A-Friend’ and ‘Loan’ application features differentiating it from others launched before it.
Kurian said that although the usage of mobile banking solutions has been slow in the country, they expect to have more customers who appreciate the product.
He said that the mobile platform is secure and safe for any kind of transaction.
“The issue with mobile banking penetration has nothing to do with the security of transactions, but with people’s mindset.
If we can get that right, the product would be appreciated in the market. We understand that our customers want efficient and reliable products and services, and BancABC Mobi is that solution,” he said.
Kurian said the bank aims to be a top tier bank in the country as they aim to be among the top three retail banks in the country. He said currently they rank at number five.
The bank’s country manager, Chester Nziradzemhuka said that the mobile banking platform allows transactions for both customers with smartphones and those who don’t have smartphones as it uses mobile app and USSD dial.
He said the product allows customers to perform different transactions including transfers to other banks.
“Users will have the liberty to conduct inter-account transfers between own accounts, make bill payments and purchases of prepaid electricity,” he said.
Nziradzemhuka also allayed fears that mobile banking solutions have security concerns saying that BancABC Mobi is safe and secure.