Absa Bank Botswana realised growth rates of seven and 50% in the number of digitally active customers in its Retail and Business Banking segments last year, CEO Keabetswe Pheko Moshagane said recently.
Absa Bank Botswana realised growth rates of seven and 50% in the number of digitally active customers in its Retail and Business Banking segments last year, CEO Keabetswe Pheko
Moshagane said recently.
Speaking at the presentations of the bank’s results for the year ended December 2023, the CEO said the performance shows the tangible impact of Absa’s commitment to technological innovation and customer-centricity.
For the bank, which is the country’s second biggest by balance sheet, the Retail and Business Banking segment contributed 72% of total revenues last year. Pheko-Moshagane said Absa 2023 launched a first-to-market payments solution – Absa Mobi Tap, which is driving financial inclusion for entrepreneurs and merchants by giving them the option to use their mobile phones in place of traditional Point-of-Sale (POS) devices to process contactless card transactions.
The bank also digitised its credit card offering, enabling clients to activate their cards, freeze or unfreeze them, as well as request credit limit increases and decreases on the bank’s internet banking platforms. The bank also launched self-onboarding solutions for Retail and Business Banking customers, providing them with an enhanced customer experience in opening current and savings accounts online.
A mobile in-app authentication security update was also introduced to enhance the safety of clients’ funds, amongst many other initiatives. Pheko-Moshagane said Absa’s strategic investment in technology and focus on ensuring the security of its platforms has not only fortified its digital infrastructure but fostered a sense of trust and confidence among customers.
