Stanbic launches ‘Bank for free’ product

Sat, 01 Jul 2017 12:15:37 +0000

By MAILESI BANDA

STANBIC Bank has pledged to embrace technology in their delivery of banking services to their customers.

Speaking during the launch of ‘‘Bank for Free’’, the bank’s chief executive officer Charles Mudiwa said this was to ensure they bank added value to its clients.

Mr. Mudiwa said the bank was continually endeavoring to keep banking systems in sync with modern ICT developments, revealing that they had invested in bringing the bank up-to-date with technology.

“We are ensuring that all our processes are in place along with ensuring that we promote our digital services to all our customers to increase uptake of digital services,” he said.

He explained that recently, Stanbic Bank had partnered with Direct Pay Online, a Kenya-based online payment solutions company, that had implemented similar projects in Eastern and Southern Africa to improve the e-commerce platform.

He said the platform allowed Zambian merchants to make online sales without customers physically presenting their credit or debit cards at the time of purchase, stating that the platform took advantage of the bank’s improved electronic channels, and allowed transactions to occur online, without the actual in-store debit/credit card swipe.

And MTN Zambia chief executive officer Charles Molapisi applauded the partnership between MTN and Stanbic, which he said would provide guaranteed access to banking services to all customers.

“We are excited to be working on the new service with Stanbic, as remote access to banking can improve the ability of Zambians to use financial services even when they are unable to physically go to a financial institution,” he said. The ‘‘Bank for Free’’ service enables Stanbic account holders who are MTN customers to access an internet banking and mobile banking smart application for free. The bank’s clients who are on the network will be able to access all Stanbic apps and websites and perform transactions without the use of bundles.