Stanbic Bank continues to make the use of ICT top of its list as way of enhancing customer experience in the banking industry. This was reiterated by the Bank’s Head of Customer Channels, Calistas Chijoro.
Chijoro said they have introduced a new core banking system which went live two years ago and continues to bring a number of operational benefits to the organisation. Though largely felt in the form of back-office efficiencies, the ultimate benefits to the customer include enhanced operational efficiencies and effectiveness, further ensuring that Stanbic Bank can truly move Batswana Forward. In the era of advanced technology, Chijoro explained that ICT is very important to them as a financial institution. A testament of that fact is the way in which the new technology, coupled with the impressive human capital and expertise at the Bank, have resulted in a number of strategic roll outs of innovative, self-service channel-based product and services offerings. This is, as Chijoro notes, just the beginning.
To that end, the Bank has introduced a number of initiatives in a bid towards responding to customer needs to ensure greater convenience and an overarching better banking experience. The days of having to queue in the banking halls are behind us, with convenience, peace of mind, and comfort top of mind.
Chijoro said the introduction of smart mobile phones has changed the technology landscape, and as such Stanbic Bank has not been left behind in this revolution. “It is important to lead from the front, and if we want our customers to benefit from the digital revolution, it is up to us in the financial services space to empower them to do just that,” he notes. Through the use of mobile phones and computers, customers are able to carry their transactions through mobile banking and Internet banking, something Chijoro said is making lives easier for their clients. “Banking on the go is not a new or unfamiliar concept, but as an industry, we are now driving the use of digital platforms and innovations more. We at Stanbic Bank are excited to be a part of this movement in a very real, very substantive way.”
Chijoro said such platforms do not only limit customers to just access their bank accounts, as the functionalities and possibilities are extensive beyond previous offerings. From checking balances, to making prepaid purchases and money transfers, the opportunities are virtually endless. “The focus was to make life easier for customers and we want to harness the potential of ICT to make our customers’ banking experience easier and more enjoyable,” he notes.
One of the most recent innovations in this vein is that of the recently introduced Instant Money product. Through Instant Money, Stanbic Bank users can send money via the Internet or mobile banking to an unbanked individual. They will, in turn, withdraw the money from the ATM using a voucher sent to them. Chijoro explained that the initiative was introduced to ensure greater access for unbanked communities in an effort towards ensuring greater financial inclusion. “A great part of this, beyond access and inclusion, is the certainty of security that comes with these kinds of platforms.” Chijoro notes that the Bank has put stiff measures in place to ensure that customer funds are secure and all customers can enjoy the peace of mind that comes with appropriate, safe and accessible banking.
The Bank has embarked on a three-year journey to enhance its ICT component, with a firmly entrenched innovation aspect in the overall strategy of the business. Chijoro says this includes continuing to introduce a number of platforms that will move Batswana forward through a better banking experience, catering for and indeed anticipating their future needs.