CfC Stanbic Bank in Kenya have opened the first ever digital experience bank branch in the country. The branch in Mombabsa’s Nyali Centre Mall is set to radically alter the way customers take care of their financial needs and conduct their daily banking business. CfC Stanbic Bank’s focus is on enhancing the way Kenyans engage
Exim Bank Tanzania has launched a special branch stimulation training for its staff in a move aimed at enhancing efficiency in delivery of services. New members of staff are scheduled to get an average of 56 hours of training, while others would have a minimum of 160 hours of ongoing classroom exposure. Speaking at the
United Bank for Africa (UBA) Plc has taken banking to a new level with the introduction of twitter based transaction alerts for customers. The bank has announced that customers will now have the option of receiving transaction alerts in their Twitter direct messages inbox. Before now customers can only receive transaction alerts as text messages
Rwanda’s banking sector recorded increased profits in the first quarter of 2014, thanks to a cash-hungry economy recovering from the 2013 slump. The sector recorded Rwf700m in total profits during the first three months to hit Rwf8.8 billion (approx. $10m) measured against last year’s Rwf8.1b, Rwanda’s central bank announced two weeks ago. While there was
The Bank of Tanzania (BoT) is considering the use of Short Message Service (SMS) to educate the public on legal tender security features, being part of strategies to prevent fabrication and distribution of counterfeit notes. Commenting on the seriousness of the matter, Senior Clerical Officer from the BoT, Directorate of Banking, Ms Rehema Zongo admitted
While technology is changing every aspect of banking operations, 77 percent of participants in a recent survey say the greatest impact will be on customer satisfaction and regulatory compliance. Some regulators, however, believe banks are moving too slowly. “The Benefits of Innovative Information Technology in the Banking Industry” was conducted by the Frankfurt School of
One-quarter (25 percent) of UK consumers would consider using a pure digital bank – a bank with no branches or call centres that is only accessible via laptops and mobile devices, according to the latest survey of UK current account customers conducted by Accenture. Customers aged 25 to 34 are most keen on the idea
Tanzanians have been urged to build and strengthen a culture of saving through banks and other financial institutions for their own benefits and the country’s economic development. Talking to journalists in Dar es Salaam, the Deposit Insurance Board (DIB) officials said the culture of saving through banks enables depositors access loans for their development. The
Members of the public in Tanzania may soon start accessing credits on competitive terms, thanks to the Credit Reference Bureau (CRB), that commercial banks have embraced amid optimism that the data base will help to extend financial services to more people, a new study has shown. CRB is the database for consumer credit information that
Standard Bank Group shows the best financial health of all the financial institutions on the African continent, according to The Banker Top 1000 World Banks 2014 rankings. They top the list in Africa with Tier 1 capital of US$10.57-billion and pre-tax earnings of US$2,9-billion. However, the list also shows that they slipped in the global
