NMB digital drive intensifies
NMB bank has intensified its digitalisation drive in response to the negative impact of Covid-19.
The financial services institution said business activity was negatively affected by the second phase of the national lockdown, which came into effect on January 15, 2021 and was relaxed at the end of February.
NMB Bank said the digitalisation drive has seen it coming out with additional customer centered products.
The bank now has a virtual branch that allows customers to conduct cash transactions on their mobile phones and visits to physical branches have been confined to simply walking into the branch to either drop or pick up cash.
Also among the innovative digitalised services is an automated loan application process allowing customers to apply for personal loans via a short code and access to nearest branch for instant cash disbursement.
“The bank also now provides instant NMBLite account opening using the short code; digital account opening for normal KYC accounts on NMBConnect. This allows customers to upload KYC documents without need to visit the bank,” said the bank in a trading update.
The bank also now offers a virtual service excellence representative assistant, named Sera. NMB Bank said it has continued to transform into a digital bank without losing the bank’s known customer service quality.
NMB Bank said its digital platforms continue to serve all forms of businesses in the country, high net worth customers, SMEs and the broader market segments through digitally enabled products and platforms.
The bank is working on zero-rated mobile banking facility, which will enable customers to access the bank’s mobile platforms without using their own data.
Operationally, the group recorded 42 percent growth in inflation adjusted total income for the three months ended 31 March 2021.
The bank reported inflation adjusted regulatory capital as at 31 March 2021 of $4.1 billion and it is in line with the regulatory capital requirements.
NMB Bank said it was confident that it will achieve the required minimum regulatory capital level for Tier 1 banks of US$30 million by the set date of 31 December 2021.
In its outlook the bank said it was confident that the government’s Covid-19 containment measures will curb the pandemic. The government has secured some of the Covid -19 vaccines currently being rolled out.
NMB bank is optimistic the projected good 2020/2021 agricultural season will positively impact economic growth prospects.
The Group’s banking subsidiary will continue to strategically focus on the enhancement of its digital channels in order to further improve customer experience as well as contribute to the financial inclusion.-heradlc.l.zw
