National Bank Pin-Points Electronic Transactions To Ease Congestion

National Bank of Malawi Plc (NBM) has set hopes on electronic transactions to ease congestion in its banking halls.

Through electronic transaction, customers transact in the comfort of their homes and offices instead of spending time on queues in banking halls.

NBM head of Cards and E-banking Division, William Kaunda told the local media that they want customers to use electronic devices such as phones and computers to undertake bank transactions because it is time and cost saving.

“As a bank, we have taken a bold step to introduce more electronic services and products because we know technology are here to stay. Currently, over 80 percent of our transactions with our customers are electronic and we want this culture to be deepened further. The products we have introduced are sophisticated and cannot be tampered with easily,” he said.

Kaunda said apart from launching credit cards in May this year, the Malawi Stock Exchange (MSE)-listed bank has also launched a platform where customers can pay taxes to the Malawi Revenue Authority (MRA) using their phones and computers at their convenience.

“We want to ensure that we make lives of our customers simple. Some customers fail to pay taxes not because they do not want, but due to time constraints,” he said.

The bank’s Corporate Affairs Manager, Annie Magola said they want more customers to use their phones to transact with the bank.

“Even customers who use basic phones known as /Mose Wa Lero/ can transact with us,” she said

Sadm Pharmaceuticals Group financial controller Sumaira Haroon said electronic transactions can make employees productive.

“Sometimes employees spend hours on end just to transact in a banking hall and by introducing e-banking services and making them available to all shows that the bank really cares for its customers. By also allowing its customers pay taxes to MRA using its platforms, it will also make the relationship between MRA and its customers better,” she said.