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NBM plc takes the lead in Digital & Financial Inclusion

NBM plc takes the lead in Digital & Financial Inclusion

Mike Kalumbi by Mike Kalumbi
10 months ago
in Business, Featured
Reading Time: 2 mins read
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National Bank of Malawi plc has vowed to continue taking the lead in delivering digital financial services to its customer through provision of innovative digital solutions.

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The bank’s Head of Digital Banking Services William Kaunda said this during a dinner with the media at Protea Hotel Ryalls in Blantyre.

During the activity, Kaunda disclosed that NBM is piloting Mo Pay, a new digital banking and payments solution that will use a smart phone to scan Quick Response (QR) Codes to send and receive payments.

“We are working on ensuring that we provide digital financial services to all people in the country regardless of their location. Based on our engagements with our stakeholders, we have observed that the acceptance of digital financial services has been good. Lately, we have seen huge uptake of digital products and currently over 90% of our transactions are done digitally,” said Kaunda.

He added that despite the few problems encountered in accessing the digital services, the bank is making sure that its customers enjoy the best quality services at all times. He urged all sectors to use the bank’s services that support all kinds of tractions in all locations.

In his remarks ICTAM president, Bram Fudzulani, commended the move by National Bank of Malawi for taking an initiative to engage all stakeholders to ensure digital inclusion.

“National Bank of Malawi has done a commendable job in bringing together different stakeholders. This will help to bring a positive story to an industry that is marred with a lot of negativity. We need to engage more of the consumers to pinpoint the areas that need to be cleared,” said Fudzulani.

He added that ICTAM is advocating mass digital literacy and the move by National Bank of Malawi has contributed to ensuring more people across the country have access to digital services and that the fully benefit from them.

One of the stakeholders at the event, Blantyre based vendor and Chairperson of Limbe Vendors Association, Martin Matchindu, applauded National Bank of Malawi for the digital services that have enabled him to transact easily in his business operation.

“Through the digital methods of transacting that National Bank of Malawi is providing, it has enabled me as a vendor to easily sell my products to everyone. I no longer worry about carrying huge sum of money to purchase my products. I no longer worry about getting counterfeit money as most of the transactions are done digitally through NBM’s Mo626,” said Matchindu.

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He has urged his fellow vendors and all others trading in the informal sector in the country to utilize the digital platforms provided by the bank for them to equally benefit from these services.

NBM plc, through its Digital and Financial Services Department also encouraged the media as well the ICT Association of Malawi (ICTAM) to push for financial and digital inclusion by sharing more stories of successes in the sector widely.

Prior to this, National Bank of Malawi invited 15 members of the Vendors Association of Malawi and Minibus Association of Malawi to visit the bank to interact with the staff and learn more about NBM Plc on March 18, 2022. The engagement activity presented an opportunity for the bank to interact with representatives of marginalised groups to educated them on various digital financial solutions available for them provided by the bank.

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