The ManicaPost
Business Reporter
LEADING financial services institution, Stanbic Bank, is banking on its top-notch innovative mobile and internet platforms to ensure its clients are well served throughout the 30-day lockdown.
Having been awarded Best Bank by The Banker in December for innovative products that mitigated against its clients and employees contracting the coronavirus, the Standard Bank Group subsidiary is going full circle to implement the same measures that put its customers and staff’s safety first.
Stanbic Bank head of marketing and communications, Mr Palmer Mugavha, said the institution is adopting a safety-first approach for the benefit of both its customers and members of staff and its digitisation strategy will ensure that this approach is achieved without much incident.
“This invisible creature, Covid-19 has reared its ugly head in a more deadly fashion and we have to be more alert now than ever before because of the nature of this second strain.
“As a bank, we have ensured that 70 percent of our staff work from home, albeit with emphasis that the level of customer centricity which has been our hallmark over the years is upheld even more” said Mr Mugavha.
He said while Stanbic Bank fell under an essential service whereby workers are permitted to report for duty, the institution is relying on its highly innovative mobile and online banking platforms to ensure that customers are not compromised in any way, shape or form throughout the lockdown period.
“Stanbic Bank definitely applauds Government for ensuring there is a lockdown because the numbers of lives being lost is sky-rocketing and staying indoors has to be at the forefront of any measure to mitigate against the spread of this disease.
“In that regard, as a bank we are encouraging our clients to make use of our numerous platforms and do their transactions at home,” said Mr Mugavha.
In 2018, Stanbic adopted digitisation as a means of keeping abreast of technological advancement in line with global trends, which also became ways to mitigate against the menacing Covid-19.
Stanbic Bank launched contactless debit cards and POS machines, becoming the first financial services institution to introduce this highly secure innovative technology onto the Zimbabwean retail market.
Apart from the contactless debit cards and point of sale machines,Stanbic Bank stepped up functionality of FCAs on digital banking platforms in addition to launching a technologically advanced application which allows account holders to pay bills and make in-store purchases from their phones using QR code scanning technology called SlydePay.
This lockdown comes as Stanbic Bank Zimbabwe has just taken the cost of accessing some of its digital banking platforms from the customer to the bank.
In late December last year, Stanbic Bank made sure its customers enjoyed the convenience of digital banking by taking over the internet data cost in pursuit of its customer centricity approach to implementing its digital bank strategy.
To that end, Stanbic zero-rated the platforms for all their customers who are Econet subscribers in recognition of the escalating data bundles costs among others.
Stanbic is negotiating with the other mobile network service providers to make the same service available to NetOne and Telecel subscribers.
Meanwhile, Stanbic Bank has appointed its chief financial officer, Mr Solomon Nyanhongo as the new chief executive with effect from January 1.
Nyanhongo takes over from Mr Joshua Tapambgwa who leaves after 18 illustrious years with the bank.
Standard Bank Group subsidiary board chairman, Mr Gregory Sebborn, said:
“Please join us in congratulating Solomon as he assumes his challenging new position and we look forward to him continuing to drive growth and innovation in the bank for the benefit of its many and varied customers.”
Mr Nyanhongo joined the bank in 2003 as a senior manager, finance.
He was then appointed head of finance in 2009 and subsequently chief financial Officer in the same year, a position he has held till his recent appointment.
Nyanhongo is a Chartered Accountant who also holds various qualifications, amongst which is a Master’s in Business Administration (MBA) from Nottingham Trent University (UK) Bachelor of Accounting Science (Honours) from University of South Africa (UNISA) and an Honours Accounting degree from the University of Zimbabwe (UZ).
