Absa Botswana sees a 34% increase in digital service adoption
Amid increasing interest in digital banking channels in Botswana and increasing competition among service providers, Absa Botswana rolled out Digital Corners in its banking halls.
Absa Bank Botswana Retail Director, Valeta Mthimkhulu believes it is inevitable that COVID-19 will continue to push the banking sector to offer innovative and purposeful digital solutions.
“As we continue to navigate the challenges posed by COVID-19, it is evident that technology has become more important, more than ever before. It has become a safety implement for our society,” said Mthimkhulu.
Absa Botswana believes the Digital Corners, which facilitate online banking including forex payments, transfers, bill payments, mobile wallet, and card management, will help drive adoption of Fintech and attract new, perhaps sceptical customers.
Last year, Absa Botswana launched Sky Branch, which enables customers to transact via a call centre, as well as NovoFX, a mobile app that allows foreign currency denominated transactions online, a Chat Bot ‘Abby’ that enables customers to make enquiries and transact on WhatsApp and Business Banking app.
According to the Bank, its ramped up digitalisation drive resulted in a 34% increase in the adoption of digital services.
Absa Bank Botswana Managing Director, Keabetswe Pheko-Moshagane said, “Indications are that customer preferences are mounting towards self-service channels.”
Competitor BancABC has also detailed its digital strategy, underpinned by Nigeria’s Access Bank’s acquisition. BancABC Botswana Managing Director, Kgotso Bannalotlhe, said the Bank will leverage “digital banking capabilities, and innovative product offering, as well as trade finance and international banking from Access Bank’s footprint across Southern Africa.”