National Bank of Malawi says that the electronic transactions has the potential of reducing the congestion in the banking halls as customers can transact in the comfort of their homes and offices.
Most of the times, the banking halls are characterized by long winding queues as most customers want to transact over the counter to make the deposits and withdraws.
NBM head of Cards and e-banking, William Kaunda said 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 products because technology is here to stay. we have introduced sophisticated products that cannot be easily tampered with." he said in Lilongwe at a cocktail that the bank organized for its Central Region Customers.
Kaunda said apart from the launching the credit card in may, NBM has also launched a platform where customers can pay taxes to the Malawi Revenue authority (MRA) using their phones and computers.
"We want to ensure that we make lives of our customers simple. Some customers fail to pay taxes not because they don't want, but due to time constraints." He said
Commenting on the Cyber Crime, the bank uses robust means to test its products and services and they use cyber experts. "They tested our products and systems for a considerable time and failed to penetrate. We do not compromise on security and our customers should be assured that their money is safe with us."
Group financial controller for Sadm Pharmaceuticals, Sumaira Haroon said that the electronic transactions will make employees productive.
"Sometimes employees spend hours just to transact in a banking hall and by introducing e-banking services, the bank shows that it cares for its customers. By also allowing customers to pay taxes to MRA using its platforms, it will make the relationship between MRA and its customers better." she said