Promoting accessibility
AFRICA
“ With technology you can provide a one-stop shop . It is the only way to be efficient , so we ’ ve therefore invested a lot in digital products ”
– Deputy Managing Director , William Mpinganjira of customers compared to traditional banks at present ,” notes Mpinganjira .
“ They are also growing at a much faster rate in terms of acquiring new , individual customers . A mobile phone is a lot less cumbersome than opening a bank account , especially now there are new rules which are not very conducive for small economies or developing countries .”
Promoting accessibility
Undertaking essential market research each year to better understand customer needs , FDH Bank has established a number of digital products . Launching the first mobile application and digital wallet service in Malawi in 2016 , the bank ’ s mobile wallets have enabled local citizens to gain access to soughtafter banking services which they had previously thought out of reach .
“ If one doesn ’ t even have a bank account or card , they can obtain a wallet and gain access to a suite of products that we have . If customers want to pay their electricity or water bill , they can do so through their mobile wallet , without needing to travel . If someone wants to send money or to pay a bill on behalf of another beneficiary , they can also do this through this technology ,” Mpinganjira says .
Additionally , for citizens that travel outside Malawi , FDH ’ s explorer wallet has provisioned the ability to continue transacting locally .
“ This is something we are scaling up . We ’ ve introduced it in South Africa but will be moving to the UK and the US within the next two to three months ,” Mpinganjira explains .
“ People who are immigrants in other countries , may have relatives who live
www . gigabitmagazine . com 267