INDEbank celebrates 40th anniversary with ICT
BUSINESS| Aug. 24, 2012, 7:35 a.m.
By Gregory Gondwe, Blantyre, Malawi
INDEbank, one of Malawi’s commercial banks, which derives its name from Investment and Development Bank of Malawi Limited, will this year be celebrating its 40th anniversary with new ICT banking innovations to its customers.
The bank’s marketing manager, Maxwell Ng’ambi, says as part of the celebrations they have upgraded their ‘Flexcube’ banking system.
“It has now been synchronized with an in-house ATM switch which has boosted customers to access value added services such as utility bill payments and buying of airtime for TNM, Access and Airtel,” explained Ng’ambi.
Ng’ambi told The Daily Times that their internet based banking facility allows customers to conduct financial transactions on safer and secure website in the comfort of their homes and offices at their convenient time.
“Internet banking offers convenience as customers are not adhered to the stipulated banking hours,” he said.
“All you need to access the facility is a computer and internet with pre-arranged login credentials which the user needs to get from the bank. There are many advantages to using the INDEbank online facility,” added Ng’ambi.
He says fraud can easily be detected and tamed with the availability of an online facility.
“You can track your balance daily, see what cheques have cleared and when and know when automatic deposits and payments are made. This is all possible by simply going online to our website and logging into your account,” he says.
INDEbank was established in 1972 as a development bank but following the issuance of a commercial banking license in 2001, it transformed into a commercial bank.
MORE BUSINESS NEWS
Telecom M&A and digital convergence to lead deal activity in AfricaTMT Finance is teaming up with IHS Towers, the largest mobile telecommunications infrastructure provider in Africa, Europe and the Middle East, to bring an international audience to Africa’s technology hub, Lagos, for the first event of its kind in Nigeria. Read More
Reach for Change Africa calls for strengthened social entrepreneurshipReach for Change Africa is calling on social entrepreneurs, NGOs and government to play their role in strengthening the social entrepreneurship sector in Africa on International Day of Youth 2016. Read More
Stanford Seed Entrepreneurs join top Silicon Valley business leaders at Global SummitAfolabi Abiodun, CEO of Nigeria-based telecommunications company SB Telecoms, couldn’t quite believe his eyes as he stood on Stanford University’s bustling Silicon Valley campus recently. Read More
Etisalat, YuuZoo launch e-commerce portal for SMEsNigeria’s most SME-friendly telecommunications operator, Etisalat, in partnership with Singapore’s YuuZoo Corp, has unveiled a bespoke e-commerce platform, SME Arena, to facilitate the growth of Small and Medium Enterprises (SMEs) in Nigeria. Read More
Mstore plans $50m African expansionMidcom Group has announced expansion plans aimed at making its Mstore the largest mobile and electronics retailer in Africa. Read More
*astTECS Expands Operations in Africa*astTECS, a leading provider of Enterprise Telecom Technology Products and Asterisk based Open Source Communication Solution, is expanding its Africa footprint with a presence in Ghana and Botswana. Read More
The Tech Revolution: Sage Sets out the Vision for African BusinessesSage, a market leader in cloud accounting software used its global Sage Summit 2016, held this week in Chicago, to outline its strong commitment to future technologies, with a focus on new and existing initiatives that power business growth. Read More
Francistown Barclays gets cardlessCardless cash deposits have been launched in Francistown. Read More
Business incubator to boost 200 Zimbabwean entrepreneurs200 would-be Zimbabwean entrepreneurs are set to benefit from business training and support, thanks to a business development programme to be launched by business incubation specialist KBA Africa. Read More
Union gives Globacom 14 days to reinstate 54 sacked workersThe Private Telecoms & Communications Senior Staff Association of Nigeria (PTECSSAN) has urged Globacom to reinstate the workers it allegedly sacked from its service. Read More
FEATURED STORYFinancial services sees AI as both opportunity and threat
Banking is already a key area where technology is having an impact throughout Africa, and a new survey assesses the impact artificial intelligence will have on this sector.
BEST READ NEWS
IN DEPTHAccess and Use of ICT stats released
Statistics Botswana has released the first results of the 2014 Information and Communication Technology Household Survey.