INDEbank celebrates 40th anniversary with ICT
BUSINESSBy BiztechAfrica - 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
PwC investment to accelerate African growth opportunitiesPwC is increasing its investment in Africa and building closer links between PwC UK and PwC Africa, to meet increased demand for professional services as trade activity between the two regions grows. Read More
Kouros Capital Group announces multi-billion Nigerian investment planKouros Capital Group Limited (KCG) has announced that it is making immediate arrangements to bring into Nigeria substantial investment funding, for projects in telecommunications, agriculture, banking, oil and gas and aviation sectors. Read More
Samsung to open TV manufacturing plant in SASamsung Electronics South Africa announced its plan to open a television manufacturing plant in The Dube Trade Port, Durban by end of this year. Read More
Econet rejects base station reportEconet Wireless has released a statement refuting recent media reports around its importation of base stations. Read More
Nigeria: potential to become major economic forceA new McKinsey report finds that Nigeria has the potential to expand its economy by roughly 7.1 percent per year through 2030. Read More
Call for pan-African contact centre associationInteractive Intelligence has called for the creation of a call centre association for Nigeria and other African countries as a way of promoting a standard for call centres. Read More
AMI, Strathmore launch free online courses for managers and entrepreneurs in AfricaManagers and entrepreneurs in Africa can now gain advanced skills for free, with the launch of free online courses courtesy of the African Management Initiative (AMI). Read More
Bytes, NCR and Barclays in ATM dealBytes Managed Solutions, the exclusive distributor of NCR technology solutions in Southern Africa had signed a deal with Barclays Bank of Botswana (BBB) for the installation of intelligent cash deposit ATMs. Read More
Orange reports 8% revenue growthIntegrated telecommunications service provider Orange has announced an 8% revenue growth for the overall business for the first half of this year, compared to the same period last year. Read More
FEATURED STORYWidening ICT skills gap: Cause for concern
Nigeria's FDI gains could be eroded by the widening gap in indigenous skilled ICT manpower, writes Kokumo Goodie.
BEST READ NEWS
IN DEPTHKenya rolls out e-extension to improve agriculture
In a bid to curb the overwhelmed number of agricultural extension officers in Kenya, the ministry of agriculture is embracing technology with their introduction of E-Extension services, which are aimed at reaching out to over 7 million farmers annually.