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
Riverbed to be acquired by Thoma Bravo in $3.6bn dealRiverbed Technology has entered into a definitive agreement to be acquired by leading private equity investment firm Thoma Bravo, LLC and Teachers’ Private Capital, the private investor department of Ontario Teachers’ Pension Plan. Read More
Egyptian revival spurs MEA PC market growthThe PC market in the Middle East and Africa (MEA) region grew 2.1 per cent year-on-year in the third quarter of 2014, according to the International Data Corporation (IDC), spurred by the revival of the Egyptian market and two significant education deals in Pakistan. Read More
ICT set to shape Africa's economic landscape in 2015With public cloud in emerging African countries set to grow at a compound annual growth rate of up to 84% over the coming five years, the year 2015 heralds the beginning of a new era for ICT adoption across the continent, says IDC. Read More
88mph and Microsoft Ventures partner to support startups in NigeriaMicrosoft, in partnership with 88mph, has announced the expansion of the Microsoft Ventures program into Nigeria. Read More
Riverbed names new senior VP of Sales in EMEARiverbed Technology has announced that Kristian Thyregod has been promoted to Senior Vice President Sales, in Europe, the Middle East and Africa (EMEA). Read More
M&A, infrastructure sharing, liberalisation to reshape telecoms in AfricaMergers, acquisitions, infrastructure sharing and market liberalisation will reshape Africa’s telecommunications markets by 2018, according to market analysts Frost & Sullivan. Read More
Dell, Intel study uncovers truth behind technology and the workforceDell and Intel have unveiled findings from its second Global Evolving Workforce Study, which identifies, and explores current and future trends pertaining to the workplace and workforce, and the role that technology has played in their evolution. Read More
PWC: Optimism abounds but a bumpy journey ahead for somePwC’s ‘Capital Projects & infrastructure in East Africa, Southern Africa and West Africa,’ report says infrastructure spend in the region is projected to reach $180bn per annum by 2025. Read More
Why govt listed Glo, others as top firmsNigeria’s national carrier, Globacom and 99 other top notch firms have been listed as top 100 Firms in Nigeria for the 2014 fiscal year. The top 100 companies list is based on international benchmark set by the International Integrated Reporting Council. Read More
Women can lead 21st century ICT industry, says Zinox chiefWith the right mix of innovation, business focus, accountability and ambition, women entrepreneurs can spearhead the evolution of the ICT industry in the 21st century, says the Chairman, Zinox Group. Read More
FEATURED STORYPWC: Optimism abounds but a bumpy journey ahead for some
PwC’s ‘Capital Projects & infrastructure in East Africa, Southern Africa and West Africa,’ report says infrastructure spend in the region is projected to reach $180bn per annum by 2025.
BEST READ NEWS
IN DEPTHAfrica lags on digital migration
Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.