INDEbank celebrates 40th anniversary with ICT

BUSINESS

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 40^th 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.