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
Yu, Orange exit to shake Kenya’s telecoms sectorA wind of change is sweeping across Kenya’s telecom sector following reports that Orange Group, just like Essar Telecom, could wind up its Kenya operations. Read More
Voice under pressure, data growing in latest MTN resultsAggressive price competition and lower mobile termination rates caused a decrease in voice revenue's contribution to overall revenue, while data services were a key driver of revenue growth, says MTN. Read More
Mustek, Huawei International Pte. Ltd. in $51 million project for Zambia Railway LimitedMustek Limited has announced its contract to supply and deliver over $12 million worth of Huawei’s ‘Signalling and Telecommunications’ equipment to a consortium upgrading Zambia Railway Limited. Read More
Senanu named AccessKenya deputy CEOAccessKenya Group has appointed Kris Senanu as its new Deputy Chief Executive Officer. Read More
Twinpine showcased at MWC14Nigeria’s Twinpine Mobile Advertising Network showcased its technological capacity at the MWC14. Read More
Strong growth for mobile printer marketThe global mobile/portable printer market will reach USD11.87 billion by 2018, says TechSci Research. Read More
Worldwide tablet sales up 68%Worldwide sales of tablets to end users reached 195.4 million units in 2013, a 68 per cent increase on 2012, according to Gartner. Read More
IHS secures US$490m to fund African expansionIHS Holding Ltd. has secured US$490 million of equity and debt in its latest financing round. Read More
PIVOT East partners with Tech Hubs for 2014 startup competitionThe organisers of PIVOT East, one of the most prestigious mobile startup competitions and conferences in East Africa, have announced a partnership with Tech Hubs across the region for 2014. Read More
FEATURED STORYMACRA demystifies spectrum management
Malawi's regulator explains the issues around spectrum allocation. Gregory Gondwe reports.
BEST READ NEWS
IN DEPTHYouthConnekt launches Mobile Apps for Human Development Challenge in Rwanda
Rwanda’s Ministry of Youth and ICT and the UNDP, in close collaboration with Motorola Solutions, will power a Mobile App Challenge that will be implemented by YouthConnekt.