Investrust customers to transact using mobile

VALUE ADDED SERVICES

By Edith Mwale, Lusaka, Zambia

Customers of Zambia’s Investrust Bank will now be able to transact using their mobile phones, with the launch of InvestMobile.

The facility will take bank access to unbanked communities in urban and rural areas.

The bank’s Managing Director, Friday Ndhlovu, says the product will be rolled out to existing account holders before being extended to the unbanked communities.

“More than a billion people in emerging and developing markets have cell phones but no bank accounts. Mobile money is beginning to fill this gap by offering financial services over mobile phones, from simple person-to-person transfers to more complex banking services,” Ndhlovu said.

InvestMobile, among other features, provides an account summary of the last seven transactions, payment of bills to various utility companies including Lusaka Water and Sewerage Company and MultiChoice and Zesco.

Through the facility, customers will also be able to view status on accounts such as deposits, loan statement and position on cleared or uncleared cheques and make transfers within the bank and external accounts held with other banks.

Ndhlovu said the bank has over the past years invested heavily in its systems and information communication technology (ICT) infrastructure using the funds raised through the Lusaka Stock Exchange (LuSE) in 2007.

Ndhlovu cited InvestNet, an internet online banking which has online account and transaction, VISA GreenCard with the latest chip and pin technology which ensures maximum security.