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Stanbic rolls out new sales tablet for paperless processing

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A LOCAL unit of South Africa-headquartered Standard Bank Group has rolled out a new sales tablet and application as the bank goes paperless to improve efficiencies, the bank has announced.

The sales tablet, which is expected to grow the bank’s customer base, will be used by sales consultants to sign up new customers, allow the completion of all required documentation and capture customer details including electronic details such as signatures.

Stanbic Zimbabwe head of personal and business banking Brian Ndadzungira said the tablet would play a critical role in improving financial inclusion in the country.

Stanbic is a member of the Standard Bank Group which has representation across 18 African countries.

The sales tablet, according to the Ndadzungira, has been launched in Ghana, Tanzania, Angola and Zambia.

“The most significant advantage of using this application on tablets is mobility as we are now able to deploy customer sales consultants outside traditional branch environments to service our customers at their workplaces,” Ndadzungira said.

Stanbic Bank earnings for the six months to June were up 23% to $8 million driven by growth in net interest income.

Fee and commission income, according to the bank’s chairperson Sternford Moyo, grew by a marginal 1% to $14,4 million due to a reduction in bank charges following the implementation of the memorandum of understanding (MoU) between banks and the Reserve Bank of Zimbabwe.

Last week, the Reserve Bank of Zimbabwe made an about-turn on the issue of bank charges, giving banks the green-light to review their charges, effectively revoking the MoU.

Immediate past central bank chief Gideon Gono said with effect from December 1 2013, the banks would now have autonomy to peg bank charges.
The central bank, however, warned the financial institutions against charging high service fees.

The review came after the Bankers’ Association Zimbabwe had warned that the sector could lose nearly $73 million between March and December this year due to the lowering of bank charges.

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