Zanaco has launched its mobile banking application which it hopes will significantly transform how its over 800,000 customers conduct their banking transactions.
Unveiled at a glittering event on Thursday night in Lusaka, the Zanaco banking app is now available for download on Google Play and App Store.
Zanaco Chief Digital Banking Officer Teza Ngulube said the launch of the app is in response to the customers who are rapidly moving to demanding better convenience and quicker access to their cash.
Mr. Ngulube said the Zanaco Mobile App is a major step towards transforming Zanaco into a digital bank to meet the needs of its customers.
He said between now and the year 2020, the bulk of banking transactions will be done by phone.
And Zanaco Chie Executive Officer Henk Mulder said the launch of the app is part of moves to redefine the bank’s strategy as it clocks 50 years of existence by 2019.
Mr Mulder said Zanaco is known as a Big Strong and Reliable bank but that the new strategy will add a fourth pillar which is innovation to Zanaco’s DNA.
He assured customers that Zanaco will be the most innovative back in the next two years leading up to 2019 adding that the app is just the start of a new ZANACO.
Mr Mulder further assured that the long queues at a familiar at Zanaco ATMs will soon come to an end as digital banking offers that solution, digital banking.
He said as a bank which is 25 percent owned by the Zambian Government, it has to remain fully responsive in supporting the growth of the Zambian economy by launching more innovative products.
Meanwhile, Zanaco Board Chairperson Charity Lumpa says the bank has taken digitalization seriously as more businesses are moving to electronic ways of doing things.
Ms. Lumpa said Zanaco is supporting the Bank of Zambia’s quest for a cash light society.
She also called for improved regulation in the sector that recognizes the importance of innovation by being supportive adding that there is need for collaboration between the bank and the regulators.
Ms. Lumpa also appealed to ZICTA should push Internet Service Providers to improve internet connectivity if the innovation taking place in the financial sector is to be fully realized.