News Column

Mobile Banking Usage Rates to Grow-FNB

August 11, 2014

Judith Namutowe

FNB Zambia has said mobile banking usage rates are set to grow swiftly due to increasing mobile phone penetration rate and an innovative banking sector that is pushing hard to reach a large, still unbanked segment of the country's population.

In an interview in Lusaka, head of strategic marketing and communications, Clotilda Mulenga said the mobile phone was playing an increasing role in banking in Zambia.

Ms Mulenga said the bank was gradually moving from using mobile and internet banking merely for information purposes such as checking one's balance or statement to actually transacting on the phones.

"Subsequently, at FNB, we have seen a steady growth in transactions and volumes across all our channels as customers' comfort levels with internet and mobile banking rise.

The increasing convergence between cell phone and banking technology for communication, shopping and banking means more of our customers are using their devices for banking purposes," Ms Mulenga said.

She said in the last three years, FNB has seen an increase in the number of customers who use mobile phones and tablets to do their banking using the bank's banking application.

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Source: AllAfrica

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