BancABC has launched BancOnline, a digital platform designed to modernise the core banking structure, in order to enable enhanced system perfomance and transactional channel systems.
BancABC Managing Director, Kgotso Bannalotlhe, said the bank has over the past 18 months channeled resources and efforts into fixing the basics to prepare for future growth.
He said in 2018, BancABC Botswana made major strides towards its main goal of becoming one of the top three banks in the country; a target set to be attained by end of 2021.
Firstly, the bank improved the availability, reliability and efficiency of the entire core banking system, courtesy of the ABCH Group CEO, Sanjeev Anand, Bannalotlhe pointed out.
This, according to the MD, helped to produce additional funding to support the bank’s transformational journey by listing on the Botswana Stock Exchange Limited (BSEL) in December 2018.
“The Bank remains focused on building and augmenting an improved customer value proposition, better customer service and a more relevant product offering delivered in a convenient manner. This is via a complementary strategy led by digital capability,” he said.
With 2019 earmarked as the year of transformation, the bank has so far made intensive effort to invest in further growth, and has made key investments in technology.
“We firmly believe that our purpose as a bank is to invent and reinvent financial solutions that empower our customers to fulfill their dreams at every stage of their business journey,” he added.
By improving digital channels, the bank is now galvanising its position as a full service bank that serves both retail individual clients, and SMEs up to large corporates, Bannalotlhe stressed.
African Banking Corporation Holdings (ABCH) Group CEO, Sanjeev Anad, said BancABC Botswana is a fully capitalised financial service as a subsidiary of Atlas Mara Limited.
As a group, whose objective is to become a leading financial services body, Anad insisted that its operations in Botswana are focused on harnessing technology to ensure efficiency and enhance access to financial services.
“By moving our customers from the previous online transactional banking platform to BancOnline, we have epitomised how we are actively evaluating the innovativeness of our products and services to empower customers and become the banking partner of choice,” he said.
The platform could be used to facilitate amongst others managing of business accounts, payment of salaries as well as making of cross border payments.