- The Bank seeks to minimize the spread of the COVID-19 and improve Customer service
- Productivity is one of the evident benefits resulting from paperless banking
- Keeping paper out of the equation speeds up response times
Harare – Financial institutions are always looking for new ways to make transactions easier and in Zimbabwe the race towards digital banking is rapidly gaining momentum.
State owned agric-financier, Agribank has joined the queue of other banks like FBC, CABS and CBZ in advancing digital transaction platforms. Taking effect from the 1st of October 2020, the Bank said this is part of a comprehensive Paperless initiative and will also minimise the spread of the Coronavirus (COVID-19) and improve Customer service.
Paperless banking encompasses the entire banking institution, from online banking to account management, including account opening.
In a statement, Agribank said that its customers “are set to enjoy 24/7 banking convenience, reduced risk of error, instant execution of transactions and secure banking from the comfort of their homes or office, thereby saving on time and money.”
With the new development, the Bank will eliminate manual services that include over the counter statements, over the counter balance enquiries, RTGS, internal funds transfers and POS Applications.
Therefore, customers are advised to sign up for the following EChannels; Green 365 Internet Banking, Mobile Banking and POS machines.
Benefits of paperless banking
Productivity is one of the evident benefits resulting from paperless banking.
It allows for a seamless and efficient user experience that can reduce the time of a transaction ten-fold as we will see in the next section. This easy functionality of service needs to translate seamlessly from desktop to mobile to tablet as well as to the communications channels, which will need to be multi-channel as some customers still have a requirement to interact on the phone, email, paper, through social media and at times in person.
Additionally, keeping paper out of the equation speeds up response times. Document printing, ink, admin, envelopes and postage are all costly to a business (both in time and money). Improvements with speed of response based on reductions of paper-based workflows can be huge.
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