Zimbabwe’s regional financial institution Banc ABC is reportedly planning to invest $1.5m to establish a mobile banking platform, which is expected to be operational by end of June this year.
The platform will be centrally linked and will be used by all the branches across the five countries in which the bank operates, reported Zimbabwe Independent.
Banc ABC group COO Ronald Pfende said to BusinessDigest in an interview: "The investment is on technology and will be made between now and June of this year.
"Unlike mobile money, this is mobile banking and will be an internal facility that does not require us to make use of the different mobile phone providers in all the countries in which we operate in."
According to Pfende, the mobile banking platform will allow customers to perform all transactions including card payments, balance enquiry and other value added services as part of the company’s growth strategy.