POSB completes IT upgrade

By Staff reporter | 18 Dec 2018 at 06:14hrs
THE People's Own Savings Bank (POSB) has upgraded its information technology infrastructure that has resulted in vast improvements in uptime of its systems network, an official said yesterday.

In a speech read on his behalf by the bank's general manager for risk, security and investigations Mr Wibert Fungura at a breakfast reception in Bulawayo, the chief executive officer, Mr Admore Kandlela, said following the upgrade the bank was now more responsive and flexible in rolling out new products and enhancing exisiting ones.

"I am therefore delighted to advise that our future in the digital space is guaranteed as we improve our systems, processes, channels, products and services going forward," said Mr Kandlela. He said the bank was leveraging on technology to improve efficiencies, serve customers better, contain costs as well as achieving the desired goals.

Mr Kandlela commended the bank's customers and other stakeholders for supporting the bank even during difficult times.

"Looking back over the last 12 months, at the various difficulties which we have faced and overcome as a bank, the heights we have scaled as well as the inroads we have made into new frontiers, one can only be appreciative of the support which you our valued stakeholders have rendered to POSB. "For in all honesty, all our milestones would have been very difficult if not impossible to accomplish without you all," said Mr Kandlela.

This year the financial institution undertook an upgrade of its information technology server infrastructure which has seen it registering vast improvements in uptime of the systems network.

Recently, the bank acquired and has since begun the deployment of MPOS (Mobile Point-of-Sale) machines in order to augment existing own POS (Point of Sale), merchant POS and other digital platforms.

"These devices are designed to provide both buyers and sellers with a convenient medium of transacting thus promoting a cash lite society amid the backdrop of the present cash shortages," said Mr Kandlela.

He said during the year his bank has also made deliberate efforts to ensure customers were provided with robust products and services in order to meet and exceed the expectations of clients.

In addition to offering tailored financing solutions for schools through its Schools Development Loan facilities, the bank has entered into a number of memoranda of agreement with different eminent institutions creating platforms through which their members of staff can access POSB loan facilities.

"As I reflect on the year 2018, I would also like to thank our shareholder, the Government, whose support and policy direction is a pivotal component of our strategy and realisation of the bank's objectives.

"On this note, it gives me great pleasure to single out extraordinary 2017 financial performance of the bank where we registered impressive profits for the year 2017 and half year 2018," said Mr Kandlela.



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