ZB Bank to introduce WhatsApp banking

By Staff reporter | 21 Aug 2019 at 17:22hrs
ZB Bank
WhatsApp is evolving from just a mere chit chat messaging platform to one used for basic banking services. Before you will know it, it will be another of the e-banking options your bank will improvise through WhatsApp banking.

Providing services over WhatsApp can increase the likelihood of customer loyalty and engagement due to convenience, trust, and familiarity with the app. Additionally, bank profiles can be verified and messages are end-to-end encrypted so, clients and banks can feel secure using the platform.

"We believe the new offering will complement our existing digital banking channels and offer security along with the simplicity and convenience of instant responses, 24/7," says ZBFH chief executive, Ron Mutandagayi.

"As ZB bank forges ahead with its digitisation agenda, we look forward to progressively expanding our range of WhatsApp-based services."

For you to get started with WhatsApp banking, you just have to add a contact on your phone, initiate a chat, and follow the prompts like you would with cellphone banking.

Mr Mutandagayi also said that the new product whose launch was delayed by the recent policy shifts but currently awaiting the central bank's nod is tailor-made to simplify banking for Zimbabweans in the diaspora.

"The product is divided into a number of areas, one of them being an investment. So if you are in the diaspora and you want to invest in the country, we will be there for you to ensure that your investments are made and are managed.

"The other area is around life sustenance whereby if you have relatives back home, we will ensure that we provide comfort for those relatives.

"Life assurance covers one in the unfortunate event of bereavement where the ZB funeral cover which allows them to bury their relatives decently and education is another area allowing diasporas to cover their relatives back home by sending them to school because we have noted that if you send money to relatives, the chances of the money being abused are very high but financial institution are able to direct such funds to the purposes for which they are meant," he said.

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