In a public notice to customers yesterday, Ecobank said the move by its local unit to phase out manual or paper-based transactions was part of its regional stance with a view to mitigating errors and increasing branch efficiency resulting in better customer experience.
"Ecobank Zimbabwe Limited wishes to advise all our customers and stakeholders that effective from 2 January 2020, our branches will no longer be processing manual or paper RTGs and internal funds transfer requests," it said.
Paperless banking refers to the use of electronic and telecommunication networks to deliver a wide range of value-added products and services to bank customers. The bank advised its customers to register on their digital platforms such as Ecobank Omni, Ecobank Omni Lite, Ecobank online and Ecobank Mobile App.
The banking institution also urged customers to avoid inconveniences by ensuring registration on the above electronic and digital channels by December 31, 2019. The move by the bank to phase out manual transactions comes at a time when some local financial institutions are also taking a similar route.
Banks such as Standard Chartered Bank went paperless as early as 2017 while other institutions like CBZ, CABS, ZB and FBC to mention a few have followed suit. Ecobank was this year named best retail bank in Africa for 2019 at the prestigious African Banker Awards held in Malabo, Equatorial Guinea.
The awards event was run during the African Development Bank's annual meeting. Ecobank was also nominated for the African Bank of the Year award.
After winning the award, Ecobank said that the judges were especially impressed by its state-of-the-art products, services, functionality and constant innovations, which provide 24/7 convenience, accessibility and affordability to meet the evolving needs and expectations of customers.
