Banking sector needs digital awareness, says Stanbic Bank

Stanbic BankIn 2014, Stanbic Bank had launched the point-of-sale (POS) service to help customers with cash management skills. (Image source: Ken/Flickr)Zambian banks should promote the use of digital platforms to make banking experience simpler and easier, stated Stanbic Bank

According to the bank, there is a need to increase awareness of digital technologies such as mobile banking, Internet banking and online payment of tax in the southern African country.

Helen Lubamba, acting head of corporate investment banking at Stanbic Bank, said, “The online tax payment solution will enable banks provide their customers with faster and easier access to payment platforms. It will make the clearing of goods and services much faster, efficient, secure and cost-effective.”

Lubamba added that the e-tax payment system has continued to show stability and user confidence is improving everyday. “Transaction volumes have continued to increase as clients get accustomed to the e-tax payment platform. The number of clients taking up the e-tax payment system has continued to grow as clients get a better feel of the system. We expect more system stability with the planned enhancement by both the Zambia Revenue Authority (ZRA) and the bank,’’ she noted.

In 2015, Stanbic Bank expects to attract more clients considering that the bank is also launching domestic tax payment platform in the country.

By Nawa Mutumweno

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