BancEasy-a microfinance unit of BancABC has launched a digital loan scheme for civil servants as part of the bank’s aggressive digital transformation agenda which commenced last year.
Civil servants will now be able to apply for loans on their mobile phone via the *243# USSD platform in a few minutes, streamlining a process that previously had a 24 to 48-hour turnaround time.
“We are pleased to have reached this digitization milestone which we expect to increase convenience for the hundreds of civil servants we service. These loans are an addition to the current list of BancEasy loans such as pay day and school fees loans. We are also looking forward to offering our nano loans product to all Zimbabweans in the near future,” said BancEasy Managing Director, Arthur Murahwa at the launch of the product.
Requirements for the loans have been eased to just a copy of an Identity card, current pay-slip and proof of employment and the loans are accessible to every civil servant regardless of the institution they are banked.
BancEasy has also unveiled its website to provide customers with information on the its product range and useful financial tools such as a live loan calculator that assists a borrower in calculating monthly repayments and improves financial planning prior to borrowing.
“The ABC Holdings Zimbabwe Group is continuing with its drive to rapidly digitize its products and services to increase convenience to our customers. The launch of the Digital Civil Servant Loans by BancEasy is an example of our commitment to reduce friction in the way customers interact with our services. The digital loan application process will increase convenience to civil servants who previously had to travel to our branches to initiate this process,” said ABC Holdings CEO, Lance Mambondiani.
“Several digital platforms have been launched in the past year under the respective ABC Holdings Zimbabwe subsidiaries. These include Internet banking, WhatsApp Banking and the A360 Mobile App launched under BancABC,” he added.
The Group has been making inroads in offering cutting edge digital solutions to its customers in recent times with its stockbroking unit-ABC Stockbrokers offering services to the C-Trade platform which allows ordinary people to buy shares online.
