Barclays Bank Zambia recognised for integrating core system with customer portals as it wins Best Cash Management Bank in Zambia at The Asian Banker Middle East and Africa Risk Management and Transaction Awards 2019
- Functional enhancements of the cash management platform drove the growth of cash business
- Provision of real time solutions enhancing customer experience
- Payments solution leveraging on mobile technologies
Dubai, 7 November 2019 – Barclays Bank Zambia received the award for Best Cash Management Bank in Zambia at The Asian Banker Middle East Risk Management and Transaction Awards 2019. The awards ceremony was held in conjunction with the International Finance Summit at Conrad Dubai.
From left: Nick Dove, International Resource Director, The Asian Banker; Clement Kasalu, Transaction Banking, Absa; Mobasher Zein Kazmi, Head of Research, The Asian Banker
Functional enhancements of the cash management platform drove the growth of cash business
Continued investment in functional enhancement of service channels, in order to meet industry requirements, drove the growth in Barclays Bank Zambia’s cash business. In 2018, the bank grew their operating deposits by 35% and transaction value by 22%. Barclays Bank launched Zambia’s first ever intelligent ATM (i-ATM) with deposit-taking capabilities giving immediate value and cash back on POS machines in selected supermarkets and Zambia’s first Kwacha Credit Card.
Provision of real time solutions enhancing customer experience
In the year under review, Barclays Bank Zambia also introduced real time processing of all SWIFT payments. This solution allows quick clearing of SWIFT transactions, giving them same day value. In addition, the bank provided a real time depositor solution that allows customers access to their funds 24/7 that are stored in secure depositor machines. Barclays Bank Zambia is the only bank in the country that has enhanced the solution to auto update customer's accounts upon deposit.
Payments solution leveraging on mobile technologies
Barclays Bank Zambia was the first bank in the country to launch a mobile bulk disbursement payment solution, which leverages on mobile technologies. This enables the bank to facilitate payments to the unbanked beneficiaries in the country. The bank integrated the capabilities of Mobile Network Operators (MNOs) onto their online banking platform to develop mobile bulk disbursement. Thus, by integrating their systems with that of their customer, Barclays Bank Zambia was able to support their clients with large volumes of transactions.
About the programme
The Middle East and Africa Risk Management and Transaction Awards Programme is designed to identify emerging best practices and outstanding achievements of the best-run risk management teams and evaluate their achievements in cash management, payments, and trade finance business. Taking on an audit-based approach from 2018, the recipients of these awards were determined through a combination of surveys, interviews and field research by The Asian Banker’s research staff.
To know more about the programme, visit http://www.asianbankerawards.com/Middle-East-and-Africa-Awards/awards.php.
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About The Asian Banker
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com.
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