Saturday, 20 April 2024
- Published on 5 November 2020
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Absa Bank Mauritius wins Best Retail Bank in Mauritius Award for providing innovative payment options to customers 2020
- The bank implemented an instant payment system and facilities
- It focused on creating long-term banking relationship built on trust
- The bank saw a significant reduction in customer complaints and an increase in cross selling opportunities
5 November 2020, Singapore— Absa Bank Mauritius received the award for Best Retail Bank in Mauritius at the Middle East and Africa Regional Awards Virtual Ceremony 2020 presented by The Asian Banker.
The bank implemented an instant payment system and facilities
Absa Bank Mauritius completed its integration into the Mauritius instant payment system (MIPS). It enabled customers to have instant payment facilities with merchants and peers for low value payments at a reduced cost. During COVID-19 lockdown, the bank’s customers had access to additional mobile payment facilities by registering their Absa account on the National Telephony Company e-wallet at no charge. As a result, 323 customers have used the platform to perform 726 transactionssince its launch in April 2020.
It focused on creating long-term banking relationship built on trust
Absa Bank Mauritius shifted from a traditional sales model to a new customer service model.This new model has been implemented to address the premier relationship manager unavailability issue highlighted in past customer experience surveys. Through the new model, the bank’s customer engagement increased. The bank’s assessed and approved credit dossier also increased on a monthly basis in 2019 compared to 2018.
The bank saw a significant reduction in customer complaints and an increase in cross selling opportunities
Absa Bank Mauritius witnessed a better customer experience feedback through a net promoter score (NPS) survey. The results were encouraging as it showed growth in the number of referrals from existing clients. The survey also showed a significant reduction in complaints pertaining to customer experience while cross selling opportunities significantly increased.
About The Asian Banker International
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
You may visit the Excellence in Retail Financial Services page at http://awards.asianbankerforums.com/retailfinancial/
For further information, you may get in touch with:
Mr. Mobasher Zein Kazmi
Head of Research
Tel: (+61) 452 514 145
