Ecobank launches banking app in Tanzania

10Feb 2017
Victor Karega
The Guardian
Ecobank launches banking app in Tanzania

ECOBANK Tanzania on Wednesday launched a unified banking app, which is an instant and convenient way of banking via the mobile phone.

Ecobank Mobile App is a first of its kind in the country that allows clients to make and receive payments across Africa, said Ecobank Group CEO Ade Ayeyemi.

The new application enables customers to open a new digital account with no more than a few clicks without paper references. The mobile app, which is expected to greatly boost the cashless economy, also allows the user to link the account to his or her mobile money wallet and do cross transactions

“The Ecobank Mobile App uniquely leverages the power of digital to deliver convenience to consumers. The App gives Ecobank the scale and capacity to achieve its target of attaining a lot of customers in a profitable way,” Ayeyemi said in Dar es Salaam.

According to him, the service opens up huge opportunities for customers allowing them to shop, transact and do business without carrying cash, adding that they would leverage the power of digital to literally put the power at your fingertips.

Ayeyemi pointed out that this would be transformational for Tanzania, adding that with removal of barriers to entry and affordable price points, Ecobank app will empower the consumer to be on the move.

Deputy Finance and Planning Minister, Dr Ashantu Kijaji charged the public to embrace the full potential of digital finance.

“This can provide easy access to a digital wallet that could be utilised for all payment transactions, such as receiving remittances, wages, and government subsidies, making purchases at stores or paying utility bills and school fees,” she said.

Dr Kijaji underscored that through digitisation, Ecobank is able to enhance service delivery besides bringing services closer to users, hence saving costs and time.

According to her, mobile app services will play a key role in bringing onboard the hitherto excluded and underserved segments of the populace, as well as help banks deliver services in affordable, secure and convenient way.

The Deputy Finance Minister said digitisation of financial services takes away the need to stand in queues which saves time, saying consumers are also able to transact on the move or from the comfort of their home through the Internet or their mobile phones.

Managing Director Ecobank Tanzania, Enoch Osei-Safo, said the move can encourage the bank to ensure competitiveness and efficiency in service delivery.

“The unified service allows clients to check their accounts on their mobile phones, pay online bills and transfer money from their accounts to their mobile wallets, file tax returns or pay bills and schools without going to the bank, making transaction faster, safer and more convenient,” said Osei-Safo.

According to him, they continuously look for ways to bring new and innovative products and services to their customers. The need to have access to financial services, when and where their clients want it cannot be overemphasized, he noted.

“So we have now given a new service that meets that demand. Our service will continue to evolve to anticipate their changing needs.”

The Ecobank Mobile App is now available in 33 African countries.

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