Exim Bank supports the national financial inclusion program with unique initiatives
Tanzania, a global champion of financial inclusion, is today and the shining example of digital transformation it has become in Africa has not been a one-man show but a concerted effort involving strategic players like Exim Bank. Tanzania.
The lender is not only one of the leading local financial service providers, but also a leader in digital finance whose innovative initiatives have played a central role in addressing the country’s financial exclusion issues.
During its 24 years of serving the national economy and supporting Tanzania’s development vision, Exim Bank has also launched several digital products and transformation solutions that have impacted the creation of an ecosystem of thriving and robust financial technology (fintech).
Moreover, thanks to its unique digital capabilities, the bank continues to contribute significantly to the conduct of the national financial inclusion program whose ultimate objective is to build an inclusive digital economy and, ultimately, to make Tanzania a society without cash.
Senior bank executives say the digital and fintech investments made by Exim Bank are undoubtedly integral to universal access to affordable and honest financial services in the country.
“Universal access and use of a wide range of reasonably priced financial services is possible and happening in Tanzania. At Exim Bank, we are honored to be part of this dream of empowerment and this vision of national development ”, notes Mr. Jaffari Matundu, CEO of the bank.
“Exim Bank offers a full range of products and services designed to meet the needs of retail, corporate and institutional clients. Customer orientation has always been at the heart of everything Exim Bank does, ”Mr. Matundu recently said in Dar es Salaam.
“Our innovation initiatives towards the digital banking space are an integral part of the whole customer experience equation,” he added, addressing reporters on the approach to innovation. Customer centricity of the financial institution, which understands its digital banking and financial services.
Pioneering banking solutions
According to him, Exim Bank has been a pioneer in a number of areas that have made inclusive financial services in the country a reality. The initiatives, he explained, continue to change the way payments, savings, loans and even investment services are delivered at all levels.
The bank has had important disruptive innovations through the deployment of world-class technologies and customer-centric products. It was the first bank to introduce credit cards with the launch of the international MasterCard debit card, Visa Platinum cards, TANAPA debit cards and Visa credit cards in Comoros.
Exim Bank was also the first Tanzanian bank to launch mobile banking apps for smartphones, introduce mobile ATMs (ATMs) and set up an exclusive financing program for women.
Commenting on his role in developing the local fintech space, a senior member of the National Council for Financial Inclusion (NCFI) said the success of Tanzania’s digital transformation and financial inclusion would be incomplete without mentioning the Exim’s support and unequivocal contribution.
National Council for Financial Inclusion
“We recognize and appreciate what they have done and continue to do to promote and support national efforts to include the excluded in the formal regulated financial system,” the NCFI official told The Citizen in an exclusive interview last week. .
According to her, Tanzania’s financial inclusion journey is not a one-man show but a broad-based multisectoral approach, which depends on the commitment and contribution of various stakeholders to make it a success. which involves both the public and private sectors. .
Besides contributing to expanding opportunities for Tanzanians to access and use quality financial services, Exim Bank is also renowned for being the first local financial service provider to establish an overseas banking footprint.
Besides its presence in the regions of Dar es Salaam, Tanga, Morogoro, Kilimanjaro, Arusha, Manyara, Mwanza, Shinyanga, Kigoma, Iringa, Mbeya and Mtwara as well as in Zanzibar, its operations also extend abroad through subsidiaries abroad in Anjouan, Mohéli and Moroni Islands of the Union of the Comoros, Uganda, Republic of Djibouti and Ethiopia through the bank’s operations in Djibouti.
It is an international presence unmatched by any other Tanzanian bank.
“Maliza Kirahisi Kidijitali”
During last year’s Customer Service Week, the bank focused on the efficient use of digital services and promised its customers better fintech solutions for the future.
Its officials said everything will be done as the country strives to catapult financial deepening above current levels of 85% in terms of service accessibility and 65% usage.
As part of this effort, in the middle of last year, Exim Bank launched an enticing mass awareness campaign dubbed ‘Maliza Kirahisi Kidijitali’ to promote financial inclusion and support the evolution of a cashless economy in the country.
Speaking at the marketing blitz launch event, the bank’s head of retail banking, Mr. Andrew Lyimo, said the strategic initiative aims to encourage their customers to embrace a cashless economy that allows them virtually access services and perform digital transactions.
“The campaign aims to transform user behavior and further accelerate the country’s shift from cash to digital payments, especially during the recent Covid-19 pandemic,” Lyimo noted on June 22, 2020.
“This campaign is also part of supporting the government’s vision of promoting a cashless economy in addition to ensuring that our customers are served without having to go to branches,” he added. .
To make transactions more efficient and convenient for customers, Exim Bank offers several options to facilitate transactions that give its digital proposals many advantages over the competition.
These include mobile banking services via USSD or smartphones, a bundle of cards, an extensive point-of-sale (POS) network as well as online banking services via the information superhighway (web) and versatile applications. .
Backed by an extensive point-of-sale network comprising 28 branches across the country, these digital options allow the bank’s customers to access essential financial services anytime, anywhere. This guarantees them the ability to complete any transaction 24 hours a day, seven days a week with ease.
A better tomorrow
Marketing and Communications Officer Mr. Stanley Kafu said the ‘Maliza Kirahisi Kidijitali’ promotion, like the previous cash management solutions awareness campaign, aims to bring innovative financial services within reach of the community. growing customer base of the bank.
“Thanks to our digital services, customers can access their accounts, carry out banking transactions easily from their home or anywhere else and in turn have more time for other important matters in their daily personal or professional life. “, He noted.
The Cash Management Solutions campaign aimed to enable Exim Bank customers to access a multitude of personalized products such as Cash-In-Transit service, Host-to-Host services, Corporate Check Capture service and Cash services. Deposit Machines, among others.
“Exim Bank is still working today for a better future by offering more financial freedom”, explained Mr. Kafu.