First National Bank (FNB) Tanzania has successfully launched its cellphone banking service from which both domestic and roaming customers can benefit.
The new service supplements some of the bank’s other channels including Automated Teller Machines (ATMs), branches and online banking.
Targeting consumers and SMEs, the new service is available on all types of mobile phones. It is also available across all mobile networks including roaming customers who travel outside the country using local and registered numbers with the bank.
The new banking system represents one of the main results of the FNB strategy. The strategy to consistently look at ways to use technology and innovation to bring convenience and speed to the customers.
FNB has now further optimized and expanded its Mobile Money Transfer (MMT) thanks to the unique Pay2Cell service. This service enables FNB customers to make payments directly into other FNB accounts using only the recipient’s cellphone number. No bank account details are necessary.
In a market where electronic channels are changing the way customers transact, interaction between banks and telecoms are mutually beneficial. Each bring their particular strength to offer up-to-the-minute solutions.
Integrating mobile systems with banking platforms is resulting in one of the best strategies to deliver highly competitive services and is pushing back financial access barriers.
Mobile Money Transfer estimates show that in Tanzania 10 Million additional subscribers will be achieved in the near future. Particularly by reaching the rural population which accounts for 72% of Tanzania’s 45 Million inhabitants.
