ICT Industry News…Online banking powers bank financials

Banks in Botswana are shifting toward engaging available facilities offered through the internet and mobile phone service providers, pioneering platforms where customers can “dodge” long queues in banking halls at the expense of a click of the button.

Major banks in Botswana are taking each other head to head, launching “smarter” services to lure and maintain customers in the wake of ICT boom by offering alternative ways to electronically transfer money, pay services such as television channel subscriptions, water, electricity bills and as well as electronic funds transfers away from the traditional methods.

The trend of “e-services” is significantly gaining ground in Botswana–a middle income country with huge appetite to become ICT Hub in the SADC bloc, with just over 2 million population.

Banks now are closely watching the economic impact the services adds to their financial – – giving them much hope they will cash up through small charges of doing business through mobile networks. First National Bank of Botswana is the first of the banks to confess that ICTs contribute positively towards improved finances.

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