Zanaco launches mobile banking app, hopes to fully digitalise by 2020

Zanaco has launched its mobile banking application, which it hopes will significantly transform how its over 800,000 customers conduct their banking transactions. The Zanaco banking app is currently available for download on Google Play and App Store.

Zanaco Chief Executive Officer, Henk Mulder said the launch of the app is part of the organisation’s strategy to redefine its business service offerings as it clocks 50 years of existence by 2019. The launch of the app is in response to the customers, who are rapidly moving to demanding convenience and quicker access to their cash.

“The Zanaco Mobile App is a major step towards transforming Zanaco into a digital bank to meet the needs of its customers. Between now and the year 2020, the bulk of banking transactions will be conducted by phone”, said Mulder. “Zanaco has an established reputation as a big, strong and reliable bank and the new strategy will add a fourth pillar of innovation to Zanaco’s DNA”, he added.

Zanaco aims to be the most innovative bank in the next two years leading up to 2019 and the launch of the app is just another value add to the bank’s digital offerings. Mulder further indicated that the banking app will assist in alleviating long queues at Zanaco ATMs as customers can transact on their mobiles. “As a bank which is 25% owned by the Zambian Government, Zanaco has to remain fully responsive in supporting the growth of the Zambian economy by launching more innovative products”, he concluded.

Zanaco Board Chairperson, Charity Lumpa says the bank has taken digitalisation seriously as more businesses are moving to electronic ways of doing things. Zanaco is supporting the Bank of Zambia’s quest for a cash light society.

She also called for improved regulation in the sector that recognises the importance of innovation by being supportive adding that there is need for collaboration between the bank and the regulators.