BARCLAYS BANK PUMPS IN US$43M IN MOBILE MONEY TECHNOLOGY

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BARCLAYS BANK PUMPS IN US$43M IN MOBILE MONEY TECHNOLOGY

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By Patrick Soko

Barclays Bank Zambia  has invested about forty three million kwacha in technologies that support mobile banking services.

Speaking at the joint MTN and Barclays Bank breakfast meeting in Lusaka, Barclays Bank Zambia Chief Executive Officer Mizinga Melu says the changing landscape of digital banking and mobile telephone is creating unique opportunities in the way and manner customers are served.

She says Zambia needs to digitize financial services to rapidly scale up client acquisition and patronage.

Ms Melu expalined that digital strategy has been committed to ensuring transaction convenience for the market.

She stated that access to finance is the most issue the market is facing, hence the need to partner with MTN and scale up the financial need.

And MTN Zambia chief Executive Office Charles Molapisi says partnership between banks and mobile money operators are fundamental in the mobile money ecosystem.

Mr. Molapisi says MTN currently serve more than one point one million mobile money customers making it the largest mobile money platform in the country.

He says taking financial services to the unbanked is a huge responsibility that requires constant innovations hence the need to partner with Barclays Bank Zambia.

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