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Nedbank focused on COVID 19 countermeasures


NEDBANK Zimbabwe has rolled out several digital enablement technologies in the last quarter including, among others, automated bulk upload for faster account opening in multiples, to counter the impact of the COVID-19 pandemic.


In a letter to clients seen by NewsDay Business, the financial institution’s managing director Sibongile Moyo said while the Covid-19 pandemic has resulted in reduced physical contact with their clients, they were devising new ways of engaging and staying connected with their clients in various locations and via non-traditional channels.

“Looking outward our business and operating model are guided by two main drivers – effectiveness and efficiency. We are geared to understanding the wide-range of client interests that we need to address, and exploring the best ways to meet them,” she said.

“This effort has seen us looking at our product and service offerings, our service delivery channels, and our service-delivery partners. An introspective look at our structures and systems has helped us to assess their suitability under current conditions. We are compelled to re-imagine our fit-for-purpose structure, re-align our methods of working and optimize our assets and processes to preserve value.”

To achieve all these, Moyo said ,there will be a deliberate and greater inclination to the use of digital technology.

She said this will help them attain increased reach, greater efficiency and improved consistency and quality of delivery.

“In our assessment, we will be better able to exploit opportunities that arise. Our technology and business development teams have already rolled out several digital enablement technologies in the last quarter including: online account opening for individual clients via Nedbank website; ATM access for cash withdrawals for Nostro FCA account holders; remote instant issuance of PIN and Debit Cards at countrywide off-site locations; Automated bulk upload for faster account opening in multiples; Bulk payments via Direct Inject solution, and; API Integrations for real-time bulk payments and settlements for our corporate clients,” she said.

She said further initiatives were being explored to ensure the level of service delivery that their clients deserve.

“All these plans are attainable only where there is a dynamic, driven, well-trained and well-capacitated team. To this end, we have placed great emphasis on engaging and understanding our team. Our “staff obsession” is fundamental to our success in fulfilling our mandate, and indeed, our promise to our clients,” she said.

“Yes, the world was brought to a literal standstill by the Covid-19 Pandemic, but we as a bank, took this unexpected negative situation as an opportunity to introspect, revisit the drawing board and strive to deliver on our commitments. We believe we are ready and look forward to continuing to partner you in helping you achieve your personal and organizational financial objectives.”

Moyo assumed the position of the managing director in April this year, taking over from Charity Jinya who stepped down from the top job at Nedbank Zimbabwe in March this year.

She has more than 13 years’ experience in the financial service sector having held executive level positions including leading the integration of a foreign bank acquisition for Ecobank group executive director and head corporate and investment banking at Ecobank Mozambique, head of domestic banking at Ecobank Zimbabwe and head of financial markets.

Prior to joining Nedbank, Moyo was executive director at Altus Venture Capital and general manager at Norton Leaf Tobacco.

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