HomeBusinessStanbic shuts two more branches

Stanbic shuts two more branches


STANBIC Bank Zimbabwe says it is closing branches in Hwange and Westgate, Harare, in line with its digitisation strategy.


Early this year Stanbic discontinued operations at the Chitungwiza and Beitbridge branches.

“In line with this digitisation journey, Stanbic Bank is set to discontinue its physical operations at Hwange and Westgate branches with effect from December 31, 2020,” the bank said in a statement on Wednesday.

It said customers would continue accessing services on the bank’s various digital banking platforms.

“Stanbic Bank’s digitisation exercise kicked off in earnest last year with the closure of Chitungwiza and Beitbridge branches and the two pending closures will leave the Standard Bank Group subsidiary with 15 branches countrywide down from 19 last year. Our customers can still access self-service digital channels and in-branch services at any of our remaining 15 branches countrywide,” said head of personal and business banking, Patson Mahatchi.

He said accounts currently maintained at Hwange and Westgate branches would be automatically transferred to Victoria Falls and Belgravia branches respectively.
The Belgravia branch is in Harare.

“Our digitisation drive is not only ideal and relevant during the prevailing operating environment in which customers need to stay safe from COVID-19 but is a hallmark of the dictates of new technological advancements. As a bank we have to keep our finger on the pulse of innovation and technological advancement,” he said.

Mahatchi said Stanbic’s digitisation exercise was in line with worldwide technological advancement trends in financial and non-financial institutions aimed at enhancing ease of banking to its customers.

As part of its digitisation strategy Stanbic Bank launched contactless debit cards and POS machines becoming the first financial services institution to introduce this highly secure innovative technology onto the Zimbabwean market.

Apart from the “contactless” debit cards and point of sale machines, the bank stepped up functionality of FCAs on its digital banking platforms in addition to launching a technologically advanced application which allows account holders to pay bills and make in-store purchases on their phone using QR code scanning technology called SlydePay.

“All these products are part of a well thoughtout digitisation strategy which offers convenience to customers and ensures clients are beneficiaries of quality banking technologies,” said Mahatchi.

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