National Bank of Malawi and Telekoms Network Limited (TNM) on Friday forged partnership through which customers of the two companies will be able to transact on mobile banking platform Mo626 sand TNM Mpamba mobile money service.
National Bank of Malawi head of Cards and E- Banking Division William Kaunda said the innovation defines good customer services, adding it will help to improve service delivery for both companies.
“This marks another milestone in banking sector; we can’t walk alone in this technological time, and we need coordination and partnership with similar services to improve lives of our customers,” said Kaunda.
Kaunda added that the partnership will reduce incidents of fraud as people will be transacting money electronically through the new arrangement.
TNM Chief Sales and Marketing Officer Daniel Makata said the innovation will cut costs of doing business.
“Through this new arrangement TNM Mpamba customers will be able to transfer money from National Bank accounts within the comfort of their homes; this is what we want to achieve to cut cost of doing business.
“We have improved our network to ensure our customers have improved services in the digital era,” he added.
Meanwhile, National Bank of Malawi has dispelled social media reports that the Mo626 service had been hacked. The bank said there strong measures to secure the services, assuring the system is intact.
“We have clocked ten years with Mo626 and we have a robust system to secure our services nobody can hack our system that is not true,” Wilkins Mijiga, National Bank’s Head of Strategy, Marketing and Corporate Affairs, said.
He clarified that some people tried to swap phone numbers of their customers but said the issue had been resolved.
Mijiga said NBM system has so many firewalls that protect the platform [Mo626] as well as other systems of the bank.Follow and Subscribe Nyasa TV :