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Mobile banking

mobile banking

Our current mobile services include the following broad categories:

1. Short Message Service (SMS) Alerts: SMS alerts are sent to customers to notify them of transactions occurring, such as cheques clearing or salaries crediting, or impending events, such as when payments fall due. The customer chooses the level of service.

2. SMS Banking: This allows customers to request certain account-related information, such as a balance enquiry or request for a new cheque book, by sending an SMS in a pre-specified format.

3. USSD Banking: This service is only available in African markets. It allows customers to request account information as well as perform financial transactions. The USSD technology is menu driven, easy to use and has a high take up rate.

4. Mobile Browser Based Banking: This service allows customers to access online banking using a browser on a mobile phone. Customers need a mobile phone with a wireless (Wi-Fi) connection or General Packet Radio Service (GPRS) and can perform all online banking functionalities.

The key benefits of mobile banking are:

  • allowing customers to be in touch with their accounts 24/7 and on the go
  • providing superior transactional convenience
  • proactively informing customers of any suspicious transactions on their accounts
  • reducing paper usage

These services have proved very popular. We had close to 1.3 million customers registered for mobile banking services by the end of December.

Mobile banking is especially popular in Africa, where there is limited banking infrastructure and internet penetration is low. We have close to 54,000 customers registered in Africa, who primarily use mobile banking to access account information and transfer funds. At more than 40 per cent, mobile penetration is higher than internet penetration in most African markets.

Report tools

Annual Report and Accounts 2009