RAWBANK has deployed a mix of IBM software and hardware to enable the bank to extend its product and services offering (view press release). A suite of new products include Internet banking, mobile banking, SMS banking and several card-based solutions to service a wider set of customers. RAWBANK clients can receive a text notification on their mobile every time their account is credited or debited. In addition, the bank has introduced prepaid cards to enable small businesses and individuals without a long credit history to pay bills and procure goods.
Thierry Taeymans, RAWBANK CEO, said: “This implementation has allowed us to reach new customers while extending increased security options and improved client satisfaction to our existing customers. In spite of infrastructure challenges in the DRC, this technology allows us to serve our clients faster, with significantly reduced waiting time, and launch a 24 hour customer service hotline.”
RAWBANK aims to deliver new services in order to meet the needs of the large un-banked population of the Democratic Republic of Congo where there are currently estimated to be around 2million banking customers out of a population of 65million.
Jean-Christophe Knoertzer, IBM Central East and West Africa General Manager, said: “Core banking systems are at the heart of driving greater levels of customer service, flexibility and efficiency in today’s banking industry. By modernizing its core systems, RAWBANK is well-positioned to meet the growing market of banking customers in Africa. The IBM solution provides a flexible foundational architecture that can adapt quickly and scale as the bank’s business changes in response to new customer requirements.”
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more