CBZ Embraces Digital Banking

CBZ Bank has joined its peers in discarding manual or paper transactions and adopting digital banking with all transactions to be carried out online.

The bank has given its customers up to May 31 to register with its digital platforms — “CBZ Touch” and “CBZ Internet Banking” to enable paperless transactions.

By Chronicle Reporter

“CBZ Bank would like to advise its valued clients and all stakeholders that with effect from the 1st of June 2018, all branches will no longer be processing manual/paper RTGS and Internal Transfer requests. All clients will be able to perform the transactions via CBZ Touch, CBZ Internet Banking and Paynet conveniently anytime, anywhere,” said CBZ.

“We, therefore, urge all clients to ensure that they have registered on CBZ Touch, CBZ Internet Banking or Paynet platforms by the 31st of May 2018.”

Last year, the bank launched CBZ Touch app that creates a unique ID, which requires customers to input a pin for use in sending and transferring money or making bill payments. This process is as simple as sending an email as local banks move to embrace the latest tools in mobile banking.

A number of banks have ditched manual transaction for RTGS and chose to go digital in line with global trends.
Last month, Nedbank also made a similar announcement saying from May 11 they will no longer process manual RTGS payments.

In the same month, Standard Chartered Bank launched the first ever digital banking unit in Africa, a milestone meant to harness technological opportunities on the continent.

This post first appeared in The Chronicle

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