Digitization has bee dubbed as a transact ability solution in disease pandemic era as not only a health safety protocol but for operational resilience purposes in these unfortunate times. Absa Bank Zambia PLC today officially launches NovoFX, a new mobile application with an intuitive interface that allows its internet banking registered users to seamlessly and safely send money to anyone with a bank account anywhere in the world, buy forex or make cross-border payments in over 13 different currencies from a mobile phone. The launch comes barely a week after the newly rebranded bank bagged 5 awards by Global Banking & Finance Review.
Digitization is nothing new with Absa as it has been very pivotal to Zambian digital landscape and financial inclusion through not only huge investments in technology but integration with the Multinational Network Operators – MNOs such as Airtel and MTN proving to the world that banking is not only brick and mortar but can leverage of network availability in the remotest part of Zambia. Absa has invested north of K100mln in technology from February 2020 to date. The Bank continues to position itself as a leading provider of foreign exchange and related investments products through its Global Markets department. This App will further enhance its customers’ experience in forex purchases and sales coupled with competitive rates that Absa offers on the market.
Absa Zambia becomes the second country within its Africa Regional Operations – ARO to successfully launch the interactive App with Botswana being the first on 3 June 2020. The App is available Google PlayStore and Apple iStore. NovoFX App is poised to fundamentally enhance the foreign exchange and cross-border payment experience. Through a simple user interface, users are able to send money abroad or pay for travel on a faster, convenient and secure platform.
Absa Zambia Chief Executive Officer – Mizinga Melu.
“Absa is a forward thinking Bank always looking to enhance the banking experience of our customers. Our ambition is to provide digital banking services that are future fit and provide customers the convenience to transact anytime and anywhere. Launching the NovoFX App speaks to our strategy of being a digitally-led organization to bring our customers’ possibilities to life as we continue to identify ways to meet their diverse needs,” Absa Managing Director Mizinga Melu commented on NovoFX launch.
The Bank has continued to enhance its digital capabilities and has invested more than K100mln in technology as at February 2020. In addition to launching new services, Absa Zambia continues to explore new ways of enhancing its existing product portfolio, she said.
“Over the years, we have taken time to understand the foreign exchange needs of our customers and this revolutionary NovoFX App will enhance our product offering to our customers. In addition to making forex purchases, the App has features that have superfast responsiveness and more than 13 currencies with near real-time rates,” Absa Zambia Head of Global Markets, Stanley Tamele said,
“Launching this App is another step in the Bank’s journey as part of cross border payments capability to capture remittance flows and create a digital ecosystem across Pan Africa,” Tamele added.
The Bank completed its metamorphosis of legal persona from Barclays Plc to Absa Zambia Plc on earlier this year.
The Kwacha Arbitrageur