I&M Bank eyes to be East African ‘strongest player’

What you need to know:

East African banks are improving their service delivery through technology as they expand footprints to tap markets in the region. I&M is one of the banks eying to strengthen their regional presence and performance. The bank’s chief executive officer Baseer Mohamed shared business trends in this interview with The Citizen’s Bernard James.

What we did is that we have invested in … Technology. We are going to announce the expanded network as BoT has approved us for agency banking. We are going to have agency banking and we are going to implement a lot of digital banking solutions. Strategically, we don’t want to have physical branches. It is a huge capital cost. What the customer want is the solution. If I am a farmer in Mbeya or a small trader, the question is: can I get the bank’s facilities from Dar es Salaam? It is now going to be possible. We have got the technology platform. For example, we have just introduced the Loans digital Lending Product. With this product, if you are an Airtel customer and you want to do some purchase or want some money, you can do that through a mobile message. We have collaboration with telcos to provide digital lending.

I&M Bank eyes to be East African ‘strongest player’

What you need to know:

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