500 SCRAMBLE FOR DIGITAL APP

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By BUUMBA CHIMBULU

STANDARD Chartered Bank has registered 500 customers who have opened accounts through the recently launched digital app.

The bank’s head of retail banking for Southern Africa, Deep Pal Singh, said the initiative had so far started showing positive results.

Mr Singh said about 500 customers had opened bank accounts.

He said the digital bank which allowed people to open accounts and access other banking services using their mobile phones had attracted new account holders.

Mr Singh said the development demonstrated the evolution of banking through digitalisation.

Government has developed the National Financial Inclusion Strategy that aims at ensuring universal access to and usage of a broad range of quality and affordable financial products and services. Zambia Information and Communications Technology Authority (ZICTA) director general Patrick Mutimushi, however, said people should secure their personal details in the era of cybercrime.

Mr Mutimushi also said putting in place infrastructure and technology was necessary in accelerating financial inclusion through digital banking.

He said ZICTA had been rolling out communication towers to ensure internet connectivity especially in rural areas.

And Standard Chartered Bank chairperson Caleb Fundanga said there was need to avoid reversing achievements made in digital banking.

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