Welcome!

News Feed Item

CRDB Bank Excels With Agency Banking Services With the Support of CR2's POS Solution Across Tanzania

DAR ES SALAAM, Tanzania and DUBLIN, March 5, 2014 /PRNewswire/ --

Established in 1996, CRDB Bank Plc has flourished over the years to earn the reputation of a leading bank in Tanzania with a network of over 100 branches and 310 ATMs. CRDB Bank continuously looks for ways to innovate and cement its reputation nationally as a premier bank that holds an affinity for innovation. Primarily challenged with dispersed bank branch networks and weak infrastructure, only a reported 12% of the 40 million population in Tanzania can avail of services from banking institutions.Via agency banking, CRDB Bank was a first mover in the space and identified a unique way to overcome this widespread issue in order to reach a huge proportion of unbanked segments.

CRDB Bank has named its agency banking scheme in Swahili as 'FahariHuduma'. In a nutshell, the agency banking business model comprises of a network of agents contracted by a bank to administer a set of selected banking services in areas where the Bank is not already present, on their behalf. Agents are compensated on a per transaction/commission basis. On the customer side, to sign up - upon verification of a manual application form, they are enrolled and issued with a Faharicard (a pre-paid VISA/MasterCard) and starter pack. Upon receiving this card, the customer is then able to set their customised PIN and can immediately deposit cash and undertake transactions.

CRDB Bank's Chief Executive Officer - Dr. Charles Kimei reported, "Our target is to grow the Bank into a financial giant in East and Central Africa. With agency banking services we are fostering strong relationships with native financial institutions in an effort to better serve our national population. We look forward to bringing Tanzania further along the road of economic prosperity via advanced banking service offerings and will eventually look to countries in our neighbouring region in order to replicate this successful model."

CRDB Bank has utilised POS capabilities via the CR2's self-service banking platform to support a fully functioning agency banking network utilising GPRS and Ethernet technologies. POS is an effective way to serve customers where internet connectivity is limited and branches are not widespread. It remains a secure means to transact due to PIN protection. CRDB can manage their entire client relationship through CR2's platform enabling great customer service and consistency of offering across their distribution network. CRDB has reported their agency banking scheme has been met with strong adoption and growth rates thus far.

Transactions available through agents include - cash withdrawal, cash deposit, cardless deposits (via Simbanking), bill payment, balance enquiry and forced PIN change. The Tanzania Postal Corporation (TPC) for example is a well-known agency partner of CRDB Bank within Tanzania. TPC has in the region of 200 branches and an estimated 25 ATMs thus providing considerable reach to a number of customers that CRDB Bank may not have otherwise have had the opportunity to serve.

CR2 are delighted with the success of this project with CRDB Bank and look forward to supporting the Bank in their next frontier of growth. CR2 have proposed streamlining the customer acquisition process further via account creation with use of CR2 BankWorld solution capabilities. Other innovative services from the Irish software provider that are being explored to complement their existing solution include; mobile to mobile payment services and an electronic voucher remittance system where clients can send money to recipients which will made immediately available at the bank's entire ATM network. These will support growing customer enrolment numbers, and would also offer a cost effective solution for the Bank and customers alike.

Martin Dolan, Chief Executive Officer, CR2, mentioned, "We are delighted to strengthen our relationship with CRDB and support them in the realisation of their self-service vision for Tanzania."

About CR2

Headquartered in Ireland, CR2 is a leading multichannel banking software provider with a focus on innovation. CR2's BankWorld is a comprehensive suite of integrated self-service solutions including an integrated multichannel platform, ATM & Kiosk banking, Internet & Mobile banking solutions, POS as well as a powerful card management system. Today CR2 has more than 110 implementations across 60 countries. http://www.cr2.com

 

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Twistlock, the leading provider of cloud container security solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Twistlock is the industry's first enterprise security suite for container security. Twistlock's technology addresses risks on the host and within the application of the container, enabling enterprises to consistently enforce security policies, monitor...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
Quickly find the root cause of complex database problems slowing down your applications. Up to 88% of all application performance issues are related to the database. DPA’s unique response time analysis shows you exactly what needs fixing - in four clicks or less. Optimize performance anywhere. Database Performance Analyzer monitors on-premises, on VMware®, and in the Cloud, including Amazon® AWS and Azure™ virtual machines.
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busin...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
@ThingsExpo has been named the Most Influential ‘Smart Cities - IIoT' Account and @BigDataExpo has been named fourteenth by Right Relevance (RR), which provides curated information and intelligence on approximately 50,000 topics. In addition, Right Relevance provides an Insights offering that combines the above Topics and Influencers information with real time conversations to provide actionable intelligence with visualizations to enable decision making. The Insights service is applicable to eve...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.