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
Information technology (IT) advances are transforming the way we innovate in business, thereby disrupting the old guard and their predictable status-quo. It’s creating global market turbulence. Industries are converging, and new opportunities and threats are emerging, like never before. So, how are savvy chief information officers (CIOs) leading this transition? Back in 2015, the IBM Institute for Business Value conducted a market study that included the findings from over 1,800 CIO interviews ...
Virtualization over the past years has become a key strategy for IT to acquire multi-tenancy, increase utilization, develop elasticity and improve security. And virtual machines (VMs) are quickly becoming a main vehicle for developing and deploying applications. The introduction of containers seems to be bringing another and perhaps overlapped solution for achieving the same above-mentioned benefits. Are a container and a virtual machine fundamentally the same or different? And how? Is one techn...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, will present an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He will expound on the industry issues he frequently came up against as an analyst, and...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
The financial services market is one of the most data-driven industries in the world, yet it’s bogged down by legacy CPU technologies that simply can’t keep up with the task of querying and visualizing billions of records. In his session at 20th Cloud Expo, Jared Parker, Director of Financial Services at Kinetica, will discuss how the advent of advanced in-database analytics on the GPU makes it possible to run sophisticated data science workloads on the same database that is housing the rich inf...
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, represent...
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
SYS-CON Events announced today that Ocean9will 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. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle.