BARCLAYS Bank Tanzania's customers can now access their accounts using smart phones and iPods, thanks to technological advancement that has helped to improve customer services.
The bank introduces Premier Banking that among other features has internet banking to enable customers to get services via smart phone and iPods. Unveiling the Premier Banking, Barclays Consumer Banking Director East and West Africa Zahid Mustafa said to qualify for the new product, one has to have a minimum deposit of 30,000 UK pounds (about 75m/-).
"Each (premier banking) customer will be allocated a relationship manager to manage their financial requirements on top of using banking facilities to conduct their business," Mr Mustafa, who resides in Dar es Salaam, said.To access one account, the bank has introduced one-time password (OTP), a system that improves security.
"One can only access his account after entering a pin code sent to his mobile-phone. This is high security option in the market and the first in the country," Mr Mustafa said yesterday during the launch. The Director said the bank is not counting the outcome basing on the number of customers managed to join the initiative rather on basis of relationship balance between the bank and its clients.
The initiative offers a range of products including free account maintenance fee, SMS alerts, monthly e-statement, international debit card, and counter transactions. "This premier banking makes your money work harder for you...client can also demand products that reflects his/her status in life," Mr Mustafa said during the launching of the initiative.
Barclays' Head of Affluent Segment Consumer Banking, Ms Neema Rwehumbiza said Premier banking customers can apply for unsecure loans of up to 70m/- payable in six years.She said: "The initiative is an elite banking proposition for affluent individuals, which offers a highly personalized approach to banking...simply is a free banking product. Customers who meet the liability eligibility requirement will enjoy Premier services."
Barclays Bank, which re-entered the market in 2000 after it was nationalised in 1967, has over 110,000 customers served in 22 branches, and 41 ATMs located countrywide.