Absa digital usage rises 34 percent

The 34 percent growth in digital adoption and usage is an indication that customer preferences are growing towards self-service channels.

Absa digital usage rises 34 percent

Absa Bank Limited says it has enabled its digital platforms for use to customers while giving sizeable discounts on transactional fees at the same time.

According to the bank, this resulted in 34 percent uptick on digital platform usage for the year 2020. The bank also saw a 7 percent increase in total number of customer year on year. Absa MD Keabetswe Pheko-Moshagane says the 34 percent growth in digital adoption and usage is an indication that customer preferences are growing towards self-service channels. This was on the back of launching various platforms such as the Absa Sky Branch which offer a wide range of services through the contact center including account maintenance/ amendments, loan and credit card applications and contactless payments. “We also launched ‘Abby’, (Chat Baking) which allows customers to make enquiries and transact on WhatsApp, and other innovative user-friendly services,” the MD says adding that they also launched an extensive Covid-19 payment relief plan for customers who were negatively impacted by the pandemic as well as a 3 month discount on its digital platforms in order to facilitate banking at the customers comfort and convenience.

Pheko-Moshagane further says the bank’s customers are also able to request for personal loan top ups via “our Internet Banking platform and do not have to visit the branch for this request”. “This is a further testament that our customers are increasingly inclined towards digital platforms.” Furthermore, to support the resumption of economic activities of the informal sector post Covid-19 repercussions, the Retail segment in partnership with Citizen Entrepreneurial Development Agency (CEDA) Letlhabile programme introduced Remmogo Current Account to the beneficiaries of the Informal Sector Stimulation Programme (ISSP).