Subscribe & Follow

Advertise your job vacancies

International recognition for Absa

13 Nov 2009

At the 2009 Banking Technology Awards, held on 5 November 2009 at Grosvenor House Hotel London, Absa was the winner of 'The Most Innovative use of IT'. This follows its award in Istanbul by African Banker magazine of ‘Most Innovative Bank in Africa.'

It won the Banking Technology Award for its multi-channel CashSend offering the first cardless ATM service of its kind to be successfully developed on the African continent. CashSend allows Absa clients to send money to anyone in South Africa, banked or not, provided they have a cellphone number.

"Two awards in succession is a testament to the progressive work we've been doing," says chief executive Maria Ramos. "We've focused significant energy on developing innovative products and services across all spheres of our business. It is critical that financial institutions remain at pace with technology and at times even over achieve on current thinking."

Ramos adds that award-winning innovations such as CashSend will play an increasingly significant role, in particular among the country's unbanked.

Since its launch in August, it has gained substantial traction in the market, recording strong growth in usage. So far thousands of the bank's clients have enjoyed its convenience, making transactions of over R100 million.