Absa addressing card, cardless services
Absa has announced that its cardless ATM offering, CashSend, has exceeded half a billion rand since its introduction in 2008. On the credit card side, the bank is running the Card Professional programme for the second year, aimed at developing employees' credit card business skills and grooming future leaders for the group.
Twenty selected delegates will develop broader card management skills, build leadership capacity and create a deeper awareness and understanding of the key value drivers of a payment card business during the 2011 programme. "Across the group, our people are critical to the sustainability of our business. How well we equip them will determine our short and long-term success as a business," said Arrie Rautenbach, Absa Card managing executive.
"We are committed to developing and growing our people. The Card Professional programme is one initiative attesting to such. The programme helps us to tackle issues of transformation by widening a pool of talent available to the bank."
In addition, the programme promotes an understanding of international trends and the strategic direction of the cards and payment industries worldwide.
CashSend evolves for business needs
The bank says CashSend transactions have surged to approximately 100 000 transactions each month with about 42% sent via ATMs, 23% from Internet banking and 36% using cellphone banking. Money can be sent and received at any time of the day and night, so transactions are not limited to a bank's opening hours.
Though the service was initially aimed at entry-level banking customers, it is evolving into a holistic payment solution catering for ever more sophisticated needs. To meet this demand, the bank has introduced CashSend Plus, which is aimed at the business sector.
Absa Retail Bank chief executive Gavin Opperman, says, "It will enable small businesses and corporate clients to make bulk payments to many recipients, such as payments to casual or temporary workers."
Opperman believes there are clear benefits for both the business and the customer using the system. The employer does not need to keep large sums of cash on business premises and beneficiaries can withdraw the cash when it is required.
"Financial inclusion and banking the unbanked remains an important focus area for the group. With this product, we have been able to bring banking to the people and now we will also provide convenience to our business banking customers. We will continue to innovate and find solutions for an ever-changing banking market in which customer preferences dictate the rules," he concludes.
