Absa, South Africa’s largest retail bank with more than seven million customers, has announced that it will invest R302-million over the next financial year (ending March next year) in customer access points that will enable the bank to position itself for growth while enhancing the customer experience.
Said Juliette du Preez, managing executive, Absa group delivery channel services: “We are serious about providing solutions that increase access to banking products and services for the whole of South Africa.
“Our ATMs [automated teller machines] and new portable branches will help us to do this, but they are only one element of our expansion plans.”
The investment will be split across all channels, with the majority being invested in the branch network to ensure access to banking services in both rural and metropolitan areas.
“Given that than 95% of customer experiences are realised through delivery channels, access solutions are key components of matching the customer expectation to the customer experience,” she said.
She also emphasised the importance of skills development of staff to ensure the successful deployment of the investment in technology.
Over the past financial year, Absa has recorded exceptional growth in transaction volumes, with ATMs achieving in excess of 370-million transactions, while revenue growth on the home-loans service line in the Absa contact centre exceeded R440-million in March this year.
As the market leader in internet and cellphone banking, the number of registered customers ended the financial year at an all-time high of more than 530 000 and 52 000 respectively.
In the branch network, Absa will be looking to continue its approach of innovative delivery.
In March this year, it launched the first fully functional portable branch in Diepkloof, Soweto. The community response has been remarkable and Absa looks forward to further successes with its portable units.
The new financial year will see a further 53 branches and 400 ATMs deployed in rural and metropolitan areas.
“As part of our creative alliance programme, we are working closely with Vodacom to provide a mobile banking solution to narrow the gap in the digital divide by using cellphone technology as a customer access point.
“Innovation also forms part of the focus of this alliance and we are now starting to investigate new mobile technology that will revolutionise the way we view customer access via mobile communications.”
In terms of enhancing customer experience, Du Preez, who chairs the group’s customer experience and delivery council, said: “Our focus is on entrenching a service culture among our staff that exceeds the expectations of our customers.
“Customer experience is our sustainable differentiator and with the investment in customer touch points in this financial year, we are certain to continue to delight our customers while maintaining our dominant position as leader in the retail financial market.” — I-Net Bridge