No More Manual/Paper RTGS For CBZ Customers As The Bank Goes Paperless

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CBZ has joined the bandwagon in stopping the processing of manual or paper RTGS transactions and Internal Transfer Fund requests. Zimbabwean banks are following each other in adopting paperless banking with CBZ, NMB, ZB and Steward Bank stopping manual RTGS transactions.

However, CBZ customers will still be able to do RTGS transactions on CBZ’s mobile app CBZ Touch and its internet banking platform. This is the notice;

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The benefits of this transformation to CBZ are clear; the bank will save costs, improves efficiency and builds up better business intelligence. Business Intelligence (BI) is responsible for enhancing the banking operations like identifying patterns, analyzing connections, addressing and resolving issues in real-time etc.

Although some of these banks are saying that they are going paperless so as to be environmentally friendly, I think it’s just to reduce their operational costs (although the stationary cost is very negligible compared to the bank’s total costs) and collect customer’s data for BI.

NMB

NMB Bank Limited is a registered commercial bank in Zimbabwe. It is the principal subsidiary of NMBZ, a Zimbabwean based investment holding company. The bank was founded in October 1992 by James Mushore and others. The bank's group has a dual listing on the Zimbabwean... Read More About NMB

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