NMB launches 5 new products via its Connect app

NMB Bank has been teasing something big, especially towards the tail-end of last week. We have been very curious as to what NMB was launching via its Connect app and well… we found out during the launch event that was held a short while ago.

NMB has lauched 5 new products (well 1 of them we had already seen) and of those five, two of them were “hype-worthy”.

Virtual branch (NMB going Paperless)

This is one of the two really noteworthy products that NMB launched this evening. Basically, the virtual Branch allows you to do transactions that you would otherwise need to go to the bank to do completely. With the Virtual Branch via the NMB Connect app, you can now order a withdrawal and only have to visit the branch in order to do the pick-up.

You can also set a third party to drop off the money for you for a deposit as well as pick up a withdrawal. All you’ll need to do is enter the person’s detail, confirm and you are done. This is an interesting product and I think it will make things a little easier for NMB customers. What I am not sure of, on the other hand, is what impact this will have on queues.

Through the NMB Virtual Branch, you can also do other payments like ZIMRA, school fees payments, pay for DStv and more.

*241# Account opening

This is something that we have covered before. NMB allows anyone to open a lite account. I opened one myself and the process was a pretty quick process. All you need to do is enter basic details and you’ll be able to transact.

These kind of accounts are pretty good especially when it comes to those who don’t have access to a bank branch in their area. Once you’ve opened an account you’ll then need to deposit ZWL$100 through EcoCash or via Zipit and you’re all set.

New NMB customers will still need to collect their cards at a branch. You can do this at your leisure (I say this because I haven’t collected my card yet) but in the meantime, you pay for services, as well as send and receive money.

Full KYC account opening through NMB Connect

Opening a full KYC account remotely is the holy grail of banking these days. This was the limitation with *241# lite account opening that NMB launched and it’s good to see they have rectified this.

Now you can open a full KYC current account through the NMB Connect application. NMB is however doing it a little differently than FBC. Customers will still have to complete KYC requirements but they can upload the documents via the NMB Connect app.

This is a little mobile data sensitive but I think is a good addition and the last of the two big things revealed by NMB.

Automatic loans

NMB bank has included loan applications through its *241# USSD. In these days credit is king it’s good to see that NMB is conscious of this. The service is going launch intially for Civil Servants and will be expanded to other segments later.

There were no terms stated in the launch video but I think this is a really good addition.

NMB Facebook Chatbot

Chatbots are all the rage these days and NMB are jumping on the trend with the launch of SERA (Service Excellence Respresentative Assistant). SERA will help NMB automate some of the customer service features and will allow only those that need human contact to be given the appropriate attention.

All in all, this is a pretty good lineup from NMB Bank. You can watch the full launch event with the link below: