The first bank to establish mobile ATMs in the Tanzania
By Matina Nkurlu, Dar es Salaam
Experts say that liberalized economy brings about competition as opposed by controlled economy which is monopoly based. This is because liberalization encouraged investment locally and from foreign countries hence it is the organizations that face a stiff competition that can sail along.
The situation with the banking sector and other financial institutions is no difference. The stiff competition following the liberalization of the sector has compelled banks to be face competition and their way out is to establish services or products that would motivate their customers.
Exim Bank Tanzania Limited foresaw the importance of establishing a new product, the Mobile Automated Teller Machines (ATMs) to bring its services nearer to the customers, a factor that addresses the challenge for stiff competition.
The service is deployed by the bank at strategic points with big gatherings of people. These places are such as Kariakoo, Buguruni market place, the Ubungo Bus Terminal (UBT) and the Magomeni market place.
Others are Temeke area, the Mwalimu Julius K. Nyerere Trade Fair grounds at Saba Saba, and not forgetting other areas in Dar es Salaam having large gathering of people. It should be agreed that bringing services closer to customers is tremendous, however, precautions are inevitable.
To ensure that mobile ATM services provided by Exim bank are reliable, safe and secure appropriate vehicles are deployed equipped with among other workers, two marketing officers who assist customers get the services they need with efficiency.
Such officers also assist potential customers in their needs such as opening a new account and other services available from the bank. Apart from money withdrawal, Mobile ATM service vans can also enable a customer to know the balance of his/her account.
Apart from the Mobile ATM Service, presently the bank has 30 fixed ATMs country wide all installed at various branches and at strategic points which draw large numbers of people not necessarily near a branch.
As for a short history of the bank, Exim Bank is a locally established and privately owned commercial bank. Operations began in August 1997 as a result of the liberalization of the banking and financial sector in Tanzania. The Bank broke even within its first 5 months of operations, which is a rare occurrence in any banking sector.
Since its inception, Exim has enjoyed year to year growth in profits, assets and deposits. Exim is now ranks among the top ten Banks in Tanzania.
These excellent rates of growth have been achieved through the experience and dedication of the Board of Directors, Management and Staff of Exim Bank coupled with an unwavering focus on customer satisfaction.
Way back in August 2007, the bank celebrated its 10th anniversary, the celebrations that also marked the achievement of the bank.
In terms of the bank’s branch network, Exim Bank started its operations back in 1997 with only one branch that is Dar es Salaam main branch. Today the bank has expanded its branch network to ten fully fledged branches with plans of opening more branches.
These are; in Dar es Salaam: Dar es Salaam main, Clock Tower, Mlimani and Temeke.
Upcountry branches are: Tanga, Mtwara, Arusha, Morogoro, Mwanza and Moshi.
These branches are online connected to one another and are all operating with profits.
The good side of Exim Bank branch network is that all branches are connected by V-SAT communication system which facilitates inter-branch money transfers. Recently, Exim Bank opened a branch in Comoro, known as Exim (Comoros) Limited.
The most recently branch was opened at Namanga area and also along Nyerere Road within Dar es Salaam in the implementation of spreading its wings.
Exim was the first bank in Tanzania to migrate successfully to the Flexcube system, the most versatile banking software in the world. With Flexcube accounts information can be accessed at a touch of a button and accuracy and secured transactions are ensured. The bank is also under SWIFT map to ensure fast international fund transfers.
The primary aim at Exim Bank is to ensure that customers are satisfied with the products and services delivered. Excellence in customer service has grown to become the bank’s trademark. The dedicated Customer Service Team is always ready to help with any queries or problems that customers may have.
Ends.
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