Mybucks eyes civil servants
MyBucks Banking Corporation has extended its retail products and services to potential customers in the civil service.
The bank is targeting civil servants who were only accessing its lending products through MyBuck’s Microfinance service.
MyBucks Chief Commercial Officer Ernard Mkandawire says in a statement that the bank aims to assist civil servants realise their financial goals and aspirations.
“In line with our strategic intent to make a positive social impact in Malawi, for a long time MyBucks has been a key player in offering civil servants loans without any collateral via our Microfinance division.
“We now no longer want civil servants to watch our seamless and enjoyable digital banking experiences and services from the side-lines, hence we have decided it is time that they get looped in and access all our great financial products,” Mkandawire said.
He said the bank is working towards deepening its activities at the retail end of the business by offering civil servants a one-stop-shop for financial services.
He said the targeted customers would have to open up an account to access loans.
“Civil servants who have been accessing lending products with us from the beginning will now be required to open a bank account through a simplified process and proceed to fill up loan application forms,” he said.
Prior to the development, lenders would access the bank’s microfinance division to collect loans without owning a bank account.
Under the new horizon, customers will be able to access mobile banking services.
Among other things, customers would be able to send money to Airtel Money and Mpamba wallets as well as to other banks’ accounts, Pay MRA taxes and utility bills, buy airtime and check balances and statements.