Nedbank goes live on new banking system

Nedbank Malawi has joined its sister banks in Namibia, Swaziland and Lesotho in successfully implementing the new core banking system together with an upgraded internet banking platform.

This development— which came into effect on Monday—forms part of Nedbank’s overall strategic intent to optimise and invest across its Rest of Africa subsidiaries and Malawi in particular.

“The new banking system will allow Nedbank Malawi to introduce innovative product and service offerings, such as mobile banking, payments and money transfer capabilities,” Paul Guta, Managing Director Nedbank Malawi is quoted in a media statement.

He added that the move will also enable the Bank in Malawi to offer simpler and more transparent pricing, meaning that bank charges will appear in real time reflecting as an individual item per transaction. With this, our clients will also be offered bundled options.

Guta said the successful launch follows months of meticulous planning and extensive work behind the scenes to ensure this seamless transition to the new, technologically advanced operating system.

“With the new system, our client value proposition will be enhanced exponentially, setting us well on our quest to being the most admired bank in our country,” Guta said.

He also hinted that one unique thing about this transition is that customer’s account numbers have not changed; hence, there will be no need to change their ATM cards and cheque books.

“The implementation of the new system was the collaborative effort of Nedbank teams from South Africa and Malawi,” Guta said.

Nedbank Zimbabwe is next in line to move to the new platform, according to the media statement.