New banking product for businesswomen
Bank Windhoek has launched a new product offering that focuses on investment in women-owned businesses.
NDAMA NAKASHOLE
Dubbed 'Women in Business', the offering was launched at the bank's headquarters in Windhoek on Wednesday evening.
Women in Business customers will have access to both a personal current account and a business current account.
The bank's head of sales, Riaan van Rooyen, whose department will oversee the implementation of the new product, said some of the features of the personal current account include a specially designed Women in Business Visa debit card and free monthly access to internet banking, the bank's mobile app and cellphone banking.
Others include free life insurance cover, access to wills and estate planning and free basic travel insurance when buying plane tickets with the card.
Clients also have a choice of a bundled fee option or pay-as-you-go for banking charges.
Business side
The business current account is used for transactional banking. It allows access to internet banking and bureau services such as bulk electronic fund transfers and salary payments, access to business insurance, point-of-sale devices, access to savings and investments, as well as opportunities to connect with a network of women in business.
Unique purse
The new product offering will also offer a Savings Purse feature.
“This feature allows you to save to one or more savings purses and you can name each of them according to your goals, instead of having one big savings account and battling to keep track of how much you have put away for whatever you are saving for,” said Van Rooyen.
He said with the Savings Purse, customers will know exactly what they have saved for, whether it is school fees for January 2019 or a holiday, because they will have a savings purse dedicated to just that goal.
“Transferring to these savings purses from your personal or business current account is easy, immediate and efficient, using our electronic channels,” he added.
Customer experience
Ryan Geyser, the Capricorn Group's chief customer officer, said since customer experience goes beyond just products and services, how these products and services are delivered was a key consideration when the bank first had the idea for the new offering.
“So in ideating this offering, instead of trying to figure out what would make a difference by ourselves, we asked the women in business in Namibia,” he said.
According to him, the bank ran focus groups in the central region, in the north and at the coast, talking to women who had business interests in diverse sectors, including wholesale and trade, law and construction and financial services.
Some of the key insights of the research included a strong move towards using digital channels, the importance of a single point of contact for personal and business banking, and the option of a bundled monthly fee.
“We have taken these insights and we have designed an offering that responds to these needs,” he said.
Bank Windhoek MD Baronice Hans quoted a World Bank report that 30 to 37% of SMEs have female owners.
“As a proud member of the Capricorn Group, Bank Windhoek takes women in business seriously and their need for a loyal, engaged, attentive banking partner is heard,” she said.
At the same event, Bank Windhoek customer Claudia Mbura spoke of how the bank helped her when she had nothing, and now she is apparently a millionaire who is raking in some of the country's biggest catering tenders nationwide.
Dubbed 'Women in Business', the offering was launched at the bank's headquarters in Windhoek on Wednesday evening.
Women in Business customers will have access to both a personal current account and a business current account.
The bank's head of sales, Riaan van Rooyen, whose department will oversee the implementation of the new product, said some of the features of the personal current account include a specially designed Women in Business Visa debit card and free monthly access to internet banking, the bank's mobile app and cellphone banking.
Others include free life insurance cover, access to wills and estate planning and free basic travel insurance when buying plane tickets with the card.
Clients also have a choice of a bundled fee option or pay-as-you-go for banking charges.
Business side
The business current account is used for transactional banking. It allows access to internet banking and bureau services such as bulk electronic fund transfers and salary payments, access to business insurance, point-of-sale devices, access to savings and investments, as well as opportunities to connect with a network of women in business.
Unique purse
The new product offering will also offer a Savings Purse feature.
“This feature allows you to save to one or more savings purses and you can name each of them according to your goals, instead of having one big savings account and battling to keep track of how much you have put away for whatever you are saving for,” said Van Rooyen.
He said with the Savings Purse, customers will know exactly what they have saved for, whether it is school fees for January 2019 or a holiday, because they will have a savings purse dedicated to just that goal.
“Transferring to these savings purses from your personal or business current account is easy, immediate and efficient, using our electronic channels,” he added.
Customer experience
Ryan Geyser, the Capricorn Group's chief customer officer, said since customer experience goes beyond just products and services, how these products and services are delivered was a key consideration when the bank first had the idea for the new offering.
“So in ideating this offering, instead of trying to figure out what would make a difference by ourselves, we asked the women in business in Namibia,” he said.
According to him, the bank ran focus groups in the central region, in the north and at the coast, talking to women who had business interests in diverse sectors, including wholesale and trade, law and construction and financial services.
Some of the key insights of the research included a strong move towards using digital channels, the importance of a single point of contact for personal and business banking, and the option of a bundled monthly fee.
“We have taken these insights and we have designed an offering that responds to these needs,” he said.
Bank Windhoek MD Baronice Hans quoted a World Bank report that 30 to 37% of SMEs have female owners.
“As a proud member of the Capricorn Group, Bank Windhoek takes women in business seriously and their need for a loyal, engaged, attentive banking partner is heard,” she said.
At the same event, Bank Windhoek customer Claudia Mbura spoke of how the bank helped her when she had nothing, and now she is apparently a millionaire who is raking in some of the country's biggest catering tenders nationwide.
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