Maravi

Cavmont embarks on tests for advanced banking systems

Cavmont embarks on tests for advanced banking systems
Written by Kabanda Chulu
Friday, September 04, 2009 5:09:42 PM

CAVMONT Capital Bank has embarked on a series of conversion tests to introduce advanced information technology banking systems to reposition itself on the Zambian market.

Explaining the bank’s repositioning theme of ‘Embracing Change’, company acting marketing and communication manager Astrida Kaseba said Cavmont Capital was getting ready to play a significant role on the Zambian financial market.

Kaseba said the repositioning process of the bank started two years ago when the board decided to recapitalise the institution through a rights issue on the Lusaka Stock Exchange (LuSE) that resulted in raising over K15 billion.

She explained that the theme of ‘Embracing Change’ defined the changes that the Zambian financial market was going through and how Cavmont Capital Bank was embracing the changes to better position itself in the Zambian banking sector.

“We are replacing the current IT system, the micro banker which has served us well over the last 10 years. With continued technological advancements, we decided to switch to a more advanced system which is currently being used by our sister banks in Namibia and Botswana,” Kaseba said. “The micro banker, which was also being used by other banks in Zambia, is being phased out by the service providers who have developed a new and more advanced banking system, so last week, we had the first conversion test and we shall soon implement the new banking system in order to offer innovative products and services.”

She said employees were currently being re-trained to keep abreast with the new and ever changing banking environments in areas such as banking technology, innovation, credit risk management, customer service and relationship management, among other skills.

“Lastly, we will look at the market position of the bank and to realign its products and services and to get value proposition to its customers, shareholders and other stakeholders as well as visibility,” said Kaseba.

Labels: BANKING, CAVMONT CAPITAL GROUP

posted by MrK @ 4:12 PM