Yoliswa Dube Features Reporter
REGISTERED commercial bank CBZ Bank Limited has launched an innovative and digital transaction based agency banking distribution channel in the city.

Following the successful launch of the agency banking model in Harare, CBZ Bank in line with its strategy to continuously offer customer convenience has seen the contracting of selected retailers and other reputable commercial entities located in various cities and towns to distribute selected banking and insurance products as well as services to the unbanked and existing customers.

Through agent banking, CBZ Bank seeks to offer customer convenience, increase their geographical footprint, enhance product distribution channels and decongest their banking halls.

CBZ agents will provide online banking services through point of sale terminals.

The model is aimed at bringing fast, convenient and affordable banking services to customers without them necessarily visiting the branch. Agents will offer all or some of the following products and services: opening of SmartCash account, cash deposits and withdrawals through point of sale, balance inquiry and mini statements, sale of Funeral Cash Plan, prepaid electricity token sales through mobile phones, DStv subscription payments, bill payments and third party motor insurance sales.

Fazak Home and Hyper located in Woodlands suburb and Greens Supermarket at 50A Jason Moyo Street, between 3rd and 4th Avenues will now be offering CBZ Bank services in Bulawayo.

More partnerships will be announced in due course.

CBZ Bank Limited is a wholly owned subsidiary of the diversified and listed financial services group CBZ Holdings (CBZH).

CBZH provides a complete range of financial services through various subsidiaries whose activities include banking, short and long term insurance, asset management, and property investments through subsidiaries including CBZ Bank Limited, CBZ Asset Management t/a Datvest, CBZ Insurance, CBZ Life and CBZ Properties.

CBZ Bank Limited, the flagship of the group is a registered commercial bank offering a wide range of innovative banking and financial services solutions to personal and corporate customers through retail banking, corporate and merchant banking, e-banking and card services, mortgage finance, agribusiness, advisory services, investment banking, asset finance, wealth management, treasury, trade finance and international banking as well as custodial services.

CBZ Bank is a member of the Deposit Protection Corporation.

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