Nedbank launches Money App Africa

MASERU – NEDBANK Lesotho has launched a mobile banking platform that offers clients an intimate interaction with services. Money App Africa, launched on Monday, is another step by the bank towards enhancing customer experience through the development of innovative products that clients can use at their own convenient time.
Speaking at the launch, the CEO of Nedbank, Nkau Matete, stated that Money App is an upgrade from the existing app, which will be phased out in the next three months.
Matete explained that the app takes advantage of software already available on mobile phone app stores, doubling user experience.

“It is compatible with smartphones and uses an available application within the phone,” Matete said.
“For example, it will require a fingerprint for access if the phone has that feature,” he said.
Matete stated that the app is designed in a manner that gives clients control of and access not only to their accounts but to self-service concerning their bank cards.

He explained that beyond arranging account features in a dashboard form, the app allows one to freeze or block their cards upon suspicion of loss or misplacement. “Sometimes you are not sure if you lost or misplaced your card and fear it getting into the wrong hands and using it,” he said.

“This app allows one to freeze their card, disabling any form of transactions from taking place and after you find it you can unfreeze it.”

However in cases of theft or loss that has resulted in blocking the card, one will have to visit the bank’s branch to apply for a new card.

Projects Manager at Nedbank, Lucas Ntakha, added that the app allows users to schedule transactions according to the frequency at which they are made.

“It can be utility bills, allowances or premiums that one makes weekly or monthly,” Ntakha said.
He said for travelling purposes, clients can notify the bank about their travelling schedules without going to the bank to activate their cards for international transactions.

The app is also able to give users estimates for loans and full details relating to their loans or accounts.
To enjoy these facilities, one needs to first open an account with Nedbank Lesotho before being activated.
“This is done to protect clients’ information in the wake of cybercrimes,” Ntakha said.

“Those without accounts can download the app but will still need to go to the bank to gain access to use the app. The app can be downloaded from Google Play or Apple Store depending on the type of phone a client has.”
Those still using the old app will be given three months to transition to the new, improved system.

Lemohang Rakotsoane