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AfricaMoney | May 4, 2017

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African Banker nominates AfrAsia for ‘innovation in banking in Africa’ award

African Banker nominates AfrAsia for ‘innovation in banking in Africa’ award

Its continual commitment towards offering a unique service to customers is one of the elements that made way for Mauritian financial services major AfrAsia Bank to be nominated in the 9th edition of the African Banker Awards under the prestigious ‘innovation in banking in Africa’ category. (Image: Company )

Today, while personal service and convenience continue to make-up critical factors in a banking relationship, but these are defined differently since clients want to bank with a financial institution they know and one which knows them, while expecting fast, efficient, and accurate service.

At the 9th edition of the African Bankers Award, which is one of the most prestigious events in Africa’s banking and finance sector, AfrAsia Bank has been nominated for Innovation in banking in Africa.

The African Banker Awards are designed to recognise significant improvements, increasing transformation, integration and expansion of Africa’s banking and financial sector.

The awards methodology for the category of ‘Innovation in Banking’ included questions assessing the African bank which has brought the most innovative practices to the industry, evolving business models, high quality and affordable products and services, faster and more inclusive access to financial services for customers as well as improved security and reliability of transaction services.

James Benoit, the CEO of AfrAsia Bank, stated that, “To be nominated for this award is a great privilege. As part of upholding our ‘bank different’ approach, we continually strive to bring our clients and the industry the most innovative practices through the use of technology. And to be recognised for our continued hard work is a tremendous achievement.”

He also stressed that, “Globally, banks are on a race to find technological solutions that meet the challenges of a rapidly-changing environment. Players who have the ability and agility to invest in and leverage innovation across channels will not only succeed but also dominate in the highly competitive financial services market.”

The delivery of banking products and services through advances in technology have resulted in services being more convenient and effective than ever before. Today, customer loyalty is increasingly determined by convenient and innovative delivery of products and personalised services.

A bank that embraces constantly evolving technology and provides customers with convenience to do their banking when they want and where they want, coupled with quality customer service will stand-out as a market leader.

It is to be noted that AfrAsia Bank stood out through its innovative banking solutions with its bespoke product EUR/MUR Booster Forward.  This innovative product helped in differentiating the bank from competition as it is not an off-the-shelf product that can be found on any FX trading platform.

To conclude, James Benoit said, “There is no doubt that this nomination shows our unremitting commitment in providing a distinctive customer experience. It has also validated what we are doing in this industry and in growing our presence locally, on the African continent and globally.”


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