By Muloyi Magenge
National Bank of Malawi (NBM) has become the sixth Malawian bank to integrate its electronic banking service, MO626 ice platform, with Airtel money service in spirited efforts to reach out to more people with banking services.
Airtel and NBM announced their partnership at the country’s leading mobile phone operator’s headquarters in Lilongwe in a move that has excited customers of the two service providers.
Head of Airtel Money Chris Sukasuka said the innovation brings more financial freedom and convenience to their customers
60 percent of Malawians have no access to banking, but prefer to transact their money through mobile phone money services, enabling users of the two services to transfer and transact their money interchangeably in a convenient manner using the laid down procedures.
“We have always looked forward to expanding our Airtel Money footprint through linkages with different retail, utility and banking platforms hence today’s partnership with National Bank of Malawi is another step towards achieving that goal,” Sukasuka said.
According to NBM Head of Cards and E-Banking William Kaunda, the initiative brings together about 400,000 holders of NBM accounts and about one million subscribers of Airtel Money service.
Kaunda said this is a notable breakthrough in bringing banking to more people who need banking services but are having problems of access.