Tanzanian bank commends effectiveness of mobile banking services
Tanzanian company CRDB Bank has hailed the positive results generated by its mobile banking facility.Tanzanian company CRDB Bank has hailed the positive results generated by its mobile banking facility.
According to the financial services provider, many of its shareholders have been using the digital tool to collect dividends, the Tanzania Daily News reports.
This, it said, means money can be transferred even to those in the most remote locations at no extra cost and in a simple, straightforward way.
Hilda Rwanshane, presenter of CRDB's annual general meeting, said the proportion of dividends that are not collected by users of the mobile platform stands at zero.
She stated that this is much better than the non-collection rate with other methods including cheques and bank accounts.
"This is the easiest, safest and fastest means of paying dividends compared to the traditional means," Ms Rwanshane commented.
She added that if all the uncollected dividends paid via cheque were in circulation, it could help to drive economic development in Tanzania.