Ecocash Upgrades More Value Raising Bar On Innovation, Convenience&Enhanced Experience For Customers Banks

Zimbabwe’s largest Telecommunications Mobile money platform Ecocash Group chief executive Eddie Chibi has said, their recent Ecocash banking upgrades will add more value and continuously raise the bar on innovation, convenience, and enhanced product experience for all their customers banks.Such significant upgrades and integrations, amongst other investments, confirm the group’s long-term interest and commitment in the fintech space.

Eddie Chibi said,
“As we continue to build these rails, we are confident we will be able to deliver more value and continuously raise the bar on innovation, convenience, and enhanced product experience for all our customers.”

Chibi said the group’s insurtech businesses also experienced significant growth as they continued to enhance their value proposition.

“In addition to the core Life Assurance product, we have the following addons; Hospital Cash Back, Personal Accident Cover, EcoSure, VAYA Ekhaya, EcoSure Rescue Services, as well as EcoSure Memorial which are all gaining momentum in the market,” Mr Chibi added.

The Country’s biggest mobile money platform EcoCash saw its loss ratios on the add-ons lower than the core product and the short-term insurance business focused on the enhancement of the digital platform for the motor business, which launched the first user-based insurance product in the local motor insurance sector.

“We have continued to also drive the growth of our non-motor products, focusing on agriculture and other corporate sectors,” Mr Chibi added.

Chibi said they will continue to disrupt and challenge the status quo in the digital services space by leveraging data analytics and artificial intelligence.

The Group chief executive Eddie Chibi also said, “We have made significant strides in the deployment of digital assets in the past year, with the most significant being the Steward Bank core banking system upgrade.”

The upgrade has increased Steward’s banking system capacity and comes with a whole suite of new banking services and solutions which they have begun and will continue rolling out over time.

Ecocash banking upgrade follows hot on the heels of similar upgrades of the ecocash platform deployed in 2019. The bank has integrated its systems to ZimSwitch, allowing Steward Bank to expand its play in the local digital payments’ ecosystem.