Reserve Bank of Malawi (RBM) has challenged commercial banks in the country to invest more in digital financial services and embrace innovations.
RBM Deputy Governor McDonald Mafuta Mwale said this during a 16th Anniversary Cocktail celebration for National Bank of Malawi’s Mo626 in Lilongwe.
Head of Digital Financial Services at National Bank, William Kaunda, says the Mo626 journey has been both challenging and rewarding. Kaunda has since pledged improved digital services to customers.
The facility was unveiled in 2008 as an SMS banking solution and has so far K384 billion value of transactions.
