Financial literacy key to banking services

Financial management and financial literacy go hand in hand hence the encouragement for the public to manage their personal finances by empowering themselves with necessary information.

Head of Customer Channels at Stanbic Bank Botswana, Calistus Chijoro has added that the bank ensures development of value adding and relevant services and products to help achieve this objective. He stated that they have set up various digital platforms and processes to allow customers to make the most of their finances. Due to the constant advancements of technology, he said they strive to take advantage of this by improving their offerings and creating more efficient and innovative services.

“Personal financial management, though seemingly trendy more lately than ever before, has always been a key priority and indeed an absolute necessity in every community, for most financial institutions, educating the public on prudent financial management goes hand in hand with helping communities and indeed economies move forward,” said Chijoro.

He further said that managing finances is an important facet of one’s life. This he said entails everything from keeping a stringent budget to keeping record of all expenditure. Chijoro said it may sound like a lot of work but there are a lot of platforms that make things a lot easier. He pointed out that to improve efficiency, financial institutions such as Stanbic Bank have increased the digitisation of banking platforms. Electronic Banking is an avenue of banking that has allowed for more efficient, convenient and paperless processes. On the back of increased financial literacy effort, he said Stanbic bank advises the public to ensure that they use every possible means to empower themselves with more convenient and efficient banking.