Amalgamated Banks of South Africa or ABSA Group Limited, the financial service provider, has launched ChatBanking for Facebook Messenger, thus allowing users to access banking services through the social media platform.
Absa customers can access ChatBanking by adding Facebook Messenger profile on the website of the financial service provider. The service will allow customers to access their transactional account balance, buy airtime, data and prepaid electricity, get mini statements, and make payments to existing beneficiaries, according to Destiny Man.
“Our customers already use Facebook for their daily dose of global news, to share photos with friends and family, and even solve their business issues. To deliver a cool banking experience, we are bringing banking to where our customers spend their time,” Barclays Africa group chief information officer and chief digital officer Ashley Veasey said.
Absa had first launched the service for Twitter in May this year (2016). The ChatBanking does not store personal information or card details of the customers on the chat, Veasey said.
“This means that even in the event of your cellphone being stolen or someone gaining access to your Facebook account, they would not be able to abuse the information,” he said.
Connecting digital banking to social media platform is important as it would make it possible for the customers to easily avail banking services, Veasley believes.
And a research on social media networking in South Africa, conducted by World Wide Worx and Fuseware, shows the need for it. At least a quarter of the country’s population, i.e. about 13 million people, are active Facebook users. Moreover, social media networking is growing at a speed of 8 percent year-on-year.
“As technology advances and more customers become connected, bringing banking to where our customers are important to us and we are very proud to be building the future of our bank,” he says.
How to use ChatBanking for Facebook Messenger?
Customers need to log in to Absa website and then click on settings, select ‘Manage ChatBanking,’ click on Add Profile and follow the prompts, according to Business Tech.