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Johannesburg - Absa bank is testing a new approach to its business by extending banking hours for the Olievenhoutbosch community.
In a statement on Tuesday, it said that its branch there would
be open for 12 hours a day from 7:00 to 19:00, "enabling increased access to financial services by the community".
These were "the longest full service branch opening hours yet"
in South Africa.
Absa said it had identified Olievenhoutbosch in Gauteng to test a new banking approach that reflected banking trends and consumer behaviour patterns within that area and, importantly, the area had a high number of unbanked and entry-level banking customers.
Absa CEO Daphne Motsepe said that simultaneously a mobile Absa workforce was providing services
at a local taxi rank, where customers could apply for accounts or
take out insurance on the spot.
"When demand exceeds Absa's normal capacity in the area, the
bank also brings in a bank on wheels - a vehicle with a fully
functional ATM as well as deposit-taking facilities and two banking application work stations," she
said.
Absa had acted on customer feedback, which showed that extended
banking hours would make it possible for community members to
conduct banking transactions they would not otherwise be able to do.
"Customers who live in areas like Olievenhoutbosch leave home
early for work and return late due to transport challenges, making banking impossible during the week," Motsepe said.
- Sapa