Ecobank

MAY 2019 www.endeavourmagazine.com ECOBANK REACHING FURTHER INSPIRED BY YOUR SUCCESS



REACHING FURTHER Ecobank chevron- www.ecobank.com phone-sq 00265 9999 89153 Ecobank Transnational Ecobank serves both wholesale and retail Inc. (ETI) is a pan-African customers, who it caters to through three banking conglomerate with customer-focused business divisions: operations throughout the Consumer Banking, Commercial Banking and continent. In fact, with a Corporate & Investment Banking. We spoke presence in 36 countries, it with Lusungu Mkandawire, Malawi Country is the leading pan-African Head for Ecobank’s Information Security, about bank. In particular, it is the the banking group’s current strategy, and what leading independent regional it is that sets them apart both in Africa and in banking group in West and Lusungu’s country of operations, Malawi. Central Africa, but it also “The bank’s focus is on providing solutions- operates in the East and oriented, high quality products and services South. On top of this the to our customers, comprising of individuals, bank also has representative small and medium scale companies, large local offices in China, Dubai, corporates, parastatals, non-governmental France, South Africa, and the organisations and multi-national companies. United Kingdom. The aim is to consistently offer customers efficient, reliable and excellent service.” In addition to the traditional products and services, Ecobank offers innovative extras such as Mobile Banking, Remittance, Internet Banking, and the Pan-African Card payment gateway. To ensure this high quality of service, the bank has invested in state-of-the- art technology, which is combined with a Written by reliable telecommunication system and, most Alice Instone-Brewer importantly, a focus on training staff to assist

ECOBANK customers in as polite and helpful a manner would like. For example, Lusungu told us about as possible. Both sides to the equation are the current situation in Malawi: essential; you cannot have effective customer service without well-organised systems and “The banking industry is growing at a very technology, but at the same time, all of the slow pace in Malawi as compared to our data-handling in the world can only take regional neighbours in SADC. That’s due to you so far without the personal touch from a the economic performance of the country, customer service team. where most of government programs funded are by donors. Also, we are more of an In the name of efficiency, the Group importing nation, and thus the economy is not operates a ‘’One Bank” system. This means well balanced.“ that the entire organisation aims to streamline its processes and procedures within itself, no Malawi has a population ofonly17 million,and matter the geographical location or language yet there are seven different banks and MNOs differences between banks. Instead of entities competing with each other to provide financial in 36 locations, it is one machine, aiming to services in the country. This would already operate with smooth reliability that should create high competition, but raising the stakes continue no matter how far the bank’s reach even higher, 60% of the population is currently continues to expand. Once a system works, it unbanked. Not only does this mean that these can work no matter the growth. seven groups are currently only splitting around 6.8 million people between them, but they are However, whilst Ecobank’s ambitions competing to secure the remaining 60%. Many have always been and remain high, growth is of these potential customers live rurally, and so, currently slower in some areas than the Group Lusungu feels, the richest frontier for securing their custom is mobile banking. This is an area where Ecobank is investing and innovating carefully, with a view to securing not only these unbanked customers, but easing the banking experience of those already with them: “Our mobile app offers convenience for our customers. You can do all banking and payments services from the app without leaving your home. Utilities, money transfers and payments can be done from the App. We were the first in Malawi to offer this.” As well as leading in this area, Ecobank responded to the competition coming from MNOs by working with them. “Ecobank integrated with all MNOs that are providing Mobile Money services. These enable our customers from remote areas to access all our banking services.” These services make a huge difference to customers who live far from towns or cities, and they just got even easier to use. Not only did Ecobank first offer this service in Malawi, it has recently improved it: “We have just added the ability to load cash in your debit/credit card using the mobile App. In the past, for our customers to load cash in the card they were required to physically visit the branch. Now this can be done on our mobile app.” The bank even

REACHING FURTHER offers online support to customers who don’t and also serves as a strong incentive for staff bank with them: “We have the Express Prepaid seeking to build a career. card that customers who don’t have accounts with us can quickly acquire and pay for However, Lusungu came to Ecobank from services online.” elsewhere, building up his leadership skills and expertise with other companies before arriving Whilst much of their banking is now possible with the banking group. “I have been with the online, Ecobank still needs well-trained staff, Bank for almost one year. Before that I was both operating its IT and, of course, staffing its with Airtel, the third biggest MNO in the word, physical bank locations. The group as a whole and the first in Malawi.” This move again shows employs around 20,000 members of staff; how closely Ecobank works with MNOs within in Malawi, it has around 200. As a standard the country. of accuracy and excellence is required in the banking industry, the Ecobank Group trains “I started out my career in IT as a System its many staff in a dedicated Academy in Togo. Administrator with PricewaterhouseCoopers “We usually have specific training programmes (PwC), whilst there I got interested in IT Audit for each function. We also have an e-learning and Risk Management, which I started doing virtual platform for mandatory and department alongside the System Admin Job. Then I went specific trainings, and where we don’t have fully into IT Audit when I joined KPMG as an internal expertise, Ecobank looks for external IT Audit Supervisor, whilst doing IT audit for experts in the field to train its staff.” Where several clients I saw a gap in Cybersecurity possible, the bank seeks to promote from skills and I started looking for an opportunity within, which calls for further internal training, in the infosec field that’s where an opportunity came up at Airtel for the Information security

ECOBANK Manager role which I took for 4 years before Moving forwards, Ecobank will continue to joining Ecobank last year for the Head of invest in and develop the area that is giving Information Security role.” them the strongest competitive advantage: digital services. “Our strategy is leaning towards As well as relying on its staff,Ecobank has also digital products: we want our customers to benefited greatly from its various partnerships be using our digital products, mobile app, and and suppliers. In particular, technology and internet/online banking and mobile money. business partners have provided crucial boosts Ecobank wants to reduce the use of brick to the bank’s “digital transformation journey”. and mortar; this is the age of digital banking Amongst these suppliers are Microsoft, and that’s where our focus is.” As well as their who provide the Azure Cloud Platform that recent improvements that have made online supports much of Ecobank’s IT, and Oracle, payments entirely remote, the Group has also who provided Flexcube 12, the latest upgrade made a series of other changes to improve this to their core banking system. As for business side of its business. For example, the upgrade partners, the company is connected with the to Flexcube 12 will, according to Lusungu, two biggest MNOs in Malawi: Airtel and TNM. “enable us to automate most tasks that were “We partnered with them on the Mobile Money done manually, and will enable us digitise most service and well as the GSM business. They of our products.” The group has also moved its have a big customer base which we are tapping online features over to a new USSD platform, into for our revenue growth.” In Payments, which will allow their products to be used more the bank is partnered with VISA, and as for easily from mobiles other than smartphones. Remittance Partners, the group has a long- “Most users in Malawi use Feature phones. standing relationship with Western Union.

REACHING FURTHER Its only 5% of the total population that owns an environment run by people they trust. Be smartphones. This USSD platform will enable authentic - use your strengths and personality us tap into the unbanked market.” traits to develop your personal leadership style.” In seizing these opportunities and continuing Secondly, Lusungu believes in being able to to innovate, Ecobank must continue to listen move forwards: “Face challenges - great leaders to its team and create an environment where are brave enough to face up to challenging its staff can come forwards with ideas. This is situations and deal with them honestly. Finally, an ideal that Lusungu holds in high esteem. stay curious - good leaders remain intellectually “I subscribe to the Democratic Leadership curious and committed to learning. They’re Philosophy: I believe that everyone should have inquisitive and always looking for new ideas, equal say within the team, I value participation, insights and information.” These final values, consultation and consideration, and I believe in particular, are ones that drive Ecobank on in empowering followers through increased to new ideas and technologies, keeping them responsibilities.” When asked his views on ahead in Malawi’s banking sector. They were leadership, his answers could easily be broken the first to offer online banking services, the down into two sections; the first, develop trust first to update them as they have, and they will and communication: undoubtedly have more ‘firsts’ under their belts in the coming years. “Earn respect - when you conduct yourself in an ethical way and model the traits you want to see in others, you earn the respect of those around you. Win trust - employees are more loyal and enthusiastic when they work in BUSINESS COMPUTER SERVICES LIMITED A LEADING DIGITAL TRANSFORMATION ENABLER FOR TOTAL BUSINESS SOLUTIONS COMMITTED TO MAINTAIN A MOTIVATED AND TECHNOLOGICALLY EMPOWERED STAFF COMPLEMENT THAT PROVIDES QUALITY ICT SOLUTIONS CONFIGURATION, IMPLEMENTATION AND SUPPORT SERVICES TO OUR CLIENTS FOR SUSTAINED AND VIABLE GROWTH. LEADING DIGITAL TRANSFORMATION ENABLER: PERSONAL SYSTEMS | IMAGING AND PRINTING | DIGITAL TRANSFORMATION | BUSINESS INTELLIGENCE | DATA CENTER SOLUTIONS | CONSOLIDATION | VIRTUALIZATION | PROCESS AUTOMATION AND CLOUD SERVICES BUSINESS COMPUTER SERVICES LIMITED CLICK HERE FOR MORE EMAIL: [email protected]