AB Bank Zambia launched an award-winning mobile wallet in partnership with Software Group

2 Jul, 2020
12th June 2020 – AB Bank Zambia, a member of Access Microfinance Holding AG, in partnership with Software Group launched eTumba, a mobile wallet that will provide all Zambians with easy access to real-time banking services.

The innovative technology combines the user-friendliness and convenience of a mobile wallet with the security and reliability of a bank account. Open to all Zambian citizens, it offers easy self-registration via USSD or an Android app – instantly, anywhere, anytime, and at no cost. 

Through an integration with the National Financial Switch, a platform promoted by the Bank of Zambia to facilitate interoperability between banks and mobile money providers, eTumba customers are able to deposit and withdraw funds at more than 14,000 Kazang agents across the country. 

Other features include real-time transfers with instant SMS and app push confirmation, an innovative “request money from a friend” option and in-app assistant to enhance customer experience, with more functionalities like bill payment and airtime top-up options expected in the coming weeks.
“The launch of eTumba is a landmark moment for AB Bank Zambia. Our financial inclusion mission is not anymore limited by our branch network, as we can now provide customers with exceptional digital payment banking experiences anywhere and anytime, all within a single wallet.
We are very grateful to partner with Software Group on the successful delivery and launch of the eTumba wallet and see them as a strategic partner in our digital transformation journey”
commented Mr. Cosmin Olteanu, Chief Executive Officer of AB Bank.

“AB Bank Zambia has proven to be at the forefront of banking innovation in Zambia with its technology initiatives under the executive leadership of Mr. Olteanu. We are proud to support them in bringing their mission of financial inclusion to the next level by providing modern and affordable financial services to all Zambian citizens,” said Connor Hanan, CEO of Software Group Africa. 

The eTumba project was supported by the Access2Access programme – a partnership between the Mastercard Foundation and AccessHolding.
Earlier this year, AB Bank Zambia was awarded the prestigious innovation prize for Small Medium and Micro Enterprise and Agricultural Finance by the European Investment Bank. One of the distinguished initiatives was the implementation of the eTumba mobile wallet.

About AB Bank Zambia
AB Bank Zambia Limited is a registered Commercial Bank in Zambia and a member of the Access Microfinance Holding AG network, which promotes access to financial services in developing and emerging economies. AB Bank Zambia targets micro, small and medium enterprises as well as low- and middle-income households and provides a broad range of affordable and appropriate products and services, which include loans to urban and rural entrepreneurs, free current and attractive savings accounts, domestic and international transfers and payments. The bank is committed to improving access to financial services to people in urban, peri-urban, and rural areas and extended more than 90,000 loans since its inception in 2011. Besides Access Microfinance Holding AG, AB Bank’s shareholders are Proparco (the private sector financing arm of Agence Française de Développement, AFD), the International Finance Corporation (a member of the WorldBank Group) and KfW (the development bank of the Federal Republic of Germany). More information at https://www.abbank.co.zm/.