Bank launches Customer Value Proposition

Bank launches Customer Value Proposition

MASERU – STANDARD Lesotho Bank (SLB) on Tuesday launched the Customer Value Proposition that will improve the way the bank works with NGOs.
SLB Head of Business Banking, ‘Mahlompho Mojakhomo, said the NGOs are different from other businesses and therefore should be treated differently since they help Basotho in different ways.
“There are trained consultants who would be able to provide bank services in line with their businesses. They understand that NGOs are different and would know how they would use the bank since they use money for growth,” Mojakhomo said.

Mojakhomo said they have learned that money is acquired from these NGOs.
The SLB promised that they would pay for the services in a different manner as compared to the normal payments done by everybody.
The bank said NGOs operate on short-term contracts and this implies that in order to defeat the problem of getting loans in short periods of time, their working contract would determine how long they have been in the business and how they have been operating.

“The decision by the bank is aligned with how the NGO has been doing,” she said.
Mojakhomo further mentioned that the business might have people who have shares in the bank but there would be others who could work with the bank on a daily basis.
There is an Enterprise Online Banking which would enable clients to see whether their money is performing as expected, while those who deposit and withdraw also have the same authority, she said.

She said the Enterprise Online Banking is a new product for the NGOs and business owners because the bank had learned there is need for clients to know about their accounts at any time.
The bank vowed that NGOs would not be charged like any profit making organisation and instead, in a situation where a person who does not bank with the SLB, the bank would decide how they would use the account.

“Since businesses operate differently, the charges also differ. Therefore, clients would be given the fee that links to the way their organisation operates because their activities are different,” Mojakhomo added.

Tokase Mphutlane

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