CRDB launches Tokenisation Service

DAR ES SALAAM: CRDB Bank has rolled out an innovative token service that allows its customers to send money to anyone, even if they are not account holders with the lender.

Using a secure secret number or “token,” recipients can withdraw the funds from any CRDB agent nationwide, expanding access to banking services and making money transfers faster and more convenient.

CRDB Bank’s Dar es Salaam Regional Manager, Muhumuliza Buberwa, said yesterday when opening agents’ seminar and launching the service that the ‘Tokenisation Service’, which allows a customer to withdraw money sent from another bank or mobile network.

“This service is a result of the success CRDB Bank has achieved following the recent system upgrades,” Mr Buberwa said.

CRDB has over 45,000 agents across the country, who last year facilitated more than 200 million transactions worth over 72tri/-, offering services equivalent to those provided at bank branches.

“CRDB considers it very important to meet with our agents following recent core system upgrades. Through this seminar, our experts will receive your feedback and answer any questions you may have,” he said.

CRDB Bank Head of Agency and Payment Services, Catherine Rutenge, said that previously, agents could only serve CRDB customers, but now the scope has been expanded.

“We know that many people own mobile phones. Now, all these individuals can be served if a CRDB customer sends them money. Given the large number of our customers, we believe this service will reach many people, including those who are not our clients,” Ms Rutenge said.

Tokenisation is a continuation of enabling CRDB Bank customers to send transactions to non-bank clients. Currently, customers who receive money on their mobile phones can withdraw it from ATMs or at bank branches using the secret number provided.

“It is common for someone to say ‘do not send it to this number’ due to debts. We understand that, which is why we considered it. With our Tokenisation service, the recipient can withdraw the full amount sent,” she said.

Flora Erasto, a senior CRDB Bank agent and Managing Director of GAF Company, said the ongoing upgrades allow agents to reactivate customer accounts, register customers for Simbanking, open accounts and access many other services.