CRDB reinvents SimBanking to use AI

CRDB Bank Plc has recreated the SimBanking app using Artificial Intelligence (AI), integrated with other advanced technologies that accumulate user memories and identifies customers’ needs.

The app, which has bagged a number of awards in recent years, will notice and later suggest in advance the customers want upfront to simply do transactions.

CRDB Chief Financial Officer, Mr Fredrick Nshekanabo said during the app re-launch soft ceremony yesterday that the new SimBanking App has been created using advanced technologies including AI.

“The technology used in SimBanking App allows the customers to choose service arrangements in the way they prefer. It also has the ability recognises services the customer prefers the most and easily direct them there,” Mr Nshekanabo said.

The new tech in SimBanking App revolutionised financial service delivery, because it will increase the range of digital services that can be provided at top speed and simplified transactions.

“Another area that we have paid great attention for the new SimBanking App is security and security of customer information and transactions,” The CFO said, “We use biometric technology to ensure safety for customers. This makes us the only bank in the country and among few in Africa that use this technology.”

CRDB Digital Innovation Senior Manager, Ms Jacklina Jackson, said the new app offers various investment opportunities, including opening a fixed deposit account.

“Customers can also now arrange money transfers, especially on constant recurring payments…which can be scheduled daily, weekly or every month,” she said.

Additionally, the lender has improved the transactions information pattern where customers can easily retrieve the receipt for all dealings at any given time.

The application has been improved further to permit payments through digital services providers that facilitate the collection of payments, and the user is vested with the ability to authorise payment using the one-time passcode.

CRDB also improved the App’s methodology for purchasing insurance coverage by increasing the speed and duration of access to services. The service was first introduced in 2020 when the app was modified for the first time. It was also reviewed in 2021.

The bank said currently 96 per cent of the lender’s transactions are carried through digital platforms, where SimBanking takes a lion’s share.

SimBanking received various awards, including Consumer Choice Awards, US Global Finance Awards and the latest one Tanzania Digital Awards.

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