Bank eyes digital initiatives

THE Nationwide Microbank (MiBank) is focusing on a number of digital initiatives this year which included digital identity, among others, according to chief executive officer Tony Westaway.
He said amid the Covid-19, dealing with the new normal and business environment this year “we launch in to 2021 full steam ahead with new initiatives to create opportunity”.
Westaway told The National that those new initiatives included the expansion of its mobile money agent network, and collaborating with a number of agriculture linked partners to develop digital offerings for farmers.
He noted that 2020 was a watershed year for them, however, two transactions had been completed against the backdrop of the Covid-19 which included the acquisition of PNG Microfinance Ltd in January and the purchasing of Esiloan from Kina Bank in July.
Esiloan’s transfer from Kina Bank to MiBank was aligned to MiBank’s brand and was based on a mutual referral agreement they had in place with Kina Bank where customers were referred to each other depending on their needs.