Time for Banks in 3rd world to offer new practical features to assist the People!

Time for Banks in 3rd world to offer new practical features to assist the People!

I have on several occasions berated banks for being unimaginative unresponsive dinosaurs.  Here goes again…

What has triggered this in particular is thinking about the current 2013/2014 liquidity crisis in Zimbabwe – because we rely on the US$, we cannot indulge in QE – Quantitative Easing (printing money) – which helps keep the USA. UK, global and other economies semi-functioning.  

The one and only bank in Zimbabwe which operates well in my opinion is CABS – a subsidiary of Old Mutual – their electronic banking product in particular has great potential to bypass the very serious shortage of banknotes by enabling cash-free business transactions.

2 features are desirable in my opinion which are lacking in Cabs and indeed in all banks globally:

1.  An electronic access with a low-privilege password which enables the user to only query current balance and recent transactions

2.  A system which enables the account holder to delegate some low-level functionality to another user – e.g. spend up to US$ 20-00 per day or $100-00 per week with a certain supermarket.

3. An automatic email to the account holder for every transaction (a feature which some banks offer already)

How difficult are these 3 features to implement?  Really?

Alex Weir, Gaborone, Botswana







About alexweir1949

software developer, inventor and innovator, Fraud Proof Voting Systems Inventor, founder of cd3wd.com. Based in Botswana and Zimbabwe, work everywhere.
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