In a bid to improve and expand its services to the customers, Rwanda Commercial Bank (BCR) has launched the “paradise banking” for institutional clients.
The bank says that the product is meant to attract deposits from large corporations.
“Paradise banking will be a one stop center where all services will be availed in one location,” said Sanjeev Anand, BCR’s Managing Director.
Management says that the target institutions for paradise banking include corporations, non profit institutions, NGO, Diplomatic Missions, UN agencies, aid projects, non bank financial institutions as well as development agencies.
The product was officially launched yesterday but it had been in operation for some time and it has so far attracted more than 2,500 clients, the bank said.
Anand added that the new product will significantly improve BCR’s services to its customers both in terms of quality of services and the overall turnaround time on transactions.
For the first time, the bank will institute delivery standards by which the clients will be able to measure the performance of the bank and give it an opportunity to improve services.
Kampeta Sayinzoga, the Permanent Secretary (PS) in the Ministry of Finance and Economic Planning commended the new initiative by BCR.
“This initiative falls within government plans to promote customer care service as part of increasing financial services to the people,” said Sayinzoga.
The PS also said that credit expansion should consider products that promote Small and Medium Enterprises (SMEs) and the Agriculture sector.
BCR says it plans to expand electronic banking distribution channels to cover transactions via internet, and enhance treasury services.