Absa's 1.3 million online banking clients will be the first in South Africa to have access to fully integrated online insurance. With immediate effect, clients will be just a few clicks away from having access to a launch suite of six core short-term and life insurance and investment products - all on a single, secure platform.
Absa clients will be in a position to apply for and manage short-term insurance policies to cover residential buildings, household contents and vehicles. Additionally, life insurance, funeral cover and credit protection can be serviced and will be available for purchase through Absa Online.
Speaking at this morning's launch, Chief Executive for Absa Financial Services Willie Lategan said: "We are excited about the first mover advantage this integrated online insurance platform gives us. It demonstrates our commitment to being relevant to our customers and underscores our quest to become Africa's 'go-to' bank. Our customers want convenience and we have delivered. In future they can interact, transact, view and amend their policies online at any time of the day and week. Our customers will get a differentiated and holistic digital experience."
Absa Online continues to evolve. In recent times, the site has provided easy access to Absa Rewards programme, where members have instant access to their cash rewards while also having the ability to view their reward balances anytime, anywhere. Other innovations include the ability to open a range of savings and investment accounts in just three clicks. Absa Online also makes worldwide payments easier through its partnership with Western Union.
Showcasing some of these latest online enhancements at an event in Rosebank today, Adrian Vermooten, Absa Head of Digital Channels and Payments, says: "We are making banking simpler and more convenient with tailor-made customer services that can be accessed online through our powerful Absa Online platform."
He concludes: "We are extremely proud of our new digital insurance offering and that we can now provide customers with a 'net worth' or a snapshot of their financial position. By consolidating insurance and banking products, customers will have a clear picture of where they stand financially at a glance."
Group at a glance
Barclays Africa Group (Barclays Africa Group or the Group) is 62.3% owned by Barclays Bank (Barclays) and is listed on the JSE. The group is one of Africa's major financial services providers offering personal and business banking, credit cards, corporate and investment banking, wealth and investment management as well as bancassurance. It combines its global product knowledge with regional expertise and has an extensive, well established local presence.
The group was formed through combining Absa Group and Barclays' African operations on 31 July 2013. Reflecting the enlarged group's pan-African focus, the bank's name changed from Absa Group to Barclays Africa Group on 2 August 2013.
At 30 June 2013, Absa Group had 718.2 million shares in issue and a market capitalisation of R103 billion. The Group had assets of R841 billion, 9 997 automated teller machines, 962 staffed outlets and 33 879 permanent employees.
Its registered head office is in Johannesburg, South Africa, and it has majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania (Barclays Bank Tanzania and National Bank of Commerce), Uganda and Zambia. The bank also has representative offices in Namibia and Nigeria, as well as bancassurance operations in Botswana, Mozambique, South Africa and Zambia. Barclays Bank Kenya and Barclays Bank Botswana continue to be listed on their respective stock exchanges.
Barclays Bank has operations in Egypt and Zimbabwe, which are an integral part of the bank's African business, and continues to be run by Barclays Africa Group's management.
Share