I&M Bank has introduced a new innovative communication service to support the government's efforts of enhancing financial inclusion in the country.

Zahid Mustafa, the Bank CEO said in Dar es Salaam yesterday at the launch that the bank has upgraded services that are applicable through WhatsApp.

He said the upgraded services include new features that align with commitment to sustainability and paperless banking, contributing to the Tanzanian government’s vision of a robust digital economy.

He said that statistics show that 33 percent of the global population use WhatsApp for daily interaction, adding that the bank's decision to provide services via whatsApp was very important to expand the customer’s volume.

Mustafa said that Rafiki Chat Banking offers a wide range of banking services, from account opening and self-registration.

Others were balance checks and mini statements to effortless fund transfers, utility bill payments and live customers chat/support from the banks services agents.

“Our bank remains dedicated to innovating for a sustainable future and supporting Tanzania’s digital transformation,” he said.

“Upgraded services “Rafiki Chat banking” is a testament to bank commitment to deliver convenient, eco-friendly banking solutions that align with the nation’s vision of a digital economy,” he added.

Mustafa commended government efforts in creating friendly environment that enabled financial sector to propel

The Bank Head of Retail and Digital Simon Gachahi said that the improvement ensures a seamless and user-friendly experience, empowering customers to manage their finances effortlessly and conveniently.

“The whatsApp channel is one of the channels that has the fastest adoption rates amongst I&M Tanzania customers and we intend to continue investing in building more functionalities and features working with our technology partner,” he said.

According to the Fin-Scope Survey 2023 results, the level of access and use of formal financial services increased to 89 percent and 76 percent in 2023 from 86 percent and 65 percent in 2017, respectively.