Cogebanque Plc has also integrated the use of ITs in its services and products in a bid to freeze time, distance and boost efficiency, and, in the process, contributing to the attainment of Government of Rwanda ambition of building a cashless economy.
As many Rwandans continue to use digital currency to beat the spread of coronavirus, many transactions are done through online platforms including shopping, payments, tax declaration and money transfers.
Cogebanque Plc customers have told IGIHE that the bank has gone an extra mile by approaching clients, advising and providing them with digital financial services that involve online and cashless transactions.
Nkubana Alphonse who has been banking with Cogebanque for 10 years says that during the Stay Home period, he was able to access his bank account online without any hindrance.
Nkubana, an account holder with CHIC’s Cogebanque Plc branch, said he is satisfied with the technology because ’most of us used to send money and where you didn’t understand they would help you.’
"When you pay someone through digital platforms, there is proof that you paid for it. The transactions are also faster faster," Nkubana said.
From cheques to M-Wallet
Cogebanque customers say they have now come to fully appreciate the importance of using cashless transactions given the thorough support extended by the bank.
“I now use ‘Mobile Wallet ’service which can be compared to having a bank in your hands at all times. Even with COVID-19 lockdown, I could access my bank account whenever and from wherever I so wished.. I used to use cheques or cash. Now I go to Rutsiro or Nyagatare, paying the workers without any problems using Cogebanque’s Mobile Wallet,’’ Butwatwa Paul, a time honoured customer of Cogebanque says.
Butwatwa says it also eliminates all security risks that would be involved in money transfer.
The building contractor who has been banking with Cogebanque for eight years says that even his employees now find it an easy banking option.
Yvon Gilbert Nishimwe, Director of IT Services at Cogebanque Plc, says all through the COVID 19 lockdown, their clients could access their accounts from their homes without any ado.
Cogebanque Plc has 28 branches nationwide. It has 36 ATM machines, over 600 agents who help it provide account opening, deposit and withdrawal services, remittances and other services including technology ; Internet Banking ; Mobile Banking (* 505 # and Coge mBank) ; The Smart Cash card and MasterCard.
Rwanda has set a target that by 2024, 80% of transactions will be made through digital transactions, up from 34.6% in 2019.