Patience is a virtue, but business is time and money. Whether you want to believe this or not it is real, today it’s all about the online world. The internet, another name for it, has therefore become the place where most of us, particular Generation Y live. We read blogs instead of newspapers, watch YouTube instead of TV and listening podcast instead of radio. In essence all the tools we use are available on the internet, rightfully so because it’s becoming more and more convenient to be online away from odious computers or laptops to web-enabled phones.
In the evolution of banking, the mobile channel is rapidly becoming a convenient financial service, which 100% Jamaican-owned National Commercial Bank (NCB) is capitalising on. NCB has given customers the control of their personal finance management of reviewing account details or checking account balances, transferring funds amongst NCB accounts, paying credit card and utilities bills all in Mobile Banking.
As someone who detests long-lines either at banks or ATM, an Intrepreneur (a person who has an entrepreneur skill set but works within an organization) and a Smartphone owner, the best thing since Grace Instant Cup Porridge in the banking world is NCB Mobile Banking. For me the introduction of this functionality from ‘my bank’, which I’ve been proudly banking with since eighth grade, has given me a high quality services comparable to the best internationally and locally.
The introduction of mobile channel by NCB comes at a time when there is substantial improvement in data services, handsets and the latest development in wireless network, marketing and investments by the telecommunications giants Digicel and LIME. The competitive offers by both companies allow both customers of the mobile market and the banking industry to have compelling features, functionality and consumer friendliness.
Since establishing the Mobile Banking NCB has save me a number of times from having my phone disconnected, embarrassment in check out lines and most important being stranded. I clearly remember one Friday night my salary was transferred late to my regular saving account; I never had my Midas Card, but instead my KeyCard Cash on which I had no cash. On the road I felt stupid, no wallet could be found and none of my friends were anywhere near. I had this grand idea to Google “JNCB E-Link” to see if I could make a transfer. “Praise be to God” I recalled shouting that evening because it work and within two hours I was on my walk home. I had discovered NCB Mobile Banking.
Trust me NCB has brought delight once more to me as a customer with Smartphone penetration, allowing me to have real time self-transaction, which should adapt well with the telecommunications market for mobile data services and applications. Even so I believe this is just the first hurdle for NCB which like most products introduce in Jamaica will be facing cultural, technical and business challenges. Chief among the Business Challenges is a marketing investment in increasing consumer awareness about mobile banking, as well as the message of being vigilant with regards to privacy and data security.