Bank Windhoek heeds business banking needs

On Wednesday, 14 July 2021, Bank Windhoek introduced its Business Banking offering at a virtual event hosted in Windhoek. A function by the Bank's newly established Business Banking Division, the offering focuses on meeting business needs in key Namibian sectors, namely agriculture, tourism, retail, wholesale, and health.​Bank Windhoek's Managing Director, Baronice Hans, explained that the offering is based on the understanding that the vitality and growth of businesses are critical to a country's economic development. “We took the time to understand the needs of our small, medium, and extensive business banking customers. These insights set the foundation of our tailored value proposition for business banking," said Hans. She emphasised that the Bank prides itself on being globally competitive yet locally relevant and uses this to reimagine business banking for Namibians for both the present and the future.  

Unique features and benefits

The Bank's Executive Officer of Business Banking, Leon Koch, said the new offering showcases financial solutions to suit the unique needs of businesses. "These needs are namely online banking, payment solutions, and trade and foreign exchange services. It also includes financing solutions such as overdrafts, business credit cards, commercial and sustainability loans, and vehicle and asset finance," he said.

Key unique benefits, shared by Koch, are the Online Virtual Business Service Centre, which includes the Business Banking I-Lounge, and the Digital Marketplace. Another crucial benefit is the introduction of Sustainability Finance Loans. "We are proud of the fact that Bank Windhoek is the first commercial bank in Southern Africa to issue and list both a Green and Sustainability Bond," he said. 

The Business Banking I-Lounge is specifically tailored to the needs of all existing and new business customers, with a specific focus on Small-Medium Enterprises (SMEs). “It is mended by business bankers who engage customers via email, the internet, and the telephone to assist where possible and provide mentorship at the customers' convenience," said Koch.

To enhance customer experience, building relationships, and stakeholder engagement opportunities, Bank Windhoek entered into a strategic partnership with BCX Namibia and Microsoft to create the Bank's Digital Marketplace. A first for Namibia, the association offers customers software and hardware tools at a reduced rate. Koch added that the digital marketplace is a banking hub bringing support and productivity tools, a learning portal, and information to stay abreast with the latest business trends and news.

Koch remarked the Bank's Business Banking customers would also have access to savings and investment options and an array of insurance solutions.

Regarding challenges due to the pandemic, Hans emphasised that the Bank would continue to build lasting relationships with businesses and meet their needs. “In times like these, we sought ways to strengthen our relationship with our SMEs and commercial customers by bringing an offering that is seamless, efficient, and enhances business performance," Hans concluded.

Available for a re-watch, Bank Windhoek's Business Banking offering virtual event was broadcast live on the Bank's YouTube and LinkedIn Social Media platforms.

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