Absa unveils portable bank

Mergers, Acquisitions and Financial Results

Absa has introduced a mobile branch that can be operational anywhere in SA, within 24 hours of arrival.

The big four bank yesterday announced the launch of its first “mobile village branch model” (Branch-on-the-move) – a mobile bank branch Absa will run on a trial basis in Idutywa, in the Eastern Cape, which recently saw the original branch razed by a fire.

Absa says its Branch-on-the-move serves as an emergency branch and does not require technology or equipment to be dissembled before being transported. “In a commitment to improve access to financial services, the Idutywa pilot was built in only six weeks to serve the community while a new bank branch is being planned.” The financial services  group says this is in line with Absa’s commitment to meet the growing need for community banking services. Arrie Rautenbach, Absa’s head of retail markets, says the mobile bank is designed to simulate the functionality of an entire bank branch in the form of a large container on wheels, that can be set up to be fully functional anywhere in the country.

Rautenbach says the portable bank will move to areas of the country to extend its banking services where renovations, fire damage, water damage, ATM bombings or even construction interrupt normal branch operations. “This service will especially be felt in remote rural villages.”

Branch-on-the-move offers full banking services with two tellers, two sales consultants, a branch manager and an ATM.