Fina Bank explains Saturday closure

•Set to start Internet and SMS Banking Last Saturday, Fina Bank closed the doors to its Main Branch in order to install modules that will make it possible to introduce Internet and SMS Banking by next year. This was revealed Sunday by Fina Bank Managing Director (MD), Steve J. Caley, at his offices. According to Caley, on Saturday, the bank was carrying out a substantial computer up-grade; changing the old operating system and transferring correct data to the new one. He added that the old operating system could not allow the bank to provide both Internet and Sms banking, but with the newly installed operating system and more additional modules, the Bank will avail the two services to its customers. “Both the bank and its customers will benefit from the newly installed system because it is simpler to use, provides better information and it forgoes unnecessary processes in the business transactions hence avoiding time-wasting,” he added. “The change to the new system appeared to be simple but lengthy because it meant closing out the whole system and migrating the new system with all the required information and programmes using the new platform, which made the project staff work over the weekend,” Caley explained. He further revealed that the total investment in the up-grade cost Fina Bank about USD one million but that it was a worthy investment as it will last for years and shift Fina Bank to the same I T platform as Fina Bank in Uganda and Kenya. The MD added that Fina Bank will next year also open five more branches in the country to make sure that its services are enjoyed by more nationals. “We want to make sure that the bank goes East African,” he responded to a question about the East African Community and the way forward for the bank as he added that the Bank is interested in investing in Tanzania and Burundi. He expressed regret on the closure of the bank on Saturday as customers did not access its services, but added that it was a worthy sacrifice for development’s sake. Formerly known as Bacar until 2004, the bank started its operations in 1983 and has five branches countrywide. Ends

National

Fina Bank explains Saturday closure