POSB succeeds by keeping eyes on the ball

POSB has stood the test of time and consistently offered unparalleled banking services to Zimbabweans.

The bank has evolved over time in tandem with technological developments and customer needs.

We have developed a wider branch network comprising 31 POSB branches in all major cities and towns and more than 180 Zimpost offices countrywide, bringing convenience to our customers.

Above all, the bank has lived up to its mission to provide a broad range of quality, accessible and affordable financial services. POSB is cognisant of the banking requirements of rural and urban populations and remains customer-focused in terms of providing tailor-made products and services to both constituencies.

Since dollarisation, POSB has been performing extremely well and has retained a top-10 ranking in terms of profitability in the cut-throat competition of the banking sector. These achievements clearly show POSB is a force to reckon with in the financial services sector.

The bank owes its success to continued support from its growing customer base which has continued to increase over the 107 years of its existence.

As an organisation we realise the customer is king and we endeavor to remain true to our mission to be The People’s Own Bank. Thanks to our valued customers  we have managed to attain accolades as a bank and as individual committee members, such as the recent award bestowed upon our chief executive officer of Most Customer Focused Executive of theYear 2012.

We look forward to achieving greater accomplishments in future and celebrate and share our success as a family.

Customer is king

CUSTOMER service is the provision of services to customers before, during and after a purchase or the supply of a service. Customer service should be designed to enhance the level of customer satisfaction — that is, the feeling a product or service has met the customer’s expectations.

Customer service plays an important role in an organisation’s ability to generate income and revenue.

From that perspective, customer service should be included as part of an overall approach to systematic improvement. A customer service experience can change the entire perception a customer has of the organisation.

Tips on attaining customer satisfaction

Know who is boss — You are in business to service customer needs and you can only do that if you know what it is your customers want. When you truly listen to your customers, they let you know what they want and how you can provide good service. Never forget that the customer pays your salary and makes your job possible.

Be a good listener — Take time to identify customer needs by asking questions and concentrating on what the customer is really saying. Listen to their words, tone of voice, body language and most importantly, how they feel.

Beware of making assumptions — thinking you intuitively know what the customer wants. Effective listening and undivided attention are particularly important on the show floor where there is a great danger of preoccupation — looking around to see to whom else we could be selling to.

Appreciate their value — Make customers feel important and treat them as individuals not as sales figures. Always use their name and find ways to compliment them, taking care to be sincere. People value sincerity. It creates good feeling and trust and be sure to thank them every time you get a chance.

Customers: The key to our success

LIKE most great business moguls of the world, success is achieved through taking risks and seizing opportunities the more faint-hearted fear to take. POSB realises that in any business, the key to success is keeping your customer king.

Meeting the needs and wants of customers and going the extra mile to ensure they are always satisfied, feel valued and appreciated is imperative in making sure they always come back and refer others to your door.

Whatever business you are in, providing exceptional customer service is an opportunity to set yourself apart from the crowd. As a leader, it is important to set a high standard. Taking the reins from time to time will serve to motivate your staff; proving that nothing is beneath you and it will also prove to the customer their value when they too receive your attention and assistance.

Understanding that customers are people with feelings and opinions is vital to maintaining great customer service. Making personal connections requires us to be personal. What better way to connect with customers than to learn about them, what they like, what they do. Find similarities and build upon them.

A lesson best learned early when it comes to successful business relationships is that everyone commands respect. Any person who walks into your organisation is a potential customer.

The way you treat an individual could affect your business future. Give people respect even simply by acknowledging their presence in your establishment with a greeting and smile, and your reputation will precede you.

POSB has the most delivery channels

POSB is the most accessible financial institution in the country, offering banking convenience that is beyond comparison. Customers can access their money from 30 POSB branches, more than 180 Zimpost outlets 80% of which are online with the core banking system through Point of Sale (POS) devices.
Mobile banking
POSB, in moving with the times, offers mobile banking. Transactions through this channel include:
Internal transfers
Balance enquiries
Bill payments
Airtime top-ups
Mini statements
Zipit: transfers to cell phone and other banks.
Smart partnerships  – POSB has strategic partnerships that provide customers more access to their money.
Zimswitch platform  – POSB is a member of Zimswitch and customers can withdraw cash at any ATM displaying the Zimswitch logo as well as make purchases in participating retail outlets through POS devices with their debit cards.
Zimpost agency  – Zimpost is POSB’s trusted distribution agent where customers can access their money from more than 180 Zimpost outlets nationwide.
Western Union money transfer – All POSB branches offer international and domestic money transfer through the worldwide Western Union network. The international inbound service is also available at selected Zimpost outlets.
Ecocash – The bank is an Ecocash agent, with all POSB branches offering the service
World Savings Bank Institute – The bank is an active member of the World Savings Bank Institute. This presents a forum for POSB to share experiences with other savings banks worldwide.
POSB products and services
The Retail Banking Division caters for individual customers. Products offered include:
Transaction account
Salary based loans
Mutually guaranteed loans
Employer guaranteed loans.
Savings products – An important part of POSB’s mandate is to encourage customers and the nation to generate savings. In pursuit of this goal, the bank offers tax-free interest on investments and flexible savings products which include:
Easysave – This is a fixed-term deposit with tax-free interest rates. It is ideal for individuals, clubs and societies who save money for specific goals. Customers can select any fixed term ranging from 1-12 months and the investment can also be used as security for a loan of up to 100% of the amount.
Smartsave – This enables individuals, clubs or societies to save for a specific objective with the flexibility of increasing their deposits at any time.
Juniorsave – Specifically designed for customers under the age of 16, this account offers all the benefits of a POSB account with the added advantage of zero transaction fees. It helps children to develop the habit of saving for the future.
Corporate Banking – More and more businesses are discovering the advantages and pleasures of banking with POSB.
The Bank’s Corporate Banking Division offers products and services in a variety of categories tailor-made to suit customer needs. Products include:
Corporate accounts
Corporate loans
Overdraft facilities
Debt financing
Order financing
Bridging finance
Local guarantees.
Treasury and international banking
Treasury Division – POSB has an active Treasury Division open to individuals and corporates. All interest from investments is Tax Free. Treasury products include:
Certificates of Deposit (CODs)
Call Accounts
Bankers’ Acceptances.
International Banking – POSB has the capacity and expertise to handle as well as process both incoming and outgoing payments in all major currencies, with speed

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