Capital Finance International (CFI.co) has conferred to MauBank two awards in the fields of Digitalization and Business Strategy, namely the Best Digital Strategy in Banking, Mauritius 2022 and The Best Growth Strategy in Banking 2022, Mauritius 2022.
The judges of CFI.co are of the view that MauBank’s investment in the digital ecosystem has helped deepen its relationship with customers through improved products and services, cross-selling and faster integration, which has driven financial returns and supported innovation. It has also observed that the bank has reviewed its priorities following the pandemic and pursued its digital roadmap for greater operational efficiency, service quality and customer experience. The judges’ remarks commend the development of online lending platforms, the continuous development of our app WithMe in accordance with the Instant Payments System introduced by the Bank of Mauritius, as well as the revamping of cybersecurity risk management to tackle issues emerging with new technology and transaction methods. Read more: https://cfi.co/awards/africa/2022/maubank-best-digital-transformation-in-banking-mauritius-2022/
Reacting to the proclamation of the awards, Premchand Mungar, Chief Executive of MauBank, states “We have made it a priority to rethink our operational processes in order to meet the new challenges of banking consolidation, control of operating costs, improvement of the customer experience and increased income through innovation. Even if reducing costs in order to optimize financial performance was a big challenge, we did not hesitate to invest in cutting-edge technology in order to be in phase with the evolution in the financial sector and to offer digital solutions to our customers. We are delighted that our strategic directions in digital and for growth have met these two prestigious recognitions in the banking sector. I dedicate them to our staff and our customers, without whom these achievements would not have been possible.”
On account of its financial performance, CFI.co has underscored the fact MauBank has achieved steady growth over the past three years given its prudent management of assets and liabilities, and conveyed being impressed with the bank’s steadfast piloting of pandemic challenges, the focus on expansion, conquering market shares and product development. It further noted that impressive growth comes from MauBank’s international banking efforts, serving global entities and non-resident customers with a comprehensive range of well-defined products and services. Technological developments to further enhance the customer experience are also fostering significant growth. The jury applauds the bank’s new Green Financing Scheme (financing to promote renewable energy improvements), and the fact that MauBank, in spite of the increasing competition in the sector, is determined and well-equipped to maintain its position among the country’s top three banks. It also acknowledges that the Brand & CX Tracker 2021 confirmed that MauBank has risen to the top tier of the banking sector: helped, in good part, by its creative marketing and communication strategies. Read more: https://cfi.co/awards/africa/2023/mau-bank-best-growth-strategy-banking-mauritius-2022/
