‘Build trust with clients’

Daily Nation Newspaper - - HOME NEWS -

By BUUMBA CHIMBULU

must build trust with their clients as it is the essence of suc­cess, says the Fi­nan­cial Sec­tor Deep­en­ing Zam­bia (FSDZ).

FSDZ chief ex­ec­u­tive of­fi­cer, Betty Wilkin­son, said clients needed to trust the fi­nan­cial ser­vice providers to en­sure safety and sound­ness of the sec­tor.

"We are adding dig­i­tal fi­nance and other ser­vices to our mar­kets, so we also need to de­velop trust in th­ese new ser­vices to ad­vance fi­nan­cial in­clu­sion. FSDZ is com­mit­ted to in­creas­ing trust in the fi­nan­cial mar­kets,be­cause trust is the essence of suc­cess," Ms Wilkin­son said.

Ms Wilkin­son was speak­ing in Lusaka at the Mas­ter Class for busi­ness re­porters or­gan­ised by FSDZ and the Zam­bia In­sti­tute of Pol­icy Anal­y­sis and Re­search (ZIPAR).

Ms. Wilkin­son said com­mer­cial banks and other fi­nan­cial ser­vice providers also needed to trust clients to be re­spon­si­ble about their money and pay their debts.

She ex­plained that FSDZ be­lieved that trust could be in­creased in fi­nance through mea­sures such as im­prov­ing un­der­stand­ing among all play­ers in the sec­tor about knowl­edge, needs and op­por­tu­ni­ties of each group.

Ms Wilkin­son said it could also be in­creased by sup­port­ing the mar­ket to re­duce the cost of fi­nan­cial ser­vices, both for cus­tomers and for fi­nan­cial in­sti­tu­tions as well as in ad­dress­ing in­no­va­tion of the prod­ucts.

"Some of the rec­om­men­da­tions for ar­eas FSDZ be­lieves should be pri­or­ity in mov­ing fi­nan­cial in­clu­sion for­ward: we need small pay­ments to gov­ern­ment to be made pos­si­ble via dig­i­tal fi­nan­cial ser­vices. We need to think of sav­ings as a vi­able op­tion for the fi­nan­cially ex­cluded," she said.

Ms. Wilkin­son also said FSDZ had in­vested in the me­dia train­ing to en­hance the ca­pac­i­ties of re­porters in busi­ness re­port­ing as well as to build a com­mu­nity of prac­tice among Jour­nal­ists so they could am­plify the mis­sion of the in­sti­tu­tion's re­spec­tive or­gan­i­sa­tions.

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