Financial services database to ease access

Banks and other financial institutions will be easy to access now following the development of an internet application showing their allocation in Zambia.

The application, Geospatial Information System (GIS) mapping, has been developed by the Financial Sector Deepening Zambia (Fsd Zambia) and was launched on Wednesday, 11th May, 2016. The data base will contain actual and potential financial service access point throughout Zambia and has over 28, 000 access points captured.

The new concept is used worldwide to capture, store, analyse, manage and present financial data.

Speaking at the official launch, Ministry of Finance permanent secretary (Budget and Economics affairs) Pamela Kabamba said Zambians should better understand the influence of proximity and uptake of financial services.

“We now have a unique, first-ever spatial map showing in great detail where outlets for financial services providers are located throughout the country.

“With this data in place, we can better understand the influence of proximity, uptake and usage of financial services as well as its value in terms of service design and delivery,” she said.

Ms Kabamba said details on the access points provided a national picture of financial service provision both formal and informal.

She also said the FSDZ team had agreed to provide open access to the data base to allow all organisations to be included for the benefit of the people. Earlier, FSDZ chief executive officer, Betty Wilkinson, said one of the key objectives of her company was to better understand the current levels of people’s access and uses of financial services.

“One of the key objectives of FSDZ is to better understand the current levels of people’s access and use of financial services, so we can support increased outreach of these services. “Understanding the spatial relationships is important so we can understand how to better service households and businesses in urban and rural communities,” she said.

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