Cavmont Bank Partners with ITS for Internet Banking Facilities

Top Quote Cavmont Bank Partners with ITS for Internet Banking Facilities. End Quote
  • (1888PressRelease) June 20, 2012 - Dubai - Cavmont Bank, a commercial bank in Zambia with 16 branches took a giant leap forward after unveiling its very first online banking solution for its 28,000 customers. Leading solution provider for both Islamic and conventional banks, ITS (International Turnkey Systems) Group, made this possible by implementing ETHIX Net, which provides fast and effective Internet banking services, allowing customers to conduct their banking wherever they are in the world.

    "This is a step forward in the right direction for us. We are pleased to partner with ITS and believe the solution will be a great advantage to our customers. It will provide us with greater opportunities in the competition for attracting more individual and corporate clients," said Johan Minnaar, Managing Director of Cavmont Bank.

    Thanks to the implementation, the e-Cavmont Electronic Banking delivers real-time data on account enquiries and transactions, as well as straight-through processing on local bank transfers. It will allow corporate and individual customers to conduct all their transactions in a safe and secure online platform, saving time and money. Customers can now log onto their individual or corporate accounts at any hour of the day and check their balance, request a bank statement, effect transfers and settle payments, making it easier and efficient for them.

    "The agreement is a step towards greater presence in Africa, one of the world's most promising regions for ITS, which is expected to experience great development and growth in the upcoming years," said Khalid Faraj Al-Saeid, ITS Managing Director and General Manager.

    "The ETHIX Net solution has many benefits including streamlining a working environment and allowing for better customer service to take place. This positions the bank to achieve its expansion goals," he added.

    In addition to supplying Cavmont Bank with an IT solution, ITS will also provide training to the bank's staff, so they can get the most out of ETHIX Net solutions. They will also assist with any future web-based solutions, particularly with the expansion and cooperation with neighbouring Southern African Development Community (SADC) countries.

    About ITS Group
    Founded in 1981, the ITS Group is a leading solution provider for both Islamic and conventional banks. ITS has been ranked as one of the top three companies worldwide that are considered T1 Islamic Solutions providers. The ITS ETHIX financial solutions are a certified Islamic Finance Module and comply with AAOIFI standards. ITS is also the only company globally to convert banks from conventional to Islamic systems, as noted in the "Gartner Report" of July 2010. For more information, please visit

    About Cavmont Bank
    Cavmont Bank Ltd (CBL) is a Registered Commercial bank in Zambia with approximately 20,000 clients and 206 employees. The bank was established on 1 January 2004, following a merger between Cavmont Merchant Bank Ltd, (inc. October 1992), and New Capital Bank Plc., (inc. June 1992). Cavmont Bank has 15 branches located in Lusaka (5), Chingola, Ndola, Kitwe, Mbala, Mpulungu, Solwezi, Chipata, Kasama, Mansa and Mufumbwe.

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