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First Capital Completes Migration From Barclays, Offers New Products

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By Alois Vinga


LEADING financial institution, First Capital Bank (FCB) has finally completed the migration exercise from Barclays amid the launch of products aimed at meeting clients’ broad needs.

Speaking during a NewZim TV’s Economic Insights programme, FCB chief finance officer, Taitos Mukuku said the long migration journey had finally been completed.

“When FMB Capital Holdings acquired stake from Barclays we went on to operate under the latter’s brand for a year up to October 2018. From that period onwards, we were under cooperation and traded in association with Barclays and this period lasted until October 2020.

“Since then, we have engaged on the final milestone to the migration under the new brand proudly being the First Capital brand. So from a transition point of view, we are largely done with migration of information communication technology systems,” Mukuku said.

He said the latest development marked the last phase of migration and was completed successfully without any outstanding residual issues from a transition perspective.

“As an organisation we are now consistently looking for innovative ways to achieve service excellence for our customers. Our purpose is to enable customers to achieve the extraordinary through our unique service and product offering,” said Mukuku.

Guided by this endeavour the bank has partnered with RIA Money Transfer Services becoming one of a few local banks providing money transfer services at a large magnitude enabling receipt of foreign currency through a diverse branch network system.

Mukuku said the bank had also launched Infinipay, a simple and efficient online bulk payment platform which enables customers to initiate payments to accounts within and outside First Capital Bank. The product is available to individuals and corporates who require a convenient and digital bulk payment solution.

“We have also resuscitated our ATM service offering to provide an alternative way to transact for our customers in our continued efforts to achieve service excellence. You are now able to access Zimbabwe dollars and, or foreign currency using internationally issued cards from select locations.”