NBS Bank Plc says financial institutions must move beyond routine transactions and drive innovation if they are to keep pace with Malawi’s evolving economy, as the bank used the launch of its new Infinite Visa Card to make the case for a more forward-looking banking sector.
Speaking on Friday evening at the unveiling of the card in Lilongwe, NBS Bank Chief Executive Officer Temwani Simwaka said responding to the country’s changing economic landscape through innovation is the clearest path forward for banks, and that institutions should look beyond mere transactions to support something bigger.
“As Malawi’s economy continues to evolve, as financial institutions we must move beyond transactions and begin supporting something bigger,” Simwaka said.
“Our vision is never to be the greatest bank, but to be the most admired bank — a bank known for its innovation, its customer-centricity, and for setting standards that others aspire to and follow. But by then, we will already be several steps ahead.”
NBS Bank partnered with Visa to introduce the Infinite Visa Card, becoming the first bank in Malawi to offer the super-premium product. The card comes with elite travel rewards, concierge services, and lifestyle privileges, and Simwaka said the milestone reflects the bank’s commitment to anticipating customers’ needs rather than simply reacting to them.
NBS Bank Chief Wholesale Banking Officer Alfred Nhlema described the card as a high-end product that sits above the bank’s existing Platinum Card, tied to the bank’s broader shift from banking individuals to banking entire families.
“Once you open a family account with NBS Bank, you automatically qualify for the Infinite Card, which is unique because, apart from being used for everyday transactions, it comes with other functions and access rights,” Nhlema said.
“It is connected to about 1,290 airport lounges across the globe, and it also gives access to fast-track services at designated airports around the world.”
Nhlema said NBS Bank is treating innovation as a serious, ongoing priority and confirmed the bank is already working on further products beyond the Infinite Card. He urged other financial institutions in Malawi to embrace innovation as a way of bringing greater convenience and efficiency to the country’s banking system.
