Cheers To HFC’s Good Year, And New Product

2017 has been marked as another successful year for the Home Finance Company  Ltd (HFC). Our only local bank celebrated its success yesterday and made a special announcement during a
15 Dec 2017 10:12
Cheers To HFC’s Good Year, And New Product
From left: HFC general manager Retail Banking Tony Ram, HFC chairman Tom Ricketts and HFC acting chief executive officer Raj Sharma at the HFC Bank Christmas Customer Cocktail on December 14, 2017.Photo: Monica Aguilar

2017 has been marked as another successful year for the Home Finance Company  Ltd (HFC).

Our only local bank celebrated its success yesterday and made a special announcement during a Christmas cocktail.

The bank launched its ‘e-lavo’ brand.

Piloted in September this year, the e-lavo service aims to provide customers with convenience and accessibility to basic banking services but in a more contemporary or modern way.

It is giving customers the freedom to bank ‘at their leisure’ through selected agency outlets Fiji-wide.

General manager Retail Banking Tony Ram said customers can take advantage of those agency outlets that offer flexible operating hours such as on weekends and even on public holidays (depending on the agent’s operating hours).

Through the e-lavo agency outlets, you can:

Open a new account

Make in-store purchases

Perform withdrawals and deposits

Perform local bank-to- bank transfers

Pay your bills

Top-up your mobile credit

Undertake mPaisa transfers

“E-lavo is a great platform for the rural, semi-urban and unbanked customers to open and maintain bank accounts from the comfort of their neighbourhood,” said Mr Ram.

HFC currently has 23 agents who are providing such banking services around the country.

At the moment, the bank is discussing with some of their clients in Seaqaqa and Tabia in Vanua Levu to act as agents too.

“Basically we are bringing banking to the people,” he said.

More than $1 million was invested into this project by the Pacific Financial Inclusion Programme for HFC, Newman and Vodafone to work on this project.

Mr Ram added that by next year, the bank’s services will be available to around 1000 outlets through supermarkets, Valuefone and so on.

Success and growth

“As we approach our 4th anniversary as a bank, I am proud to declare that we are currently ranked as the 4th largest Bank in Fiji with total assets of $827m, an 18 per cent growth from June 2016,” said HFC chairman Tom Ricketts.

HFC Bank completed three major projects this year to ensure enhanced customer experience and accessibility.

He added that the bank had also supported Fiji’s Presidency for COP23, with a contribution of $3.9 million by way of Green Bonds.

“We’re anticipating a more challenging and exciting year ahead with the introduction of more innovative products and services.

“We will be streamlining our preocesses and introducing international debit and credit cards,” he said.

The bank is also exploring a new Core Banking System that would improve the products and services.

The system will enable the bank to enhance their services particularly in Foreign Exchange and broaden their reach as a modern bank.

What does e-Lavo mean?

HFC Bank: The pyramid represents the most important elements of HFC Bank- their customers, staff, shareholders and community.

Accessibility: ‘e’ signifies HFC’s commitment to provide accessibility to their customers through the digital platform.

Money: ‘lavo’ in iTaukei means money. It is an ideal and recognisable element to reflect HFC Bank as the only local bank in Fiji.


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