How Financial Services Start-Up Ithala Seeks To Provide Innovative And Responsive Financial Services
How Financial Services Start-Up Ithala Seeks To Provide Innovative And Responsive Financial Services. Ithala SOC Limited, licensed financial services and registered credit provider, is a 100% owned subsidiary of Ithala Development Finance Corporation Limited, and is listed as a public entity in terms of Schedule 3 of the PFMA.
The company’s purpose is to provide financial services to the people of KwaZulu-Natal, thereby contributing to the province’s socio-economic development. Its physical footprint spans the entire province of KwaZulu-Natal and, in some rural areas, it still remains the only financial institution with a physical presence. The company’s vision is to be an innovative and responsive financial services institution serving the people of South Africa. The company’s mission is to provide banking and insurance products and services focusing on Corporate and Retail customers.
Ithala has values such as respect as it treats each and every person the same way that it would expect to be treated; Innovation as it aims to become part of the solution by coming up with ways of making things happen; Integrity as the company plans to always do what’s right, no matter what. The company seeks to always put itself in the customer’s shoes and deliver exceptional service all the time. It goes the extra mile to ensure that everybody has an opportunity to influence or make decisions which will improve its business engagement with its stakeholders. Ithala ensures that it provides an environment that is fair and non-biased, no matter the gender or creed of a person, in accordance with best practices.
Its mandate is to provide access to financial products and services in areas where such offerings have previously been unavailable. As part of its essential products and services bouquet, the company aims to provide the following via a multi-channel distribution network to individuals, groups, businesses and other public sector entities: Transactional Banking; Electronic Banking; Insurance; Lending; Public Sector Finance; Savings and Investments.
