Ecobank MD Stresses Importance of Digital Banking Channels

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  • Ecobank MD Stresses Importance of Digital Banking Channels

The Managing Director of Ecobank Nigeria, Mr. Charles Kie, says the pan-Africa lender has invested in mobile applications and digital channels as it steps up efforts to make banking activities simpler and cheaper.

He described this as the bank’s strategy for financial inclusion, enabling more people to do their banking transaction without necessarily visiting a physical branch.

Kie said the strategy would enable the lender to increase its customer base in Nigeria to over 40 million in the next five years, a statement issued by the lender in Lagos on Monday indicated.

This, according to him, represents 40 per cent of the 100 million customer- base target of the Ecobank Group.

“What financial inclusion means for Ecobank is the ability to allow more people into the banking space, doing their transactions in cheaper and quicker ways,” Kie said.

He maintained that some of the steps taken by the lender included the ability of every customer to download the Ecobank Mobile App and open an Ecobank Xpress Account within minutes on the go.

Also, the Ecobank Mobile App enables customers to do instant payments as well as do instant transfers across 33 countries in Africa.

The Ecobank App, he reiterated, was the first of its kind in Africa.

On why the bank decided to merge some of its branches, Kie maintained that customers do not need to get to a physical branch before doing their transactions.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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