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Banking Sector

FirstBank Launches New Improved Website to Ease Banking Services, Increase Financial Inclusion

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FirstBank New Website - Investors King

FirstBank, Nigeria’s leading financial institution, has unveiled its new improved corporate website designed to enhance service delivery, increase access and promote financial inclusion across the country.

The easy to use website was developed with improved functionality that covers all FirstBank units from Account Opening to Cards (Prepaid, Debit and Credit Cards); Loans; Foreign Transfers; E-Solutions (FirstPay, FirstBillsPay, POS Terminal etc) and Payments of Taxes & Duties; Bills & Utilities; School Solutions; Collections and Trade.

On ease of banking, the website was redesigned with better user-friendly navigation, speed and security to ensure transactions are done just-in-time and in a secure technological environment.

Customers can now open a functioning bank account within 5 minutes on their mobile devices and experience top-notch convenience. The website has been upgraded with a smoother experience on funds transfer, bill payments and airtime transactions as customers can add and delete beneficiaries without having to repeatedly enter the recipients’ details over and over again. Users can also take a photo or select from the Avatar (available icons) to personalize their dashboard and beneficiaries for Transfers, Bills Payment & Airtime Transactions by uploading a picture to associate with their beneficiary, especially the more frequent ones.

The dashboard has been designed to reflect the lifestyle and social pattern of the user as it can be customized by adding any profile picture of choice. The dashboard also enables users to monitor their spending patterns over a period. It shows the inflow and outflow of funds on their account.

The new website also includes Agent Banking, an initiative by FirstBank that brings financial services to the unbanked and underbanked segment of the society by empowering existing businesses within the communities to deliver these bank services.

With over 100,000 Agents across the nation, it is no surprise why the leading financial institution is spending billions to deepen financial inclusion and ensure more Nigerians can access financial services at a near-zero fee. In 2020, Firstmonie Agents processed over 295 million transactions with a total value of N6.65 trillion and opened more than 196,000 accounts in 774 local governments.

Therefore, in order to make sure more people in the unbanked population join the growing financial system and take advantage of FirstBank numerous financial opportunities, security, affordable loans, top-notch customer service, etc, the lender has redesigned its website with an onboarding form for potential Firstmonie Agents to apply from the comfort of their home without queuing in the bank.

It is almost impossible to effectively take advantage of numerous financial opportunities, make the right investment calls and manage money without the right education, this FirstBank knows better, therefore, a section of the new website has been dedicated to teaching customers, both existing and new customers, how to better manage money, invest and grow their investments.

Speaking on the launch of the new corporate website, Dr. Adesola Adeduntan, CEO of FirstBank Group, said that “as one of the key contact points to existing and potential customers, the Bank’s website remains a gateway to our business, supporting our unique value propositions and financial services solutions. As such, we are committed to continuously improve the overall user experience through intriguing content quality, exciting features and ease of navigation”.

Dr. Adesola Adeduntan - FirstBank CEO - Investors KingHe further stated that “the Bank’s new website will be updated on a regular basis with exciting features that will continue to reinforce the Bank’s resolve to promote digital customer interactions and transactions across our virtual touchpoints and platforms’’.

Concluding, he remarked that “the website will also serve as a financial services library that will keep customers and the public abreast of various financial services solutions and offerings, thereby helping them to improve their economic and social wellbeing.”

Adeduntan encouraged everyone to explore the new improved website and follow the Bank’s social media pages for updates.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Banking Sector

2021 NCOY: FirstBank Partners Junior Achievement Nigeria, Reiterates Commitment to Innovation and Education

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FirstBank New Website - Investors King

For 11 years, Nigeria’s premier and leading financial inclusion services provider, First Bank of Nigeria Limited has partnered with Junior Achievement Nigeria (JAN) to host its annual flagship event; the National Company of the Year competition (NCOY), which convenes winners of the JA Company Regional Competitions across Nigeria to compete for the National Company of the Year Award.

This year, the event will bring together outstanding ‘student business teams’ across Nigeria to compete for prizes and an opportunity to represent the country at the national competition – JA African Company of the Year Competition (ACOY). The 2021 edition of the NCOY competition will be held virtually via Zoom meetings at 10am on Saturday, 27th November 2021.  Interested participants are to register via the link https://us06web.zoom.us/meeting/register/tZEtd-qvqz4pE90NXOHcy-tve6aEXpY_yYAE

The competition themed ‘Innovation with Grit’ will have 12 teams from 12 schools pitch their innovations to a team of 5 guests judges. The represented schools at the competition include: The Seer company from Alvana High School; Sonic Informatics company from Heritage Global Academy; Nexus Queens company from Queens School; JA Stars from Theological College of Northern Nigeria (TCNN); Amazing Amazon Students from Government Girls’ Secondary School, Abaji; KereTerra Company from Secondary School Etoi, Uyo and The Exploit thinkers from Taidob College.

Other teams competing include: Mystic Global Company from Rosa Mystica High School, Agulu;  PetraMech Tech from Petra Schools; The Amazing Inventors from Government Secondary School Tudun Wada; Blue crystal company from Methodist Girls school and the Artisans from Igbobi College.

Judges at the event include: Oludolapo Adigun, Group Head, Retail Banking Lagos & West First Bank of Nigeria Limited; Chidimma Juliana Okparah, Project Management Consultant (PMIEF); Sheila Ojei, Head of Communications Jobberman;  Gbenga Sesan, Executive Director of Paradigm Initiative and Simbo Olatoregun, Policy Programs Manager for Facebook in Africa. In attendance also is the Honourable Commissioner for Education Lagos State, Mrs. Folashade Adefisayo as a Special Guest.

The 2021 National Company of the Year Program will also feature SPARK Competition. SPARK as an initiative of First Bank of Nigeria Limited, is an acronym for Start Performing Acts of Random Kindness. SPARK reiterates the Bank’s commitment to institutionalise kindness in Nigeria by encouraging and amplifying a culture of kindness.

The SPARK competition will feature 15 finalist schools across Nigeria, whose CSR projects align with the Bank’s Corporate Responsibility and Sustainability pillars of Education, Welfare and Health, Financial inclusion and Responsible Lending and Procurement.

Speaking on the event, the Group Head, Marketing & Corporate Communications, Folake Ani-Mumuney said “FirstBank’s partnership under its Future First initiative with JA Nigeria Company programme has positively impacted over 100,000 people in different locations across the country in preparing and teaching them how to generate wealth, effectively manage it and how to apply entrepreneurial thinking to the workplace. Our commitment to fostering entrepreneurial development amongst youths is mainly the driving force behind our support of the National Company of the Year (NCOY) and Africa Company of the Year (ACOY) competitions in past 11 years”.

According to the Executive Director, JAN, ‘’the National Company of the Year Company competition provides our students with a platform to show how innovative they are while displaying their dexterity and grit especially as it relates to creating sustainable business solutions to problems in their immediate community. The students have learned critical skills during the implementation of the Company Programme and we are proud to celebrate them as they compete in the National competition. I would like to specially appreciate FirstBank Nigeria for their continued support and belief in the boundless potential of young Nigerians’’.

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Banking Sector

Unity Bank Targets Women; Launches Yanga Account

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Sola Sobowale unveiled as Unity Bank Brand Ambassador

In its bid to demonstrate increased commitment towards promoting financial inclusion and women empowerment, Nigeria’s retail lender, Unity Bank Plc has launched Yanga Account, a new retail product designed to deepen beneficial impact on Micro Small and Medium Enterprises, MSMEs operated by women in the mass market retail space.

As a product targeted to boost the Nigerian women entrepreneurs, the initiative was intended to create Yanga Experience, from promoting the business, capacity building to health insurance scheme for Yanga Account holders.

A statement by the Bank said that the benefits for signing up to Yanga Account are summed up as ‘The Yanga Experience’. This means that as we target every woman in the mass-market retail space, the Yanga account holders will enjoy many benefits including stress-free savings and investment, access to the services of dedicated Sales Agents, Agency Banking services close to the location of their businesses, special business seminar and training on how to grow business, access to microloans, customized debit cards and other bundled e-banking products.

Speaking at the launch of the product in Abuja on Tuesday, the Managing Director/Chief Executive Officer of Unity Bank Plc, Mrs. Tomi Somefun stated the “Yanga Account is being launched as a bold attempt to directly cater to women and their respective businesses.”

The Unity Bank Boss, therefore, asserted that the Account “is open to all market women in farming, fashion design, tailoring, frozen food, pastry and baking, cosmetics, jewellery designs and making, skincare, eateries and restaurants, etc. whether living in the communities or cities.”

“Yanga Account is conceived and designed for the financial literacy and empowerment of Nigerian women. It is about making sure that our women who make up 55% of the financially excluded Nigerians have access to basic and life-changing financial services.”

Recent research by Enhancing Financial Innovation & Access (EFInA) has shown that “Women need economic opportunities if countries are to realize the full potential of their human capital. Financial inclusion can benefit individuals, families, and businesses, supporting key outcomes such as GDP growth”.

Speaking further, Somefun said: “The Yanga account will also be incorporating an affordable Health insurance scheme not only as a part of the product bouquet underpinning the Bank’s belief in health and wellness which translate to wealth creation but also to drive insurance penetration which is presently at 2% in Nigeria. We, therefore, believe that this will provide essential ingredients to growing a business as well as adding greater value for Yanga account holders.

“At Unity Bank, through products like Yanga Account, we continue to align with the vision of the Central Bank of Nigerian and the financial services ecosystem to provide needed support for Nigerian women by enhancing access to wealth-creating opportunities in the financial services sector”.

Also, speaking, Group Head, Retail, SME Banking and E-Business, Unity Bank Plc, Mr. Funwa Akinmade said: “the official launch of the Yanga Account is an extremely important step for us as a Bank because it is one step that brings our services closer to Nigerian women as Unity Bank makes the efforts to further expand its retail footprints in the market.

“At Unity Bank Plc, we have devoted the past few years to constantly innovating with banking solutions to enable us to drive more financial inclusiveness in different market segments, but the Yanga Account is introduced as a bold attempt to directly cater to women and their respective businesses.

“Unity Yanga is a well-packaged banking product that combines several services that most small businesses owned by women will need to become profitable. We are optimistic that Nigerian women will embrace the Yanga Account and leverage its full benefits to grow their businesses.”

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Banking Sector

FirstBank Wins Private Bank Of The Year Award for 2021

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First Bank Of Nigeria

Popular financial institution, First Bank of Nigeria Limited, has been awarded the Private Bank of the year 2021 by Global Finance. Global Finance is the voice of the global market renowned for its comprehensive coverage and analysis of the financial industry, international business and global economy.

The leading financial institution with over 126 years in the banking sector was bestowed the Private Bank of the Year award for its excellent service delivery to customers, its dedication and commitment towards meeting the expectations of its customers whilst providing state of the art financial services to them, irrespective of where they are in the country. The awarding body also praised the bank for Its customer service which has been integral in fostering its relationship with customers.

We are delighted to dedicate this award to our customers as we appreciate their unrelenting patronage and loyalty over the years. We remain committed to utilising the best technology infrastructure in delivering the best wealth and financial management services to the doorstep of our customers, irrespective of where they are across the world. We appreciate Global Finance for the award,” Mr Gbenga Shobo, the Deputy Managing Director of the bank said while receiving the award on behalf of First Bank.

Global Finance seeks to help corporate leaders, bankers and investors chart the course of global business and finance. The Award was organised to identify the banks around the world that have excelled across several areas, including corporate governance, sustainability and innovation, and have played a key role in the industry’s growth.

Each year Global Finance selects the best financial institutions around the world in line with the recognised and trusted standards of excellence.

This year’s Global Finance award is one of the numerous awards that First Bank of Nigeria Limited has been awarded in 2021. This year, the bank has won, ‘’Retail Banking CEO of the Year Nigeria’’, ‘’Most innovative Retail Banking App Nigeria’’ and ‘’Best CSR Bank Nigeria’’ awards by Global Banking and Finance magazine

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