Future of Banking: How Ecobank Digital Footprints Raise Customers Experience
Ecobank group, the Pan-African financial services supermarket, has been rated by customers as a strong force in digital banking services.
The group has been at the fore front of designing and implementing digital enable banking solutions that supports customers’ experience.
The lender’s digital channels support customers’ yearnings for comfort, convenience; economy, efficient and effective solutions for cash deposit, withdrawal, transfer and accessing credits.
Making withdrawals with carrying your debit card, transferring cash from anywhere and accessing credits has become easy with Ecobank cardless service, Omni Lite app, Rapidtransfer and women entrepreneurs financing initiative.
In the era of digital banking, customers experience and channels securities have become key performance indicators that determine operators’ success.
To the Pan-African lender with significant footprints across the continent, these are key to the design of its Omni Lite App, cardless concept, Rapidtransfer among other digital enabled financial products that give customers new banking experience.
Ecobank group continues to laying emphasis on giving its customers improved digital experience plus securities of its e-business channels.
The lender has raised bar on service excellence with updates on its bouquet of innovative services that deliver strong customers experience.
With an array of digital enabled channels, Ecobank remains miles ahead of its peers in customers’ services delivery.
Following on the new world economic order, digital payments are fast evolving, customers want seamless experience across channels.
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To support financial inclusion, Ecobank invested heavily on easy-to-use digital channels (ATMS, App, USSD, e-banking etc.) for payment of bills, withdrawal and transfer of cash.
Customers said Ecobank has proven to be ahead of the curve given the arrays of banking and financial services available to solving banking transactions and other related daily needs.
Attesting to this, in its first half result, e-business contributed significantly to the commercial bank earnings as customers demand for services on its channels increased significantly during total lockdown.
MarketForces customers’ survey showed that lender’s digital signature became even clearer during the total locked down as customers processed some trillion worth of transactions seamlessly.
Ecobank’ Xpress Cash enabled users to make a cardless withdrawal on ATM with just mobile phone. With Xpress cash, customers do not need their debit cards to make withdrawal across its 777 ATMs machines nationwide.
Cardless solution is seamless, secure and driven by the generation of a code (e-token) by an account holder.
All that customers need to do is to dial Ecobank’s USSD code *326# or the bank’s mobile app.
With Ecobank’s cardless service extending beyond its customers cycle, non-customers and even people without bank accounts can use it.
Speaking to cardless service on Ecobank’s ATMs, Head of Consumer Banking, Olukorede Demola-Adeniyi said the bank is committed to providing suitable options for its customers.
“Forgetting your card at home should not be a showstopper when you need cash”, she added.
Ecobank also emphasises that the cardless service recognises the needs of the banked. Customers can send money to unbanked relatives, or domestic staff by generating and sharing codes.
Explaining how the cardless ATMs transaction works, Demola-Adeniyi said: “As a bank, we are not only keen to make our services accessible, but also affordable. Xpress Cash attracts only a flat charge of N50.
“Our USSD code, *326# offers zero session charges and transfer of N5000 or less using Ecobank digital channels are absolutely free of charge”,
For businesses, Ecobank’s Omni Lite answers to customers yearning for secured, world-class electronic banking platform demand.
Omni Lite App was designed to help clients manage their business accounts online in secure, flexible, efficient and convenient manner.
Launched across 33 countries, the app is fully integrated multi-geography, multi-lingua and multi-currency online, web-based cash management platform.
Users can view their accounts and transactions in one place, make payments and bills with ease.
You can also set multi-users with different access launch, make and manage loan payment book time deposits and view exchange rates.
This electronic portal also allows customers manage all their online businesses, banking transactions and information.
With easier navigation and experience that is perfectly suited to smartphones, Ecobank says clients can enjoy features similar to desktop version.
Ecobank offers customers zero fees for money transfer on the Rapidtransfer app till 30th October, 2020.
The move which its Head, Consumer Banking Korede Demola-Adeniyi attributes to the Pan-African lender’s commitment to helping Nigerians abroad remitting money home to the loved ones.
Rapidtransfer is Ecobank’s proprietary money transfer service which enables users send funds across borders, affordably and instantaneously.
Again, due to group customer-centric culture, the app is available for use by Ecobank and non-Ecobank customers.
With Rapidtransfer, cash can be received directly into customers account or as cash at any Ecobank branch or its agent network that are spread across the nation.
By design, Rapidtransfer app delivers value to both sender and receivers gets value for each transaction.
Rates on Rapidtransfer are very competitive, Ecobank’s Demola-Adeniyi said in a statement.
The money transfer app allows customers to see prevailing exchange rate before customers transactions are consummated, thereby providing highest level of transparency.
“The total sum sent by a diaspora reaches home destination, without hidden charges”, Ecobank affirms.
To support gender diversity and economic prosperity of women folks, Ecobank also designed special loan package for female entrepreneurs.
Ecobank Female Entrepreneurs’ Initiative (EFEI) loan is specially designed by the bank to financially empower female business owners and entrepreneurs in the country.
This initiative is targeted at boosting the small and medium scale enterprises owned by women, a further demonstration of the importance Ecobank attaches to the role of women in economic growth and sustainability.
Speaking to the Initiative, Daberechi Effiong; Head of Consumer Asset Products at Ecobank Group said prospective female business owners could access credit with interest rates as low as 1 percent, nothing that the process of accessing the credit facility is easy and stress free.
“EFEI is one of our several ways of encouraging female entrepreneurs in the country. As a bank, we believe empowering women will enable them play their role better in the society and the economy.
“This loan would position them for increased participation, validation and contribution to their communities.
The terms and conditions for accessing the loan are simple and easy such that many female entrepreneurs could readily avail themselves of the opportunity and grow their businesses”, Effiong said.
Future of Banking: How Ecobank Digital Footprints Raise Customers Experience
