Kie: Ecobank Digital Channels Make Banking Cheaper, Faster

Ecobank Nigeria Limited has restated that it had invested in a state of the art mobile application that is fast and accessible and gives better transaction incentive to the users. The Managing Director of Ecobank, Charles Kie who made the remark, said with this strategy, the bank hopes to increase its customer base in Nigeria to over 40 million in the next five years. This represents 40 per cent of the 100 million customers target of the Ecobank Group.

This, he was quoted in a statement to have said was the bank’s strategy for financial inclusion, enabling more people do their banking transaction wherever and whenever without necessarily visiting the branches.

According to Kie, 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.”

He maintained that some of the significant steps already taken include the ability of every citizen to download the Ecobank mobile app and open an Ecobank Xpress account within minutes on the go.

“Also the Ecobank Mobile App enables customers do instant payments as well as do instant transfers across 33 countries in Africa. The Ecobank App, he reiterated is the first of its kind in Africa as it has an innovative payment solution, the Ecobank Masterpass that allows customers the convenience to pay for goods at merchant locations by simply scanning a QR code on their phones. Also Ecobank now has an enhanced Retail Internet Banking platform with much speed, stability and flexibility,” he added.

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 transaction.