Quick Takes

Clickatell Empowers WhatsApp Banking

Clickatell, an authorised WhatsApp Business Solution provider has announced that United Bank for Africa (UBA) will be going live with the bank’s Chat Banking solution – Leo on WhatsApp.

With this, customers can now conduct their banking activities in a secure and convenient manner, by communicating with their bank in a verified WhatsApp chat. This capability, was made possible through Clickatell Transact’s .Control platform integrated with the WhatsApp Business API.

According to a statement, the .Control platform for Chat Banking allows banks to roll out commonly used banking activities like checking balances, money transfer and purchasing digital products and services across popular communication channels like USSD and now WhatsApp. The platform offers flexibility, reliability, fraud and risk management for banks and a convenient on demand banking capability for consumers wherever they are.

Nigeria is recognised as ground zero for global financial inclusion with a rapid accelerating move from the informal economy to the formal sector. The EFInA Access to Financial Services 2016 Survey, had revealed that 48.6 per cent or 46.9 million Nigerians, of the adult population are now formally served by banks or similar.

“The introduction of Chat Banking from Clickatell is accelerating the banking adoption curve by eliminating the business and operational overhead required to roll out convenience banking across popular communication channels and in different countries.

“The ground-breaking banking platform launches in Nigeria with UBA. Consumers will be able to conduct their banking activities on WhatsApp and USSD with additional channels slated for 2019.