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Banks push customers towards self service in the “new normal” 

Nigerian Banks have taken to their media spaces to air their previously ignored innovations.



Q1 2020, Disrupting Nigerian banks, Evolution of Nigerian banks in 59-years , GTB, UBA, Zenith, Access Banks’ salary advance loans, Can a company operate without a website in 2019? , Banks refund N3.09 billion to customers over claims on excess charges, fraud, others  , Bank CEOs applaud NCC’s decision to suspend USSD charges, GTBank, Zenith, Access, FBN, 10 others spend over N8 billion on CSR, Banking: Evolving trends in the bankers’ market, GTBank, Access, FBNH, Standard Chartered wrestle over women entrepreneurs , GTBank, Access Bank, Zenith, FBN, 16 others disburse CBN’s N610.4 billion to farmers , Credit to government declines, as Credit to private sector hits N25.8 trillion, Banking sector NPLs down, loans up, Non-Performing Loans in Agriculture, construction, others rose to N143.76 billion, Asset seizure: Banks begins recovery of N6.125 trillion borrowed to the oil sector, Customer Experience: GTB, FCMB, Citibank, others emerge best banks in 2019, Nigeria’s top 5 banks spent more than N40 billion on adverts in 2019, Nigerian banks face risky future over low oil prices, coronavirus, Testing the financial strength of Nigerian banks

It’s the “new normal” again.

If the pandemic had a manifesto its number one point would have been to change the way we do business, and it definitely has succeeded in doing just that as it is the motivation behind hundreds of innovations and strategies seeking to leverage IT to render services and solutions that hitherto had to be carried out by personnel on a face to face basis. Hence the ubiquitous caption “new normal” In business.

After years of the self-service options on their applications being ignored, Nigerian Banks not to be left out when the word innovation is mentioned have taken to their media spaces to air their previously ignored innovations that enable their customers transact remotely. Apart from the usual balance check, bills payment and fund transfer services that their apps are known for, here is a rundown of a list of services available across most Nigerian Banks’ applications:

Investment services.

Compare fixed deposit rates across Banks from the comfort of your home by logging in and out of their different applications before you place your funds- all online of course. Treasury bills investments are not left out too.

Not cut out for conventional investments as these, no problems. Most Banks have you covered in the most traditional way by giving you a platform to organize contributions with your family and friends. Yes, ajoo or esusu is available on most platforms.

READ MORE: Software security limitations cited as major reason for Covid-19 bank rush

Cheque services.

You know the ego trip you feel whenever your account officer calls you to confirm your cheque, the Banks have conspired to take it away by providing a cheque confirmation feature on their apps.

I know you won’t subscribe to this if you are anything like me, but the other cheque services such as cheque book requests, stop orders, cheque number validity and Manager’s Cheque requests still make this service worth your while.

Card services.

Only a handful of people know that they can make card requests and deactivate/activate their cards on their Bank apps. Congratulations, you are now part of that handful.

Other services.

You can open an account, monitor your trade transactions, pay staff salaries, schedule bill payments, receive third-party international transfers, make international transfers, download bank statements, locate the closest branch, make loan applications and register your complaints via your bank app.

READ MORE: DiamondXtra: Access Bank rewards customers in trying times

The banks even go the extra mile of using app notifications to update you concerning recent industry developments and security tips knowing the effort you have put in ignoring the countless SMS and mails they have sent to this effect. All these in an effort for you to keep your distance and bank from home.

When in 2015, Bill Gates posed the question of whether Bank accounts could be opened without physically coming to the Bank, it seemed a little farfetched. Now it’s clear that the days are gone when footfall at a Bank’s branch were a sign of their market share, it is about the number of downloads of its apps and its usage hence the push by these Banks for their customers to use these apps even as they strive to make them more efficient.

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This is the “new normal”.



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Kelly Zolonye Ushedo is passionate about Banking, and simplifying complex issues around personal finance and start-ups. He has over 8years experience in various job functions in the Banking industry across top Banks. Follow @Zolonye on Twitter.

1 Comment

1 Comment

  1. DamDam

    June 18, 2020 at 10:32 am

    with all the IT investments one still has to visit the banks to get new cards. why do they request address and other details in the first place..

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