“We use agency banking to stimulate entrepreneurship and wealth creation” – Ecobank – Nairametrics

Ecobank Nigeria says its vision of using the branch banking program to stimulate entrepreneurship, provide employment opportunities and support micro, small and medium enterprises (MSMEs) is bearing fruit as more than 32,000 Nigerians , including former employees and retirees, have embraced the program to support their daily lives. . According to the bank, in addition to helping drive its financial inclusion strategy in Nigeria, officers have been empowered to build wealth and enjoy financial freedom.

Olanike Kolawole, Head of Agency Banking Services, Ecobank Nigeria, said this while responding to questions from the media in Lagos. According to Kolawole, the customer experience is very good because customers can do the simple deposit, payment and transfers in their own neighborhood rather than going for hours at a bank branch.

“These are all elements of our efforts as a bank to help more Nigerians embrace entrepreneurship as the best strategy to fight poverty and tackle growing unemployment. We are happy with our agency banking providers, also known as point Xpress agents, knowing that they play a vital role in helping us reach out to the unbanked and underbanked people of society. They bring more people into the banking space with their services. They carry out financial transactions on our behalf and receive a commission on each transaction processed. Also, the Xpress Point is also a channel which is also used for the deployment of the government’s national social intervention programs ”. She said

Nike Kolawole has cataloged the services offered by point Xpress agents as cashing, withdrawing, transferring funds, paying bills, airtime recharging, depositing and opening an account, among others. She said the services are available to “sole proprietorships, partnerships, cooperative societies, microfinance banks, businesses with a large distribution network – such as gas stations, FMCGs, telecommunications companies, super agents, aggregators and unregistered businesses such as small traders, hair salons and others.

Ecobank boasts of a bouquet of digital channels comprising solutions aimed at providing convenient, accessible and reliable financial services. The USSD platform: * 326 #, allows you to open an Xpress account and an Xpress Save account instantly. The bank’s mobile banking application, Ecobank Mobile, offers the possibility of generating a virtual card; this is convenient because customers continually turn to online payments for their purchases. There is also the Ecobank virtual card, which offers the flexibility and convenience of creating a purchasing card that is not linked to a customer’s account but is fully capable of making payments online. The virtual card can also be shared with your loved ones as a gift card for their own purchases


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