Ecobank launches mobile banking app

Ecobank Transnational Inc [ETI] has launched a mobile banking application, creating instant and convenient banking services on the mobile phone across the bank's network in 33 countries.

The bank expects that this will be an instrument of transformation for Africa.

Mr. Ade Ayeyemi, ETI's group managing director/CEO, who unveiled the new product, said it is unique in terms of its unified features for use in 33 countries. This, he said, opens up opportunities for customers and the general public by enabling them to shop and conduct their businesses beyond national boundaries without carrying cash.

Adeyemi said the Ecobank Mobile App offers a purchasing power, which is empowered by the bank's partnership with Visa and Mastercard to provide an accepted means of payment. It dismantles barriers to businesses and empowers the consumer to be on the move, he said.

Ecobank Mobile App is described as an innovative, new platform that reduces the need for physical movement of cash. It is offered to provide the opportunity for people to move funds far and near through a mobile transfer.

The Mobile App represents a strategic move by Ecobank in its business development plan. It is a new capacity building instrument for the bank in striving to attain its target of 100 million customers, sustainable growth and profitability.

By delivering real convenience to customers, Ecobank Mobile App is expected to drive clientele growth for the bank in the years ahead.

The strategy is to grow the business by creating relevant solutions for customers. Mr. Patrick Akinwuntan, ETI's executive, consumer banking, said the launch of Ecobank Mobil App is a fulfillment of a promise of creating relevant solutions for consumers.

A unique feature of Ecobank Mobile App is the ability to open a new digital account by pushing the buttons of a phone with no requirement of paper references.

At the launch, Mr. Charles Kie, managing Director/CEO, Ecobank Nigeria, said, Lagos was chosen for the product launch because Nigeria is a leading hub for entrepreneurship and technology.

He said the convenient and secure way of banking, which the new product has offered, would enable customers in Nigeria to grow their businesses.