Access Bank Unveils Plans For Multi-Channel Banking Platforms

Aigboje Aig-Imoukhuede, Group Managing Director/Chief Executive Officer, Access Bank

Access Bank Plc has said it will explore multi-channel banking and retail franchise platform as part of its goals to move to the next level.

The bank also said by 2015, it hoped to have become a diversified, “high-performing bank” in the country, using technology as a competitive advantage.

As a result, the bank is targeting one million mobile phone customers in the next 12 months.

The Group Managing Director/Chief Executive Officer of the bank, Mr. Aigboje Aig-Imoukhuede, who stated this in Lagos on Saturday, also said the financial institution was on course towards becoming “customer- centered and dominant in corporate banking.”

He said, “The future is about retail franchise; among other things, we will introduce solutions that will allow companies to move money in different accounts to consolidate into one through the computer.”

“By 2018, we want to be described as the world’s most respected African bank, operating multi-channel banking. For individuals, they will be able to do all their transactions without visiting the bank. You will see real time what is happening to your account from the comfort of your home or office.”

Explaining how it will achieve some of the lofty goals, Aig-Imoukhuede said the bank had segmented its Nigerian and foreign markets to different needs in order to design products for the various segments.

African economies, he said, had benefitted from greater democratization and policy consistency, which have in turn improved the fortunes of the banking sector.

According to him, Africa central banks are more independent and this has led to macro-economic stability in the last 10 to 15 years.

He  noted, “North America and Europe will get their acts together; therefore we must do the right thing. We have benefitted more because of these problems. BRICS nations are going through severe challenges; they are doing monetary tightening by raising interest rates.

“Nigerian is wholly dependent on oil for foreign exchange. We monetise the forex as it goes into an account for the tiers of government to share. Because we are not manufacturing locally, any depreciation of the naira affects the economy, leading to loan defaults.”

Aig-Imoukhuede, however, said the bank was focusing on micro, small and medium scale enterprises, as part it plans to boost the economy.

According to him, the company has created over 200 initiatives which will position it as market leader.

The CEO said bank was also planning a multilingual contact centre and a 24/7 e-banking branches and social media banking.

He said, “Through rigorous research we have segmented the Nigerian public and discovered the different needs and requirements of numerous segments.

“We have customised our products, services and relationship management to fit each segment; we have invested in tools and skills to ensure that all segments enjoy a delightful banking experience; and we have over 200 new initiatives which will position us as customer service leaders.”

He said within the next five years, the bank plans to become a leader in Ghana and the preferred African bank in the in the United Kingdom.

He said, “Knowing our customers is at the heart of our business model. Working with some of the world’s biggest companies, we grow their business by empowering their employees, suppliers and distributors.

“We are giving millions of individuals the power of banking. We want to develop the society around us, supporting local entrepreneurs and investing in communities. As major funders of business, we use our influence to make sure companies become more sustainable by raising their standards in this area.”

He added, “By being a flag-bearer for responsible business, we’re setting new standards for the industry. We actively work with the government to create the policies which will lead to economic prosperity.

“Our ambition is to be the worlds’ most respected African bank. We hope we can be part of a change, pushing for a society that functions well, and is fair and transparent.”