Driven by a passion for financial technology in a cashless economy, most banks have opened up more technology channels that will enhance ease of financial transactions among bank customers.
First Bank of Nigeria Limited, for instance, has carefully studied the trends in the financial sector and has rolled out several technology channels and solutions to boost customer experience. Recently, the bank created exciting new features on its First Mobile application to enhance security and customers’ digital banking experience. The new features are: The Card-in-Control functionality, the Quick Response (QR) Code, the Transaction receipt and Save beneficiary functions.
The features, which are unique to First Bank, bring a lot of ease to financial transactions on the First Bank platform, making it a truly digital bank with a focus on future technology that will shape financial transactions in the country.
Building on innovation
Technology evolution has compelled financial institutions in the country to become more innovative in order to survive competition in the technology world. The innovation has, however, become more pronounced, following the emergence of Financial Technology (FinTech) players that are currently disrupting old ways of financial transactions across all financial platforms.
In order to expose its customers to new technology innovations in the banking sector, First Bank, in partnership with Visa, recently launched its mVisa mobile payments solution. The solution allows customers pay for goods and services by scanning a QR code using a smartphone via the First Mobile App. Payment goes straight from the consumer’s First Bank account into the merchant’s account and provides real-time notification to both parties.
Customers with the First Mobile app can make payments from their First Bank accounts at merchants’ locations where mVisa logo is displayed.
Giving details of the app, the Group Head, E-Business, First Bank of Nigeria Limited, Chuma Ezirim, said the bank would continue to put customers first by leading the industry in the use of technology to provide convenient and fast banking solutions. Partnering Visa to deliver mVisa is part of the First Bank’s strategy to deliver reliable, secure and convenient payment options to its esteemed customers. It further promotes our digital approach by delivering an omni-channel experience to all our customers, while enhancing our existing offerings,” Ezirim reiterated. Speaking at the launch of mVisa, the President of Visa, sub-Saharan Africa, Andrew Torre, said: “We are thrilled to have First Bank as one of our key partners in bringing mVisa to Nigeria. Consumers and merchants will experience the speed, convenience and security that mVisa brings when making everyday purchases.”
The mVisa is a payment solution fully integrated into the First mobile app to support business transactions and lifestyles of First Bank customers. Existing users of the First mobile application can update their banking app from Google Play store, Blackberry World and Apple store to enable them to access the service, while First Bank account holders who do not have the First mobile app yet can simply download the app and begin to enjoy the service instantly. Aside from the First Mobile app, the bank also launched its website to further enhance its service delivery to customers.
The new website is adaptive and responsive and has a multi-reel estate billboard homepage with one-click access to information.
The website is feature rich with mortgage and loan calculators, a currency converter and a Google maps integrated branch locator. Built for the digital age, it is easy to access and navigate for the average multi-screen user. Visitors to the website can find any information they seek on the website in few minutes simple clicks. Its mobile enabled features make it perfect for the always-on-the-move generation.
Building on global technology evolution
Satisfied with the innovative experience that the new website is creating for the bank customers, the bank said the new website is considered a unique evolution for the lender in terms of information and interactive services available for customers, investors, shareholders and the global community.
Group Head, Marketing and Corporate Communications, First Bank, Mrs Folake Ani-Mumuney, announced that the site, which is a quantum leap from the old website, can be accessed via the new URL https://www.firstbanknigeria.com from any internet enabled a device with a functional browser. Speaking further, she said: “The launch of a refreshed website comes in line with measures that the bank has taken to execute its digital banking strategy that aims to progress all facets of its activities in line with global best practices.”
She further explained that First Bank has benefited from modern technology tools to ensure a solid technical foundation for the new site, which would see continuous enhancements in the coming months to enhance the effectiveness of its operations and provide all key information needed by customers, investors and other visitors of the website to make investment decisions and have a better customer experience.