Although technology has ushered in new ways  in the 21st century banking, there appears to be growing fear over Personal Identification,  PIN, theft among bank customers across the globe especially in Nigeria where  e-banking applications are attracting the attention of the customers. Robert Giles, Head of Transaction Banking, Diamond Bank PLC, in this interview with Emeka Aginam  spoke on a number of issues in the mobile banking and how  Diamond  mobile app and  its  revolutionary features  will eliminate PIN challenges in the banking sector

Excerpts

The Mobile App

The Diamond Mobile App gives customers the opportunity to carry out transaction banking, login to monitor their account, send money within and out Diamond Bank, pay PHCN bills, buying internet service bundles and buy airtime among others.

Every  lifestyle features like like booking a movie ticket and watching movie trailers before purchasing the ticket are embedded in the app, giving customers access to all they need to buy without going to the bank to get cash. For instance, with the app there is no need to get a scratch card for the internet.

Security of the app

Robert Giles

The App has two layers of security. Unlike cards and cheque books, a phone is something you keep very close to you. People do not forget their phones. The first level of security is the password people put on their phones. Secondly, the App is tied to a single device. At the point of download, authentication information is sent to the customer’s number. The customer has a personal identification number, PIN, to make transactions and immediately they log in, they get an e-mail and SMS to show that their account is being accessed on the App.

One of the security features on the Mobile App is the Touch ID. How does it affect user experience?

The Touch ID was integrated in response to users’ requests. People who use apple devices have been using Touch ID to make purchases on apple store. It is just a replacement of the PIN. When you are using a PIN there is always the fear of losing it. However, Touch ID eliminates the fear that someone will see your PIN. It is also faster. In essence, it is an additional feature for users.

Low penetration of mobile banking in Nigeria

Some of the more recent features on the app address accessibility. It is exciting and more interactive. The bank is investing in awareness. A lot of time is spent in digital business and we are demonstrating how to use the App to customers who come into the bank. The call centre is also educating those who call in.

Level of traffic so far

The number of transactions runs into millions every week which is in billions of naira. The most popular is airtime vending asides transferring funds between accounts.

How the app works and how much bandwidth  needed by a user

One of the first things you see when you look at the login page is that if the signal is not strong it won’t log the customer in. Transactions get real-time update, whether they are successful or not.  The  is available on iOS, Android and Blackberry devices which are very popular.

Transaction error and response time to correct  transaction error

Transactions on the mobile app are not supposed to fail.

Failed transactions are reversed immediately. The resolution of failure transactions across all channels is the same. Transaction details are also not stored on the phone as the phone is just a window to the bank system.

App market in Nigeria

Nigerians are fast adopters of technology and the smartphone market is increasing. There are apps for different types of social, religious, information and banking activities and almost all of them are developed in Nigeria for different app stores. It is a market that has great human development potential and there is a desire to increase online content development.

The  Mobile App and financial inclusion

All customers can access the App irrespective of the type of account they run. Financial inclusion is about access to finance. This includes people being able to transact from home regardless of their social status. It is important to talk about our mobile account, Diamond Yello Account, which enables people open bank accounts from their MTN mobile number. The Mobile App is very user-friendly and available to anybody.

Level of adoption among customers

The penetration rate is increasing. The bank has invested in training people and there is Wi-Fi in all branches for customers to download the app. The App has been repositioned so people can easily use it themselves.

User-interface for older people

My 60 year old mother started using a smartphone recently. Since she has access to the internet she has been able to teach herself quickly. My 3 year-old son uses the music Apps on my phones. There are old people using iPads and tablets. The technology is very intuitive and they are easily adopting it. The Diamond Mobile App is available to everybody irrespective of their age.

How much does the App cost?

It is actually free. We encourage customers to download and use the App. It is faster, easier and friendlier.

Looking at the app in the next five years

In the next 5 years, I would like to see all customers using electronic devices to service themselves. The prices of smartphones have become cheaper, the screens are getting better, costs of data plans are crashing. That means fewer people would be using the branches and cash flow would get round faster. The economy develops when money moves faster. It would also help increase people’s productivity. The App would also have changed in terms of functionality. Entertainment will continue to grow. Social media will be integrated in daily activities. It will deepen education as well.

Issues to resolve in mobile banking

Internet connection, Wi-Fi connection depends on power. Telecommunications companies should give priority to increasing data penetration. This is to ensure that there is stable data service. Consumer understanding is also key. It is not just about the technology. Customers should know that the platforms are there to protect them. Awareness regarding the security of the system is fundamental. Wide acceptance is important.