In its bid to take banking to the grassroot, Ecobank Nigeria has unveiled a new product called the Ecobank Xpress Account which will be used to attract over 100 million customers by 2020.
Mr Charles Kie, Managing Director Ecobank Nigeria, speaking at the unveiling ceremony in Lagos said this is part of Ecobank’s “Roadmap to Leadership Initiative”, where Ecobank is focused on becoming a force in the banking industry by leveraging its robust Digital Channels to drive financial inclusion for the un-banked in the different parts of Nigeria – urban, semi-urban and rural areas.
Mr. Kie emphasized that this new product will also enable the bank to meet its target of 100 million customers by 2020, of which 40 million will come from Nigeria.
Also speaking at the launch, Carol Oyedeji, Executive Director Consumer Banking of reeled out the benefits this account type offers. Which according to her include simple account opening process without any paper documentation or stringent form of identification; ability to immediately do transactions from the account and withdraw cash through the Xpress Cash via Ecobank Automated Teller Machine (ATM) or Ecobank Agent locations.
Describing the process of Xpress Cash, Mrs. Oyediji said it enables Ecobank customers withdraw cash from any of the over 1000 Ecobank ATMs without a card.
In her words “the customer simply generates a token pin (code) that enables him or her do a card-less withdrawal from any Ecobank ATM across the country or Ecobank agent. The token (code) generated can also be sent to anybody through text message or WhatsApp and the recipient can withdraw cash from the ATM or agent”.
The Ecobank Xpress Account is a Digital Account that is mobile based. It is simple and does not require any form of documentation for opening, therefore making it easy and convenient for all, while affording the customers the same services available to regular account holders.
The Ecobank Xpress Account can be opened on the Ecobank Mobile App by smartphone users and or via USSD for feature phone users.