BY PRINCEWILL EKWUJURU
Before the advent of Commercial banking, people had been saving traditionally, using the piggy bank method, either made of metal, clay or wooden box, with a tiny hole created at the middle to allow for deposits into the box.

But  if you  have been watching the cable satellite television; DSTV on channel 305, that airs Nicklelodeon  or the local TV station, STV,  you would have come in contact with  Dora the explorer, the famous animated pre-school heroine and cartoon character, was all  Access bank required to  remind parents that their children/wards needed an account that would take care of their future in case of eventualities.

In the past, this type of saving was carried out primarily by children when given a dash by parents, uncles, friends and brothers, in monetary term.

With time, this nature of local banking disappeared  with the coming of commercial banking powered by advanced technology, reason was, banks no longer think along the line of inculcating  saving culture in customers, particularly children, banks rather talked about the unbanked, leaving investments in children and children product (s).

Today, that lag in banking seems to being exploited by  Access bank, who is nipping the bud and realizing there’s  business in children banking, whilst trying to redefine and demonstrates its understanding of consumer insight through the launch of Access Early Savers  in partnership with Dora the explorer who celebrated her birthday, inviting the children whose future she is guiding.

Consequently from  what can be deduced the bank had viewed the product as an institutional commitment to nation building and economic empowerment of the future.

This, however suggests that the children-focused product is in a different class amongst the several financial services products in the market as it has captured the hearts and minds of the younger savers. Similarly, the appeal derivable from its association with Dora the Explorer is pleasing to the children and resonates with them perfectly.

The product launch evidenced this as children who attended Dora’s birthday celebration held on September 23rd and 24th respectively, were excited and could not believe Dora’s presence.

The product, first of its kind in Nigeria banking system, particularly in children segment, has established Access bank as an industry leader in terms of pioneering initiative and setting standards for the Nigerian banking sector.

Beyond the birthday celebration however, is the legacy the product left in the unbanked segment of the Nigerian economy, particularly children 0 -9.

The product which is designed to inculcate saving culture in children and equip them with the financial literacy, was developed to make banking process simple and fun; Educate children about banking in an engaging fashion and seeks to partner account holders from childhood to adulthood, and create a platform for understanding of their financial  transaction and process.