Ecobank, a leading Pan-African Bank in The
Gambia, on Saturday launched its newest products called Mobile App Banking and
Xpress Account, to provide simple and fast banking transactions to their
customers.
The product launch was attended by Ecobank
customers and partners, at a ceremony held at the Kairaba Beach Hotel in
Senegambia.
Ecobank’s digital platform enables its
customers to conduct simple and fast banking services, as millions of people in
Africa still do not have the most basic financial services that they need to
rely on every day.
These new products need No Bank Account; No
safe way to save money; No safe way to make payments.
The Ecobank Group is leveraging on the
power of digital technology to reach out to their customers, and their aim is
to reach 100 million customers by 2020.
Speaking at the launching, Minister of
Finance and Economic Affairs, Amadou Sanneh, expressed delight to join the
celebration for the successes registered by Ecobank over the years, adding that
the launching marks another milestone in the bank’s history.
He added that over the years Ecobank has
made a giant strive to making banking much easier and accessible, adding that
the Ecobank Mobile App is bringing banking closer to the fingertips of their
customers.
According to him, the launching is part of
the government’s support to promote ICT in The Gambia, noting that Ecobank has
been innovated in producing the Mobile App to reach their consumers “anywhere”.
“Most of the informal sectors are usually
afraid to enter a banking hall because they feel lost and completely out of
their comfort zone.
Ecobank Gambia has made it possible for a
person living as far as Koina to have access to banking to his/her doorsteps,”
he said.
The Finance minister also said that under
the leadership of President Barrow, the government would continue to create the
enabling environment where businesses would continue to expand, adding that
this establishes a partnership between banking and the telecommunications
industry.
Bernard Mendy, Chairman of Ecobank Board of
Directors, in his remarks on the occasion, said Ecobank’s digital platforms
enable simple and fast banking, and their digital platforms are the gateway to
transformation for businesses, merchants and individuals across Africa.
This is the first unified App delivered by
any institution for use in 33 countries, noting that Ecobank Digital offers
transformative solutions and is a game-changer.
“Digital erases inefficiencies, reduces
time and unlocks productivity.
With our footprint across 33 African
countries, Ecobank Digital can help you move money across borders, travel and
be unburdened by old-fashioned
bureaucracy,” he said.
Chairman Mendy revealed that Ecobank is
removing barriers to create borderless opportunities, saying: “Millions of
people in Africa still do not have even the most basic financial services that
you and I rely on every day. No bank
account; No safe way to save money; No safe way to make payments.”
He pointed out that Ecobank is leveraging
on the power of digital technology to reach out to these customers. “Our aim is
to reach 100 million customers by 2020,” he added.
Josephine Anan Ankomah, Ecobank Managing
Director, in her remarks, said the power of Ecobank’s Digital array is about
convenience, as they are making banking simpler and faster than ever before.
She added their range of digital products include Ecobank OMNI,
which is an internet banking platform for Corporates; Ecobank RIB, an
internet banking platform for Individuals; VISA Debit Cards as well as Ecobank
Mobile App and Ecobank Xpress account “With our wide array of digital products,
Ecobank customers can make payments and receive funds within Ecobank Gambia, in
other banks in The Gambia as well as across our affiliates in the 33 African
countries that Ecobank operates in with just a few clicks.”
According to the MD, their goal is to put
financial services at their customer’s fingertips, and ensure that banking is
more of a lifestyle choice than an inconvenience, noting that by leveraging the
power of digital technology, Ecobank is freeing customers up to live a simple life.
“The rising mobile adoption gives us a
glimpse of new possibilities and opportunities to better serve our customers
across the nation, and to ultimately deepen financial inclusion. We recognize
this and are committed to partnering with QCELL, AFRICELL, COMIUM, GAMCEL
GAMSWITCH and PURA to put the power of banking at your fingertips.”
Amadou Colley, Governor of Central Bank of
The Gambia, said at the function that launching the new Mobile App would help
to renew optimism about the country’s business environment and economic growth
prospects, as well as starts the journey together in restoring macroeconomic
stability.
He said The Gambia’s financial industry has
experienced unprecedented change over the past decade, adding that the change
has helped deepen financial intermediation, but access to and use of formal
financial services is still low.
“A significant proportion (about 80%) of
the Gambian population having no access to financial services, and conventional
banking in the form of retail branches and Automated Teller Machines (ATMs) is
too expensive to be cost effective in many areas; mobile money offers a game
changer for financial inclusion,” he said.
According to him, the Central Bank granted
approval for Ecobank to proceed because the App would revolutionize the
financial industry in an “unprecedented way”, adding that the CBG is satisfied
that the use of mobile phones will not undermine safety in the transfer and
receipt of money.
