The Pan African Bank, Ecobank has planned to close several of her branches in East Africa as it seeks a winning formula.
across in Kenya, the bank has already announced plans to close nine of its 29 branches, and encourage more clients to shift to digital banking. The affected branches will close by 30th April 2017. The central bank requires banks intending to close a branch to among others give a six month notice to her customers. The affected branches include: Chambers, Ongata Rongai, Gikomba, Embakasi, Thika Road Mall, Meru, Kitale, Busia and Malindi.
“The decision to close the nine branches was arrived at early this year after we reviewed our business operating model and elected to use more effective and efficient ways of serving our customers – like digital banking,” said Ecobank Kenya Manging director and Regional Executive, Sam Adjei.
Ecobank Mobile App, on which the digital drive is hinged, is set to be rolled out in Kenya before the end of November 2016. Eco bank which opened her doors in Kenya eight years ago, only turned profitable last year. In Uganda, six years later, the bank is yet to break even.
|
Ecobank Mobile App, an instant and convenient way of banking via the mobile phone. It is the first unified app delivered by any institution for use in 33 countries.
Group CEO, unveiled the new App at a large product launch in Lagos, which brought together a wide range of customers, including students, various professionals, traders and transporters. Ecobank board members, shareholders, staff and media were also present at the event.
The App uniquely leverages the power of digital to deliver real convenience to customers. The App gives Ecobank the scale and capacity to achieve its target of attaining 100 million customers in a profitable and sustainable way.
The new App enables customers to open a new digital account with no more than a few clicks, with no paper references.
Ade Ayeyemi said: “The Ecobank Mobile App opens up opportunities for customers by allowing them to shop, transact and do business without cash. At scale, this will be transformational for Africa. Through its purchasing power and Ecobank’s partnerships with Visa and Mastercard, the Ecobank Mobile App will be an accepted means of payment. With its removal of barriers to entry and affordable price points, the Ecobank Mobile App will empower the consumer to be on the move.”
Ecobank’s Group Executive for Consumer Banking, Patrick Akinwuntan, said: “This product launch fulfils our promise to create relevant solutions for consumers. With the Ecobank Mobile App, Ecobank customers can now make and receive instant payments across 33 African countries on their mobile devices. They can also pay in store with their mobile phones. This is genuine convenience delivered to our consumers.”
At the launch, Mr. Akinwuntan demonstrated how to make a payment, how to send funds, and how to receive money from merchants using Ecobank Masterpass QR technology. He also showed that opening an XpressAccount was an instant and easy transaction.
Ecobank Nigeria’s Managing Director, Charles Kié, said: “Nigeria is a leading hub for entrepreneurship and technology for Ecobank. This is why we chose Lagos as the venue to launch the Ecobank Mobile App. This new product will allow customers in Nigeria and other affiliates across our vast network, to grow their businesses by giving them a convenient and secure way of banking.”
The innovative new platform reduces the need to carry cash. It gives customers the opportunity to deposit money through a mobile transfer. |
