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Banking behaviour has changed, led to innovations – FirstBank




Lagos, April 23, 2019 The First Bank of Nigeria on Tuesday described WhatsApp banking as a veritable tool for customer and user experience.

The bank also said in Lagos that the future of such experience in the African banking sector would be driven by specific trends that would ultimately lead to unlocking of enormous potential in the financial services  sector.

The Managing Director and Chief Executive Officer of the bank, Mr Adesola Adeduntan, made the assertion  at the Future Banking Tech West Africa Conference in Lagos.

The News Agency of Nigeria reports that the Future Banking Technology conference is aimed at addressing the full value chain of the region’s banking and financial sector to best achieve financial inclusion and sustainable growth.

It has the mandates to achieve financial inclusion across West Africa by 2020.

Adeduntan who was represented by the Head of Global Custody, FirstBank, Mr Timi George, spoke  on: ”The Future of Customers Experience and Users Experience in West Africa’s Banking Sector”.

According to him, the changes in the banking landscape should make everyone to be prepared at all times.

“At FirstBank, we have staunch support for the future of the banking industry.

“Banking behaviour has changed as well as attitude toward banks and expectations which led to innovations.

“As a forward-looking and innovation-driven organisation, FirstBank is already using WhatsApp banking solutions to deliver unique customer and user experience.

“FirstBank Chatbanking delivers improved customer experience by enabling customers to seamlessly and securely perform banking transaction via the everyday messaging platform.

“The banking solutions have to do with making bank transfers, paying bills, buying airtime and data, checking account balance and basic inquiries,” he said.

Adeduntan added that FirstBank WhatsApp was enabled by innovative digital and data technologies such as digital security protocols, chatbots, artificial intelligence and big data analytics, to drive improved customer and user experience.

He listed the trends that would lead to unlocking of potential in the finance services sector to include switching from selling to serving, providing solutions instead of  features, connecting emotionally instead of providing information, focusing on disruption instead of protection, and creating flow and avoiding fragmentation.

“The bank customers of now, as well as future are seeking realtime interactions and pin-point accurate, personalised engagement.

“The banks that are winning and will win in the future are those that are able to deliver on both fronts for the customers through unique capabilities.

“The unique capabilities are mobile and digital advantage, action, omni channel experience, connected network advantage and big data analytics.

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