NIGERIA: FirstBank promotes virtual account

By Collins Nweze

First Bank of Nigeria Limited has reinforced its technology to enable anyone open an account through their mobile phones, without visiting any of its branches.

The account can be opened on its *894# USSD banking, FirstMobile as well as through the Direct Sales Executive (DSE) application installed on their mobile phone, ATMs and the bank’s over 55,000 FirstMonie Agents spread across the country.

With FirstBank’s *894# USSD banking, various banking are carried out on a mobile phone – across the four major GSM network operators in the country – without the use of the internet.

The FirstMonie Agent Banking is an agent banking initiative from the bank that is designed to take banking closer to people, thereby bridging the gap between the banked and unbanked.

FirstMonie is a channel through which various banking like FirstBank account opening, funds transfer, bill payments, data and call credit recharge services, amongst others are carried out.

The Agent Banking initiative has also contributed to reducing poverty, being responsible for the indirect employment of over 150,000 people across the country.

According to Chuma Ezirim, Group Executive, e-Business & Retail Products, First Bank of Nigeria Limited, “beyond opening an account in any of our over 700 branches, we are delighted with the investments at reinventing our business processes over the years, especially with the use of technology.

This has been critical to staying relevant in the industry for over 126 years and being the financial partner of the first choice to all our customers and Nigerians, irrespective of where they are.”

SOURCE: THE NATION