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Stakeholders chart course for development of mobile banking in Nigeria

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At a Mobile Banking Masterclass held in London for partner banks (Commercial and Microfinance) of eTranzact, stakeholders chart a course for the development of Mobile Banking in Nigeria.

At the Masterclass, eTranzact demoed their newly designed Mobile banking architecture with new interfaces and touch points that would accelerate adoption and integration into consumers lifestyle. New features were unveiled around onboarding, personalization, communication; introducing person to person messaging as well as other.

The Masterclass aimed to provide a platform to discuss new innovations in mobile banking targeted at making mobile banking more about the customer and launching new innovations to make the customer on-boarding process easier.

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Topics discussed ranged from how to improve the mobile banking experience for customers and innovations in providing support for customers, to unveiling eTranzact’s improvements in the onboarding process and mobile architecture of the mobile banking application.

With over 15 million smartphones currently in circulation in Nigeria and with efforts by the OEMs to increase this number by making smartphones even more affordable, mobile banking adoption in Nigeria has also increased, leading to the need to scale up technology resources as well as think up new ways to make the process easy for customers, and eTranzact has been heavily focused on building the infrastructural backbone of what is required to take mobile banking to new heights.

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Participants at the Mobile Banking Masterclass spoke extensively about some trends they had identified among their customers as well as possible ways they could improve the process.

Speaking about what the banks and their customers should begin to see immediately after the Masterclass, Mr Valentine Obi, CEO of eTranzact International PLC said: “To us, every product we build is ultimately about the customer whether at the corporate or individual level, and we want to ensure that we are meeting their needs both locally and globally, pushing ourselves every day. We understand the part we play in the growth of mobile banking and payments as a whole and through constructive feedback from our partners and innovation; we want to continue to play this role now and in the future.

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At eTranzact, we believe in using the power of technology to build bridges across continents and we will continue to invest in research and build up our capacity to achieve these goals”.

In his remark, Mr Adeyemi Adeyemo, Group Head, Business Development said; “We are excited about the steps we have taken to improve the overall experience of our partner banks and for their customers. We have a key role to play in driving innovation and we are ready to embrace it.

We come with major improvements in the mobile banking applications for all our partner banks and hope we can begin to roll out the changes as soon as possible. The changes not only cover the user interfaces of the different banks, but also try to merge the user’s lifestyle and improve the signup process for the application.  We are also working with all our partner banks to help them enjoy the full capability of the USSD platform for mobile banking.

As mobile banking becomes more segmented, the next step is to achieve greater personalization, and we want to make the user’s habits and needs focal points of the newly redesigned apps.

With our new onboarding process, we want to eliminate visits to bank branches so consumers can begin using mobile banking applications, while still maintaining the security of the platform”.

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