Ecobank Nigeria on Monday unveiled Ecobank Xpress Account, describing it as a flagship digital product that would take banking to the grass roots.
The Ecobank Xpress Account is a digital account that is mobile based.
In a statement, the lender said the Ecobank Express Account “is simple and does not require any form of documentation for opening, therefore making it easy and convenient for all, while affording the customers the same services available to regular account holders.”
The Ecobank Xpress Account can be opened on the Ecobank Mobile App by smartphone users or via the USSD for featurephone users.
At the unveiling in Lagos, the Managing Director, Ecobank Nigeria, Mr. Charles Kie, said this was part of Ecobank’s “Road map to Leadership Initiative”, where Ecobank is focused on “becoming a force in the banking industry by leveraging its robust digital channels to drive financial inclusion for the un-banked in the different parts of Nigeria – urban, semi-urban and rural areas.”
Kie emphasised that the new product would also enable the bank to meet its group target of 100 million customers by 2020, of which 40 million would come from Nigeria.
Also speaking at the launch, the Executive Director, Consumer Banking, Ecobank Nigeria, Carol Oyedeji, listed the benefits of the account type.
They include simple account opening process without any paper documentation or stringent form of identification; ability to immediately do transactions from the account and withdraw cash through the Xpress Cash via Ecobank Automated Teller Machine or Ecobank Agent locations.
Describing the process of Xpress Cash, Oyediji said it enabled Ecobank customers to withdraw cash from any of the over 1,000 Ecobank ATMs without a card.
She said, “The customer simply generates a token pin (code) that enables him or her do a card-less withdrawal from any Ecobank ATM across the country or Ecobank agent. The token (code) generated can also be sent to anybody through a test message or WhatsApp and the recipient can withdraw cash from the ATM or agent.”