With the continuous rise in mobile and internet banking across the financial sector of the Nigerian economy, bank customers are now requesting that more Automated Teller Machine (ATM) galleria be built in public places such as churches, mosques, shopping malls, schools, and eateries, where they could easily carryout financial transactions without visiting the banks.
Head, Consumer and Digital Banking at UBA, Dr. Yinka Adedeji who made the disclosure in Lagos recently, said technology evolution is fast changing consumer taste, thus compelling bank customers to demand for more ATM galleria, as against the initial demand to build more banks closer to the people in order to reduce congestion in banking halls.
Adedeji said more customers now use mobile devices such as mobile phones and tablets to carry out their banking transactions at any time of the day during the week, including weekends, without having the need to visit banking halls.
“The current situation, driven by technology evolution, has compelled UBA, for instance, to combine consumer banking with digital banking in order to meet the current needs of customers,” Adedeji said.
According to him, the current trend in the banking sector is that people no longer want banking halls, but they want banks that could enable them do banking transactions, using their mobile devices. Communities in urban and rural areas are no longer asking for bank branches, rather they are asking for more ATM galleria, since they can do cash withdrawals and cash deposits with their ATM cards. Many people are even fast migrating to the use of smartphones to do financial transactions without visiting the banking halls, he added.
Using UBA as an example, Adedeji said UBA alone records over N50 billion per month on internet and mobile money transactions, and that the bank recently came up with a target to raise the amount to over N100 billon per month, by the end of this year, which is the volume of transaction currently being generated with its over 1,800 ATMs spread across the country. He said the bank would meet up with the target by increasing security on its digital channel networks, especially with the mobile and internet banking channels.
“At the beginning of 2016, we at UBA tasked ourselves that the amount of money that is transacted through internet and mobile banking should equal the amount of money transacted through ATMs and we are getting there. By increasing security on our networks, we have seen increased volume of financial transactions in our mobile and internet banking channels,” Adedeji said.
Speaking about card issuance, designed to boost online financial transactions, Adedeji said: “UBA issues all types of debit and pre-paid cards, based on demand, and as of today, we have issued over seven million active cards to Nigerians. We issue Verve cards, Master cards, and Visa cards. The Master cards and Visa cards allows customers to carry out financial transactions outside the country without issues, because of the international features embedded in the cards.”
So UBA cards are flexible for shopping and for payment of bills when the customer is outside the country. What UBA does when it comes to payment of bills outside the county, is to guarantee the transaction and assures the merchants of payment, he said.
He further explained that the bank issues cards to customers within five minutes of request in the banking hall, and that there are plans currently exploring ways of mailing customers’ cards directly to their homes, and the customers will receive the cards without going to the banking hall.