Digitization: electronic Banking
The banking Industry is continuously re-inventing itself and spearheading practices and innovations that make banking easier, flexible and affordable.
Today, people can access bank services without necessarily going to the bank. Some of the latest digital platforms provided by financial institutions include;
Mobile Banking which can be accessed on one’s mobile phone and comes with a bouquet of services. Mobile Banking ensures that customers are able to enjoy banking anytime, anywhere, 7 days a week, 24 hours a day. Customers are able to bank at their convenience and access services like; make account inquiries, request for cheque books, request for full statements, pay utility bills, make forex rates requests, transfer funds from one account to another and top up airtime across any network. It has made access to services more immediate and reduced customer reliance on branch infrastructure or access to the Internet.
This is a teller-less, self service branch which enables our clients to undertake transactions like; cash and cheque deposits, online banking, funds transfer, phone banking among other things.
Telephone Banking is a service provided by a financial institution that enables customers to perform financial transactions over the phone, without the need to visit a bank branch or ATM. This involves clients calling into a financial institutions and request for Account Balances, Foreign Exchange (FX) rates and make general account inquiries.
Electronic (E) –statements
E-statements are now offered by most financial institutions and are accessible electronically. E-statements eliminate the need to print statements on paper and negate the need to deliver hard copy statements through the post office, which reduces costs and makes them more convenient.
Online Banking/Internet Banking
This is a fully integrated end-to-end electronic platform, which gives clients a single point of access for their transactions and information, allowing them to streamline their workflow processes. Some of the services offered on the online/Internet Banking platform include; Intra Bank Transfers, Real Time Gross Settlement (RTGS), Balance Enquiry, Statement request, Mobile banking Registration, Print Statements, view Statements, Transaction Summary, Airtime Top-up, Bill Pay, Telegraphic transfers, Standing orders, FX Rates, and Cheque book request.
Real Time SMS Alerts (RTAs).
To curb frauds, Banks send their customers Real Time SMS Alerts on their phones immediately after a transaction has been processed off their account.
Exclusive Electronic Banking Centres
Financial institutions today provide exclusive Banking centers where customers are able to transact in a luxurious, echo-friendly and world class banking environments without the use of the conventional pen and paper but through the use of several smart online and mobile banking solutions.