Guaranty Trust Bank plc continued its dominance of Nigeria’s most qualitative digital financial service awards for the fourth year in a row, winning eight of the twelve
The foremost African financial institution, renowned for its innovative products and services, won awards for efficiency and excellent service delivery in virtually every E-payment channel.
The CBN EPIS Efficiency Awards is organized to celebrate financial institutions, merchants and other stakeholders at the forefront of driving electronic payment in Nigeria. Now in its fourth year, the awards are based on objectiveanalysis of all E-payments data collated by the Nigeria Inter-Bank Settlement System (NIBSS) over a full calendar year. With eight awards, GTBank took home two more honours than the six awards the Bank won the previous year and the highest number of awards presented to financial institutions, Fin-techs, merchants and other stakeholders in the Electronic Payment Incentive Scheme.
The eight awards won by GTBank include:
- Best Customer Experience Award:for having the highest level ofoverall customer satisfaction rating in the delivery of electronic payment services to customers in2018.
- Real-Time PaymentsTransaction Efficiency: for achieving the lowest failure rate
intheprocessing of Instant Payments transactions in 2018.
- Cashless Driver, USSD Channel Champion: for achieving the highest number of Instant Payments transactions via the USSD channel in2018.
- Cashless Driver, Point of Sale (POS)Transactions: for achieving the highest transaction count on Point of Sale(POS) Terminals in 2018.
- Cashless Driver, Card Usageon Point of Sales (POS) Terminals: for authorising the highest card transaction count on the Point of Sale (POS) Central Terminal Management System in2018.
- Direct Debit Driver Award: for processing the highest volume of successful debit mandates across all Payment Service Provider platformsin 2018.
- E-Reference Operations Efficiency: for the Bank’s outstanding performance
in the processing of customers references received from other Banks for account opening purposes on the industry E-reference Platform in 2018.
- ID Services Driver: for achieving the highest volume in the use of the BVN, e-Passport and NIN customer verification platforms in 2018.
Commenting on the Bank’s EPIS awards, the Managing Director and Chief Executive Officer of Guaranty Trust Bank plc, Mr Segun Agbaje, said; “We areproud to be recognisedbythe CBN EPIS Efficiency Awards for our efforts in driving excellence in electronic payments and providing customers with a superior banking experience across all digital touch points. These awards serve as extra motivation for us and we continue to find new and exciting ways to reduce ourcustomers’ pain points and offerthem benefits beyond banking.
He further stated that; “At GTBank we are passionate about building the bank of the future that connects our customersdirectly to all the everyday things that matter to them. That is why we are constantly leveraging the best of technology to, not only make financial services cheaper, more personal and readily accessible, but also to create amazing digital experiences in a way that adds real value to our customers’ lives.”
Guaranty Trust Bank plc is a foremost African Financial Institution with Total Assets of ₦3.287trillion and Shareholders’ Funds of ₦575.6Billion.With banking operations across 10 African countries and the United Kingdom, GTBank is regarded by industry watchers as one of the best run financial institutions in the countries in which it operates and serves as a role model in Africa’s financial service industry due to its bias for world class corporate governance standards, excellent service delivery and innovation.
COVID-19: CBN Issues Directive To Banks, Reduces Interest Rates
The Central Bank of Nigeria (CBN) has reduced interest rates on its facilities through participating in Other Financial Institutions (OFIs).
The rate has been slashed from 9 to 5 percent per for one year, effective March 1, 2020.
This was contained in a circular to banks on Wednesday by the Director of Financial Policy and Regulation Department, Kevin Amugo.
Similarly, CBN intervention facilities obtained through participating OFIs, Microfinance Banks (MFBs), Primary Mortgage Banks, among others would be given a further one-year moratorium on all principal repayments.
This is also effective on March 1, 2020.
OFIs have equally been granted leave to consider temporary and time-limited restructuring of the tenor and loan terms for households and businesses, subject to the recently issued guidelines for restructuring affected credit facilities in the OFI sub-sector.
The Director, Corporate Communications Department, Isaac Okoroafor, said the decisions were part of the bank’s efforts to cushion the effects of coronavirus on Nigerians, businesses and regulated institutions.
He assured that the CBN would also continue to monitor developments and implement appropriate measures to safeguard financial stability and support stakeholders impacted by the COVID-19 pandemic.
However, the Monetary Policy Committee (MPC) meeting of the CBN for the month of May will be held on Thursday.
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UBA Rewards 100 Customers With N100,000 Amid COVID-19 Meltdown
Pan African Financial institution, United Bank for Africa (UBA) Plc has again given its loyal customers reason to cheer as it rewarded 100 of them with N100,000 each in the UBA Bumper account draw.
The draw, which took place at the UBA Head office on Tuesday, was held via the Facebook platform in strict compliance with social distancing rules as directed by the Federal and Lagos State Government were 100 more customers emerged winners through a transparent draw.
When contacted, the customers who emerged winners of the draw agreed that the total reward of N10m is timely and would be very useful in assisting them especially in the face of the Coronavirus Pandemic currently ravaging the world with attendant effect on incomes of individuals.
UBA’s Group Head, Consumer and Retail Banking, Jude Anele, spoke about the bank’s excitement to be able to put smiles on the faces of as much as 100 customers at this critical time when livelihoods and lives are being threatened by the Covid-19 pandemic.
“These are difficult times indeed with little to cheer about because people are going through trying times. However, for us in UBA, we want our customers to know that we are in these together, that is why we have taken it upon ourselves to reward those that have kept our business going with their loyalty. With this reward, we want to encourage them to stay happy and safe even as they continue to aim for their dream regardless of the present challenges,” Anele said.
He noted that the bumper draw is also in line with the bank’s mission of creating superior value for its stakeholders while encouraging saving cultures among Nigerians, adding that “We have in recent times deepened our focus on the most important aspect of our business – the customers we serve. Hence, our huge investment in technology to make banking easier and seamless across all our product channels and that is why we most recently introduced new offerings such as this Bumper Account, with our customers in mind as it is expected to deliver improved value to them,” he said.
In the first draw which was held live during the official launch in Lagos, a total of 100 customers emerged winners as ‘Bumper to Bumper Crooner’, Wande Coal, serenaded guests with his famous hit songs to the delight of all present.
The Group Head Marketing & Customer Experience, Michelle Nwoga, explained that the Bumper account was created specifically with the customer in mind, adding that UBA truly puts its customers first and will stop at nothing to ensure they have the right solutions to support their needs. “We are committed to delivering exceptional service and will always seek to excite our customers at every interaction. We back our words with action and that is why a total of 100 customers emerged winners at the last draw which also took place here,” she said.
She added that a monthly shopping allowance of N100,000 for a year is also up for grabs. “No fewer than 5 account holders will get a whopping N2 million each across all participating regions every quarter. This account is open to both existing and new customers of the bank who save a minimum of N5,000,” Nwoga added.
Mafulul Emmanuel King, one of the winners who was called on the phone, could not hide his joy when he was announced as one of the winners. “I am still very amazed. I never knew I could get lucky and win. All my life, I have never won anything like this, and I am very happy that I won this time. What a time to get lucky than now when this Corona Pandemic has affected my business severely. You can’t imagine how relieved and delighted I am. God bless you guys, thank you so much UBA,” he said.
Another winner, Bello Aishat, who could not also believe it when her name was contacted screamed for joy, saying: “You don’t know what this means to me at this very difficult time! This bank keeps touching and supporting lives. The same way they supported both the federal and state governments and some African countries with a whooping N5bn. I am convinced UBA truly cares and I am proud to bank with UBA. Thank you so much, you have touched me beyond words at a trying time,” she concluded.
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