Sunday , October 17 2021

How First Bank is Deepening Seamless Transaction During Lockdown

Despite the negative impact of Covid-19 on financial institutions operations, First Bank of Nigeria has become the frontrunner of banks providing seamless banking transactions in the country.

Owing to its success in deployment of digital banking solutions, the bank is regarded as a pillar of financial inclusion pushers in Nigeria.

Digital technology has proven to be a highly effective tool in changing this narrative, driving a change in operating and business models, improving platforms for innovation and creating immense opportunities for monetisation.

Digitalization is a broad term that connotes the use of electronic means and ways to conduct banking. It encompasses products and services that bank customers can typically access using their mobile devices or computers, or in general without human intervention from the bank. From a user perspective, digitalization confers enormous benefits in the form of ease, speed and multiple means of access and a paradigm shift in engagement.

As a leading financial inclusion bank in Nigeria, the Chief Executive Officer, First Bank, Adesola Adeduntan disclosed that the lender has over 53,000 agents across the country who have processed over 5 million transactions with differing values in the one week alone.


Commenting on FirstBank’s strides in the last one week, Adeduntan in his words stressed that, “we’ve recorded approximately 2.5 million withdrawals which amounts to N35 billion across our ATMs over the last week.

“Our larger corporate customers have done over 1,700 successful transactions worth N6.8 billion on our e-bills platform during this challenging period.
“Nigerians with FirstBank cards have used them 21 million times to make payments or withdrawals worth N268 million as they rely on us to settle their banking needs.

“Our customers have made transfers over 10 million times with a total value of about N615 billion across our digital channels.”

The FirstBank CEO further assured its customers that the bank is working tirelessly to ensure that banking transactions continue seamlessly, and that COVID-19 will neither slow it down nor defeat its workforce.

While hailing its Nigerian customers for their resilience especially in the last two weeks despite the coronavirus (COVID-19) pandemic ravaging the country, Adeduntan reassured its customers that it would remain steadfast and ready to show up for them at these “unprecedented times.

“Expertise and resilience are in FirstBank’s DNA. We are holding up our side; and COVID-19 will not slow us down.”

“More than ever before, the bank will uphold its promise to its customers to be there for them “and put them First.

ALSO READ: COVID 19: First Bank Donates 1Billion Naira, Reiterates Commitment to Nigerians Safety

“We recognize our role in keeping the engine going, keeping society going and recognize further that it is our responsibility to remain at the forefront of this.

“Our unparalleled network and total coverage of the nation serve us all well at this time; ensuring that safe alternative channels are available for our customers 24/7.

“Rest assured that we are in this together and together, we will emerge stronger at the end of this period because this too shall pass,” he further assured.

Adeduntan, while reassuring Nigerians of FirstBank’s commitment to support the fight against COVID-19, however said that customers can reach the bank via its email – and through their relationship managers, throughout the lockdown period.

Since its establishment in 1894 (126 years ago), FirstBank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and leadership.

Over the years, the Bank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialisation schemes.

About Bukola Olanrewaju

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