Business Hilights
Tracking Nigeria's Headline Business News Online

Access Bank completes upgrade, fetes customers with free instant transfers

For their patience and understanding throughout the period of its technology and infrastructure upgrade and seamless systems integration, leading retail banking giant and largest financial institution in Africa, Access Bank is offering its customers, free instant transfers for a whole week.

The free NIBSS-Instant-Payment (NIP) transfer offer runs from November 1 – 7, 2019 and is available on online banking, mobile banking app and *901# or *426#.

All existing and new Access Bank accounts are eligible for this offer on the named channels.

Otherwise, an account holder can connect with the bank and stay updated on more product offerings and services through Facebook, Twitter, Instagram, contact center via 012712005 and join the conversation #AccessFreeTransfers.

The bank averred that the rare move is its way of thanking its customers for strong support since the merger with Diamond Bank and throughout the period of its technology and infrastructure upgrade.

Business Hilights gathered that the upgrade involved the integration of all Access Bank’s platforms onto a new, highly scalable and robust platform even though since the official merger earlier this year, customers have carried on business as usual with no disruptions as promised.

The bank explained that “The upgrade now offers the best digitally-driven financial solutions that will make transactions simpler, faster, convenient and more secure. This is in addition to the improved feature where customers no longer have to select between ‘Access’ or ‘Access [Diamond]’ when transacting.

It added further that with the successful completion of the integration, all transfers to or from Access Bank accounts have been harmonized for seamless banking experience by both existing and incoming customers across the nation.

Besides, Bloomberg quoted weekend quoted Access Bank chief executive, Mr Herbert Wigwe as saying that there are plans to open in four African nations come next year.

This is coming on the heels of recent takeover of Transnational Bank Limited of Kenya.

Wigwe was quoted as saying that “By this time next year we would probably have added about four more subsidiaries, most of them Greenfield.”

Business Hilights further gathered that South Africa, Angola, Mozambique, Senegal, Liberia and Ivory Coast are among countries being considered for the setting up of subsidiaries, representative offices or partnerships.

The bank is close to coming up in 22 African countries, according to a presentation on its website.

Recall that Access Bank currently operates in Sierra Leone, Gambia, Congo, Ghana, Nigeria, Rwanda and Congo.

On Transnational Bank, Access Bank chief averred that “By the end of the second year we will start to see a return on equity that is close to 20%.”