Every customer wishes to be touched in a special way. The need to meet customers’expectations prompted Access Bank Plc in partnership with Verve International to inaugurate a customised debit card tagged ‘Persona’. The product allows the bank’s customers to upload their favourite image or select any from its gallery on their debit cards, for enhance satisfaction, writes COLLINS NWEZE.
To every customer, there is a special moment or event that would be cherished forever. The need to keep such moments close to customers’ heart prompted Access Bank Plc to unveil ‘Persona’, a customised debit card that allows cardholders to upload their favourite images on their debit cards.
Access Bank CEO speaks
Speaking at the launch of the product in Lagos, the Group Managing Director/Chief Executive Officer, Access Bank Plc, Herbert Wigwe, described the product as part of the brand new future as well as a great future facing the lender.
Continuing, the bank chief said: “So, that is what we are doing. That is also what Persona is all about. It was inspired by our customers. We have several people that have been with us for so long, since 2002. Even as a wholesale commercial bank, you (customers) stood with us, even when we did not have many retail products to offer. Now, we boast of the most widely used cards, we boast of the best premium cards, we boast of cards that are extremely efficient, but what we are doing today is even much more different.
“If you ask people about Access Bank about three to five years ago, they would have said it is a wholesale commercial bank because that was what we were.
“But we have evolved over the past three years to become a large diversified bank with a strong retail presence. Now, what we are doing is not just looking at the top corporates, we are looking at what we can do with each of our stakeholders. What that means is that whether it is a small business, or an individual, we strive to meet everybody’s aspiration.”
According to him, the bank would be unveiling several products over the next couple of weeks to strengthen its presence in the marketplace. This, he pointed out would enable the lender achieve its ambition of becoming the world’s most respected African bank.
“So, for you to achieve that, it is not just by banking the large corporates which we are doing, but making sure that all the people in the retail space can truly feel the power of an institution that truly cares for them,” he said.
Wigwe said the lender believes in creating its own destiny, pushing boundaries and thriving on excellence.
Its Group Head, Channel Services, Mr. Segun Ogbonnewo said the product would be supported amongst other things by dedicated communication channels which would host dynamic information as well as publicise the bank’s loyalty and reward offerings to customers.
He said the lender is focused on building its digital banking enterprise around innovative, efficient and relevant products and services driven by cutting edge technology platforms.
“We propose to name the collective ecosystem of these non-generic products and enhanced services ‘Persona’. Because our primary inspiration in developing these products are our esteemed and increasingly technology savvy customer base. A customer base that wants to be empowered with self-service options that enable them take charge of the way they live, work and play,” he said.
Ogbonnewo said the product entails building the value propositions for our products around the lifestyle characteristics of our target demographic segments. “We will seek to create loyalty driven by engagement, leveraging off the lifestyle attributes of the target market which drive or are closely associated with spending habits/patterns such as travel, shopping, music, sports,” he said.
Verve CEO speaks
Managing Director of Verve International, Charles Ifedi, felicitated with Access Bank Plc on the introduction of the new debit card.
He said the bank took the right decision to adopt the innovative personalised debit card.
Powered by Verve, a payment solution from Interswitch transnational, this new card called Persona, will function like every other debit card, but gives customers the opportunity to customise their debit cards with pictures of their choice.
Ifedi said: “We are excited about this new model of cards and we commend Access bank for this step. We believe that by letting customers choose what picture should be on their debit cards, we have given them the freedom to express themselves on their debit cards and truly own these cards”.
Access Bank has also been active in other sectors of the economy.
Loan support
Access Bank Plc has granted a $250 million credit facility to Sea Truck Group an international group of companies offering offshore installation, accommodation and support services to the oil and gas industry worldwide, in continuation of its financial intermediation role,
In a statement, Wigwe, said the lender has recorded commendable expansion and growth in the last decade. The feat, he said, has positioned the bank within the top five banks in the country. “With regards to our regional spread, Access Bank is currently in seven countries inclusive of the United Kingdom and now has an office in China with plans to establish presence in Dubai next year,” he said.
The bank chief described the Sea Truck Group as a company that is dear to the lender’s heart. “We will always support the company in its dealings, as we are confident that this mutually beneficial relationship will provide the backbone for future more robust dealings,” he said.
President/Chief Executive Officer, Sea Trucks Group, Jacque Roomans praised the bank chief for arranging the signing ceremony and also commended the lender for the successful close on the transaction.
“The manner with which Access Bank handled this transaction is highly commendable. This is a demonstration of how far the bank has come overtime. Sea Truck Group is proud to associate with Access bank and will not hesitate to build on this existing relationship. I admonish other financial institutions to emulate Access Bank,” he said.
The Executive Director, Corporate and Investment Banking, Access Bank Plc, Elias Igbinakenzua in said the bank’s capacity to support big businesses is never in doubt. “In our bid to stimulate growth in the economy, we have established first class relationships with corporations and multi – nationals to position us to better support our customer’s businesses,” he said.
Eyes fresh capital
Access Bank’s Deputy Group Managing Director, Obinna Nwosu said the lender will be raising N68 billion capital through Rights Issues. He advised shareholders to take up their rights when the issue begins, as the bank has proven its ability to deliver superior returns on investment.
The bank chief also listed some of the major attributes that makes Access Bank an institution of choice for investors.
Nwosu said the bank has Capital Adequacy Ratio of 21 per cent, and has seven banking subsidiaries. The lender also employs 3,192 professional staff working in 366 branches. The lender has 1,042 ATMs, with 11,846 Point of Sale channels.
He said with a vision of becoming one of the most respected banks in Africa, Access Bank has grown to be the top five banks in Nigeria, stating that between 2002 and 2007, the bank ranked among the top 10 lenders in the country. “That feat was triggered by its role as a dominant trade finance bank; top three foreign exchange and money market bank and model of compliance in the banking industry,” he said.
Nwosu, who spoke in company of other Senior officials of the bank, including the Executive Director, Commercial Banking, Roosevelt Ogbonna at a media briefing in Lagos, said that between 2007 and 2012, the bank emerged among the top five in the financial services group, adding that this was achieved based on its reference point of Service Delivery; leading e-business support bank; employee of choice in Africa; reference point for corporate governance; attainment of high independent credit rating and as a top five trade finance lender.
Africa as economic hub
Wigwe has described Africa as a hub of international economic evolution where tremendous innovation in financial services, telecoms and natural resources have become important drivers of global growth.
Speaking at the 2014 Institute of International Finance Africa Financial Summit held in Lagos, he said the forum is part of that paradigm shift in the economic trajectory of Africa.
“A congregation of some of the best financial minds, financial sector leaders and economic policy makers from across Africa and beyond are gathered here today and I am proud to welcome you all to this important gathering,” he said.
The bank chief who spoke on ‘Mobilising Resources for Investing in Africa’ said more wealth has been created in Africa in the last decade than at any other time in history.
“Across the continent, we have seen a steady drumbeat of democratisation and political reform as governments are, with some exceptions, starting to provide the environment for businesses to thrive. They are creating greater feedback from and accountability to their citizens; ensuring that people’s needs are known and addressed,” he said.
He said from Rwanda to Nigeria, there has been a steady increase in security of title and the rule of law; investment in regulatory and physical infrastructure to ease the doing of business; and a low-debt, low-inflation macro environment.
He said: “All of these factors together help to build the first pillar of the African investment story – no longer is this the continent of coups and generals; instead it is a place of democratic as well as economic growth.”
Wigwe said despite these achievements, Africa still faces challenges that are not peculiar to the continent, but the changing global financial landscape has made it ever more important that Africa catch up as quickly as possible with the rest of the world or risk being left behind.
