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Tag: Ecobank

  • Ecobank unveils unified digital payment solution

    Ecobank Pay, a multi-featured digital payment solution, has been unveiled. The product is built as a core part of Ecobank’s digital financial services ecosystem approach and will deliver unified and instant self-service across a range of interconnected payment solutions.

    It can be used by all businesses from small informal micro merchants to large corporates as well as governments, allowing them to offer easy and convenient payment options to their customers in-store or online.

    It includes a rebrand of the Ecobank Scan+Pay QR offering, which allows customers to pay in-store via the Ecobank mobile app. Merchants can now also speedily sign-up for their QR merchant code via the Masterpass QR for Merchant functionality on Facebook Messenger.

    The Ecobank Pay QR offering, or Unstructured Supplementary Service Data (USSD), will continue to allow customers, of any bank in Nigeria or beyond, to make payments for goods and services, using their mobile banking app to Scan+Pay with MasterPass, Visa or mCash as the means of payment.

    mCash allows merchants to receive payments from their customers on one single Merchant Terminal ID for both Scan+Pay and USSD through the Nigeria Inter-Bank Settlement System (NIBSS) mCash service by dialing *402#.

    Ecobank Nigeria Managing Director, Charles Kie said: “Ecobank is committed to simplifying doing business for the people it serves, and Ecobank Pay is a payment solution channel that will make payments easier, faster, convenient and more secure.”

    Group Executive, Consumer Banking, Ecobank Transnational Incorporated, Patrick Akinwuntan said: “The merchant receives instant credit for all transactions as opposed to the current transaction day plus one (T+1) of a POS transaction. Customers can make payment from any type of mobile phone and notification is provided through SMS, the merchant app and the merchant portal.”

     

  • Ecobank promotes financial inclusion on campuses

    Ecobank Nigeria has commenced a youth engagement programme in tertiary institutions across Nigeria as part of efforts to deepen financial inclusion by banking the youth.

    The initiative, themed: “Ecobank Xpress Campus Storm” will avail students of tertiary institutions the opportunity to open the Ecobank Xpress account, a digital account that requires no documentation, minimum balance or paperwork, simply by downloading the Ecobank Mobile app.

    With the Ecobank Xpress account, students will be able to access financial services such as airtime top up, funds transfer and bill payment from their mobile devices. Parents and Guardians will also be able to transfer money to their children or wards‘ Xpress accounts which they can withdraw without a card at any Ecobank ATM or Xpress Point.

    The first phase of this initiative will cover 24 universities, polytechnics and colleagues of education across the country.

    Flagging off the programme, Executive Director Consumer Banking, Ecobank Nigeria, Carol Oyedeji, said the activation is to empower young people by offering them convenient, affordable and accessible financial services anytime, anywhere from their mobile. She reiterated that it was in line with the bank’s strategy to make banking available to the hitherto unbanked and under-banked in support of the Central Bank of Nigeria’s financial inclusive drive.

     

     

  • Ecobank supports youth development

    The organisers of Okpekpe International 10 km Road Race, Pamodzi Sports Marketing, have praised the support of Ecobank Nigeria to the competition, saying the lender has contributed immensely to the huge success recorded in the race.

    Speaking during this year’s edition of the Road Race in Okpekpe, Edo State at the weekend, Chairman and Chief Executive Officer,  Pamodzi Sports Marketing, Mike Itemuagbor said the lender has demonstrated that it is a firm supporter of youth and sports development in the continent, and Nigeria in particular.

    He stressed that the competition is attracting athletes from all over the continent. He used the opportunity to call on other corporate organisations in the country to support sports development initiatives.

    “We commend Ecobank for partnering with us over the years in organising this race. It is engendering healthy competition among Africa youths. We wish to implore other corporate organizations to emulate Ecobank and support sports development initiatives,” he said.

    Managing Director, Ecobank Nigeria, Charles Kie reaffirmed the bank’s support for the Road Race. Represented by Executive Director, Corporate Banking, Akin Dada, he noted that the objective of the organisers of the Race matches that of Ecobank and assured stakeholders that the Bank will continue to throw its weight behind the race as its Official Bank.

    “I want to use this opportunity to state here that Ecobank fully endorse this competition and will like to assure you that we will continue to be associated with the Okpekpe International Road Race,” he said.

    He commended the organisers for the elevation of the race by IAAF to a silver label status, stressed that the competition brings together men and women from various parts of the world.

  • Ecobank unveils unified digital payment solution

    Ecobank Pay, a multi-featured digital payment solution, has been unveiled. The product is built as a core part of Ecobank’s digital financial services ecosystem approach and will deliver unified and instant self-service across a range of interconnected payment solutions.

    It can be used by all businesses from small informal micro merchants to large corporates as well as governments, allowing them to offer easy and convenient payment options to their customers in-store or online.

    It includes a rebrand of the Ecobank Scan+Pay QR offering, which allows customers to pay in-store via the Ecobank mobile app. Merchants can now also speedily sign-up for their QR merchant code via the Masterpass QR for Merchant functionality on Facebook Messenger.

    The Ecobank Pay QR offering, or Unstructured Supplementary Service Data (USSD), will continue to allow customers, of any bank in Nigeria or beyond, to make payments for goods and services, using their mobile banking app to Scan+Pay with MasterPass, Visa or mCash as the means of payment.

    mCash allows merchants to receive payments from their customers on one single Merchant Terminal ID for both Scan+Pay and USSD through the Nigeria Inter-Bank Settlement System (NIBSS) mCash service by dialing *402#.

    Managing Director, Ecobank Nigeria, Charles Kie said: “Ecobank is committed to simplifying doing business for the people it serves, and Ecobank Pay is a payment solution channel that will make payments easier, faster, convenient and more secure.”

     

  • Ecobank opens applications for 2018 fintech challenge for African start-ups

    Ecobank says it has opened applications for start-ups and developers in the 54 countries in Africa to apply for its 2018 fintech challenge.
    The financial institution announced this challenge which is in its second year via its website, ecobankfintech.com on Thursday.
    The initiative gives African start-ups the chance to promote their fintech solutions, and potentially to partner with Ecobank in rolling-out their solutions across 33 countries where the bank operates.
    According to the Group CEO, Ecobank Transnational Incorporated (ETI), Mr Ade Ayeyemi, who reiterated Ecobank’s dedication to support innovations in banking and finance across the continent, via the website.
    “We, at Ecobank, believe that the current winds of change led by technology and innovation will redefine how banks do business, and indeed the relationships people have with their money.
    “We want to be at the forefront of this change, in partnership with Africa’s rising start-ups, and that is why we created the Ecobank Fintech Challenge,” he said.

    Read Also:  MTN, Ecobank partner on financial inclusion

    Mr Eddy Ogbogu, Ecobank Group Executive for Operations and Technology, who spoke of the initiative, said the bank was looking forward to another successful competition.
    “The maiden 2017 edition of the challenge proved that Africa has an impressive army of highly capable fintech start-ups.
    “Ecobank is looking forward to another successful competition,” he said.
    The statement on the website showed that 10 finalists will be selected to participate in an Awards and Innovation Fair at the global headquarters of Ecobank in Lomé, Togo in July 2018.

    All 10 finalists with the most commercially viable start-ups can launch their products in Ecobank’s 33 countries across Africa and also become pan-African service partners within Ecobank’s ecosystem.

    The finalists will be conferred with Ecobank Innovation Fellows for a year, which grants them access to networking and mentoring from Ecobank’s vast global network of technology leader’s fintech experts, investors and management coaches.
    According to the statement, after a series of pitches from the finalists, a panel of judges will select the top three winners, who will receive cash prizes worth 10,000 dollars, 7,000 dollars, and 5,000 dollars respectively.
    Applications for the competition will close on May 20.

    NAN

  • African start-ups to compete for Ecobank FinTech challenge

    Pan-African banking group Ecobank has invited African Financial Technology (FinTech) entrepreneurs to enter for its Ecobank Fintech Challenge.

    The contest, now in its second edition, gives African start-ups the chance to promote their solutions and potentially partner Ecobank in rolling-out their solutions across its 33 markets.

    The banking group said start-ups and developers in any of Africa’s 54 countries could enter their solutions for the Fintech Challenge.

    A statement by the group said 10 finalists will be selected to participate in an Awards and Innovation Fair at the global headquarters of Ecobank in Lomé, Togo in July 2018.

    Following pitches from the finalists, a panel will select the top three winners, who will receive cash prizes worth $10, 000, $7, 000, and $5, 000.

    The finalists will be conferred with the  Ecobank Fintech Fellowship and will qualify to explore opportunities to partner Ecobank, including multi-national product roll-out, service provider partner deals, and mentoring and networking support.

    With the opportunity of a multi-national product roll-out, the most commercially viable start-ups can launch their products in Ecobank’s 33 markets across Africa. The service provider partner deal offers start-ups with deep capabilities opportunity to become pan-African service partners within Ecobank’s ecosystem

    Under the banking groups’ mentoring and networking support, founders will be conferred with Ecobank Innovation Fellowship for a year, which grants them access to networking and mentoring from Ecobank’s vast global network of technology leaders, fintech experts, investors and management coaches.

    Group CEO, Ecobank Transnational Incorporated, Mr. Ade Ayeyemi, reiterated Ecobank’s dedication to support innovations in banking and finance across the continent.

    He  said: “We, at Ecobank, believe that the current wind of change led by technology and innovation will redefine how banks do business, and indeed, the relationships people have with their money.

    “We want to be at the forefront of this change, in partnership with Africa’s rising start-ups, and that is why we created the Ecobank Fintech Challenge.”

    Ecobank Group Executive for Operations and Technology Mr. Eddy Ogbogu said, “The maiden 2017 edition of the Challenge proved that Africa has an impressive army of highly capable fintech start-ups. Ecobank is looking forward to another successful competition.”

    Ecobank Fintech Challenge was designed in partnership with the advisory firm Konfidants and is supported by several partners across Africa and globally. Applications for the competition will close on 20th May, 2018.

  • MTN, Ecobank partner on financial inclusion

    In an unprecedented move to accelerate financial inclusion across Africa, leading Information and Communications Technology (ICT) company, MTN Group and Pan-African banking conglomerate, Ecobank, have come together to provide mobile financial services across the various African countries where they currently operate.

    The partnership which was announced Tuesday 10th April, 2018 at a aunch event in Lagos will see MTN and Ecobank work together in delivering a distinct customer experience by providing value-added mobile financial products and services, allowing them to innovate and enhance access to affordable financial services via MTN Mobile Money and Ecobank Banking services.

    Commenting on the collaboration, MTN Group President and CEO, Rob Shuter said: “Partnerships between banks and mobile money operators are fundamental in the mobile money ecosystem, hence our long-standing partnership with Ecobank in many of our markets aimed at driving financial inclusion. We are excited to be taking this partnership to the next level as this latest development will spearhead innovative initiatives which will deepen financial access on the continent.”

  • N20.2m benefit: Court strikes out ex-bank manager’s entitlement suit

    The National Industrial Court, Abuja, on Tuesday struck out a suit filed by one Cherry Okeke, against her former employer, Ecobank Nig. Plc, seeking payment of N20.2million being accrued benefits and salaries.

    Justice Rakiya Haastrup, dismissed the suit on the grounds that the claimant, who was given an indefinite suspension without pay, was not entitled to any salary.

    Haastrup said that the claimant failed to prove that the termination was unlawful, and therefore was not entitled to any relief, and subsequently dismissed the suit.

    Elijah Adegbe, the claimant’s counsel, had told the court that his client was disengaged from the defendant’s employment in 2013 without one month salary, in lieu of notice.

    Adegbe said the accrued salaries, benefits and interest from 2013 to the time the suit was instituted, amounted to N20.2million.

    As part of the relief sought by the claimant, she prayed the court to declare her employment with the bank as still subsisting.

    She also sought payment of N50million as general damages and N5 million as cost of the suit.

    The defence counsel, Faith Ozurumba, in her submission, argued that the claimant, who took credit facility of N5.5million from the defendant, is the one indebted to the defendant.

    Ozurumba said that the amount had increased to N18.2million, from unpaid principal fund and accrued interest.

    She said that the claimant breached her contract of employment, by using the premises of the defendant for business transactions for personal gains.

    Ozurumba said that it was this action that led to the claimant’s indefinite suspension in 2012, and eventually to termination of her appointment in 2013.

    Okeke who was employed by Oceanic Bank Plc before its acquisition in 2011 by Ecobank Nig. Plc, rose to the position of a Customer Relations Manager before the termination of her appointment in 2013.

    NAN

  • MTN, Ecobank to deepen African mobile financial services

    MTN Group and Ecobankhave come together in a partnership aimed at providing mobile financial services across the various African countries where they currently operate.

    MTN and Ecobank said they will leverage their existing infrastructure, such as Information and Communications Technology (ICT) and the bank’s pan-African spread respectively to accelerate financial inclusion across the continent.

    The partnership which was cemented yesterday in Lagos, will require MTN and Ecobank working together in delivering distinct customer experience by providing value-added mobile financial products and services. It will also allow both conglomerates to innovate and enhance access to affordable financial services via the MTN Mobile Money and Ecobank’s banking services.

    Speaking after initialing the Memorandum of Understanding (MoU), MTN Group President/ CEO, Rob Shuter, said: “Partnerships between banks and mobile money operators are fundamental in the mobile money ecosystem, hence our long-standing partnership with Ecobank in many of our markets aimed at driving financial inclusion. We are excited to be taking this partnership to the next level as this latest development will spearhead innovative initiatives which will deepen financial access on the continent.” He added that MTN is open to working with other financial institutions in order to bridge the financial divide.

    In his comments on the collaboration, Ecobank’s Chief Executive Officer, Ade Ayeyemi said: “Combining Ecobank’s innovative digital banking range with MTN’s enormous subscriber base, means that virtually every African can now have an instant bank account, savings accounts, loans and make instant remittances on their mobile phone, stating that Ecobank’s digital strategy has long been committed to providing banking facilities to the mass market.

    “We have already made giant strides in our mission to ensure financial inclusion and today’s agreement with MTN will greatly accelerate the easy availability of banking facilities to the previously unbanked.”

    Both CEOs agreed that with this partnership, MTN will leverage Ecobank’s payments infrastructure to facilitate money transfer via mobile wallets across the MTN and Ecobank footprints and will also spearhead new innovations to initiate financial access in Africa and beyond, as well as encourage other financial institutions to leverage on MTN’s ecosystem and spread.

    The partnership is expected to enable Bank-to-MTN Mobile Money wallet and wallet-to-bank transfers and cardless ATM withdrawal for MTN Mobile Money users. The partnership will use the rapid transfer platform to provide MTN Mobile Money users to make intra-Africa funds transfers and provide savings accounts and lending solutions to MTN Mobile Money users.

     

     

  • Calabar Sports Club lauds Ecobank

    The Calabar Sports Club has commended Ecobank Nigeria’s partnership in the 2018 East of the Niger Inter Club Tennis league Championship.

    The President of the Club, Asam Asam said regional sporting events like the East of the Niger Inter Club Tennis league Championship encourages creativity and excellence among the people as it affords them the opportunity to compete and socialize within their immediate community and beyond.

    “The East of the Niger Inter-Club (ENIC) Tennis League has offered participating regions and clubs a platform to bond in friendship which is only peculiar to the game of tennis. The league has built solid relationships between the two regions of South East and South South over the years.” He said

    He reiterated that this year’s event was a huge success due largely to partnership by Ecobank and other farsighted sponsors, who are concerned about creating a positive and engaging future for the youth.  Ambassador Asam Asam who thanked the bank said the 2018 East of the Niger Inter Club Tennis league Championship (ENIC) had participants from 11 Sport Clubs representing 9 States in South South and South East. He assured that the competition will be sustained and further extended to include more Clubs within the region.

    Also speaking Godwin Eton, representing the Managing Director, Ecobank Nigeria Charle Kie said Ecobank is delighted to support initiatives that support youth development in the Niger Delta and Eastern region of Nigeria. He maintained that Ecobank is focused on encouraging creativity among Africans especially the young people, who are the future of the continent.

    In his words “We are delighted to be a strong part of the success story of the East of the Niger Inter Club Tennis league Championship especially on this last edition, which had nine states in attendance. We hope this competition will grow to have every state of the federation represented”.