September 8, 2011 : 21:56(GMT)
Access Bank Plc is set to redefine the retail banking space for children in Nigeria with the launch of a bespoke account for young savers. The Access Bank “Early Savers Account”, a custom-made banking product for Nigerian parents and children , builds on the growing reputation of Access Bank as a bank of best practice in Africa and a leader in sustainability and responsible business practices. The launch of the new account will be supported by a ground breaking strategic partnership with Nickelodeon, the global family entertainment super-brand, leveraging Nickelodeon’s world-famous animated pre-school heroine and cartoon character, Dora the Explorer, to encourage financial responsibility from an early age.
To further engage and involve young savers, and to drive the adoption of the Early Savers Account by Nigerian children and their parents, Access Bank and Nickelodeon will bring Dora the Explorer and her best friend Boots to Nigeria for the very first time in September 2011 for “Dora’s Birthday Fiesta”. Dora, seen in Nigeria on DStv Channel 305 and STV, will be holding her first ever public performance, featuring well-known nursery rhymes, at the Federal Palace Hotel, Lagos on Friday 23 and Saturday 24 September2011.
In conceptualizing and designing the Early Savers Account, Access Bank seeks to serve the unbanked segment of the Nigerian economy, particularly children 0-9. The Access Early Savers Account recognizes that existing banking products targeted at children fail to address some of the key elements children would like to see in offerings from banks. These include: making the banking process simple and fun; educating them about banking in an engaging fashion; making banking for children a family affair and extending the life cycle of the product to match the development life path of children from birth through childhood to teenage years and eventually adulthood. This is the first time in Nigerian banking history that a product for kids will deliberately adopt this holistic approach.
Integral to the Early Savers Account is the development of a financial literacy campaign based on simple lessons that inculcate the values of hard work diligence, savings and entrepreneurship in participating children. Designed as a friendly savings account, the product offering delivers a number of benefits including competitive interest rates, access to loans for school fees payment, discount vouchers at selected shops and merchant outlets, club membership that inspires a proud sense of belonging, invitation to special Early Savers children Xmas parties with Dora and many others.
To position the Early Savers Account for success Access Bank has committed significant investment in promotions, direct marketing, sponsorships and advertising across relevant media.
Commenting on the new product, Group Managing Director/CEO, Access Bank, AigbojeAig-Imoukhuede, said; “Access Bank’s introduction of this revolutionary Early Savers Account is the first bold step in the implementation of our financial inclusion stratey. The future of this great nation belongs to our children and we will create win-win partnership with Nigerian youths resulting in a lifelong customer-bank relationship. The Early Savers Account with Dora the Explorer is a strong launching pad from which parents can propel their children along a wonderful journey of financial well being and prosperity.”
Also commenting Alex Okosi, Senior Vice President & Managing Director, MTV Networks Africa, said; “We are delighted that Dora the Explorer will be helping young Nigerian children to go on an exciting adventure that will help them understand the value of money and get involved in the banking system early on.”