June 29, 2012 / Proshare News

In compliance with the regulatory demands in the financial services sector of Nigeria, particularly on the cashless policy initiative of the Central Bank of Nigeria (CBN), First Bank of Nigeria (FBN) Plc continues to invest intensively in Information Technology (IT) to capture the immense needs of its classes of customers in the e-transaction schemes for the banking publics.  
 

At the Products and services fair organized to provide insight into the bank’s various packages, FBN communicated its six customer-needs-focussed products and services which it represents as affordable, relevant and useful for all banking and e-transaction needs.
 

The FBN e-cards services, which come in a wide range of products mitigated to suit the diverse lifestyles of its customers are built beyond the chips and PIN security. The verve card; FirstNaira card; Naira Credit Card; FirstVisa Gold (classic and regular); Standard Mastercard (International and domestic) meet both the online and offline transaction requirements, based on categorical designs.

FirstOnline is developed out of the continental revelations that Fourty-Five Million of Internet users are domiciled in Nigeria. Based on that research, the FirstOnline service has bundled all the over-the-counter transactions to the Internet for ease of access.
 

In the words of the management, “FirstMobile is the use of common items as a channel of transaction.” The product performs both financial services and other value added services using the mobile phones, and it is accessible for all account holders of FBN.
 

With an aim to reach the unbanked, FBN introduces FirstInstant, a savings account that eliminates the severity of “only Drivers License” or “International passport” as means of identification for accounts opening. With a minimum opening balance of One Thousand Naira only any form of identification card becomes acceptable for the creation of a FirstInstant account.
 

The FirstPay product is another web-based payment platform, essentially for corporate organisations. The FirstPay aids third party payments and salaries remittances in employees’ accounts. FirstPay comes in reliable and varying categories such as the “Vendor e-payment”. Via the product, transactions are made possible directly with other banks.
 

The FirstPayLink, a multi-platform Internet payment gateway is made possible through the linking of a website to the service providers, Interswitch, Visa, MasterCard and e-Tranzact cards with First Bank bridging the gap. 

Watch Video (….of presentation)



In the meantime, the Head, Marketing and Corporate Communications, Folake Ani-Mumuney and her team have expressed optimism and confidence in the ability of the well thought out E-transaction model of the bank to deliver the needs of the customers. Indeed, the bank demonstrated how it took the exposure differences of its customers along with their banking experiences to formulate the products and services now available.
 

“We are in sync with the Cashless Policy of the Central Bank of Nigeria and are presently driving this policy in Lagos, and Nigeria at large, this certainly makes our bank very fundamental to the nation’s goal of becoming one of the top 20 largest economies in the world by the year 2020”, said Ani-Mumuney.
 

Watch Video (…the interview with Ani-Mumuney)