The bank has taken the initiative to ease financial
transactions for its customers, such that the need to physically visit the bank
is completely eliminated while the mobile app is engaged optimally to meet the
transaction needs of the bank’s existing and new customers.
The mobile app can be downloaded on the IOS store and Google
playstore.
The Group Head, Retail sale and E-business, Felix
Omodayo-Owotuga, elaborated on the features of the mobile app and its
distinguishing features stating that the mobile app is “a menu-driven solution
that allows you to access it even from the comfort of your home”, to reach
customers and enable them to transact from wherever they are.
The mobile app allows for ease of onboarding, with a
one-stage interface that permits new customers to get onboarded without Bank
Verification Number (BVN) or NIN. New customers who do not remember their BVN
can simply provide a bank account number linked to their BVN, through which the
application can obtain the necessary details for registration.
Following onboarding or registration, there is an app
feature which allows customers to login with either fingerprint or face
Identification (ID) to enhance the security of individual accounts.
Also, the mobile app has a “Save to Own” feature, a target
product to assist customers in saving up to meet financial obligations aimed
towards building their own home. The Save to Own feature allows customers save
periodically, weekly or monthly.
Customers can also request for mortgage loans, open a fixed
deposit account via the app instead of visiting a physical branch.
The plan for the mobile app is to feature all financial
services open to individuals and corporate bodies as well as salary and
non-salary earners.
The management explained that the bank’s products are
channeled towards salary and non-salary earners as the bank has a structure
that has been perfected over the years- on banking and offering mortgage
support to these classes of people, by working with trade unions and
co-operatives.
Very importantly, the bank also took the initiative to
provide a panic code for emergency purposes. In situations where customers lose
their devices and need to block their Abbey account, the panic code *5103*911#
has been created to meet such service.
Speaking of how the mobile app could drive the company’s
long-term profitability, Mr. Felix Omodayo-Owotuga said, “The first goal for
the app is not profitability, but customer satisfaction, ease of transaction
for customers to ensure we can move our customers from the branches to a place
where they can do transactions with ease”.
“While we cannot eliminate profitability when customers are
initiating a transaction, the goal of the mobile application is actually from
the customers’ angle and perspective”, he said.
He emphasized the bank’s plans on integrating the mobile app
with the e-naira wallet. He stated that, “We are going to integrate with the
e-naira wallet. We have started the engagement with CBN and by the time we
release our [mobile app] Version 2, the e-naira wallet is also going to be on
the application”.
He further told Nairametrics representatives saying, “The
Director of Payments, Central Bank of Nigeria, Mr. Jimoh gave us a contact that
we should start talking and start discussions with respect to the e-naira
wallet. So, we are hopeful that we should be able to complete that before we
release the Version 2.0”
Mrs. Lolita Ejiofor, responded to questions on what
distinguishes the Abbey mobile app from other banking application. She said,
“the onboarding process makes the Abbey app stand out as it is very easy and
quite secure….The app can be transferred from one phone to the other, without
having to visit the bank. Abbey mortgage is moving towards being a fully-tech
bank”