Access Bank Drives Digital Transformation to Expand Financial Inclusion and Enhance Retail Banking
Robert Giles, Senior Banking Advisor at Access Bank Plc, highlights the bank’s strides in digital innovation and financial inclusion. With over 60 million customers, Access Bank has transitioned from a branch-centric model to a digital-first strategy, leveraging mobile apps and USSD banking. This shift has enabled the bank to expand its reach across Africa without needing extensive physical infrastructure, serving customers conveniently and fostering financial inclusion. The bank’s agent network of 600,000 plays a crucial role in bridging the gap for customers unfamiliar with digital tools.
Access Bank employs advanced technologies to enhance customer experiences, making banking services accessible and seamless. Features like instant account opening via mobile, embedded finance solutions, and quick digital loans have removed traditional banking barriers. Additionally, AccessMore, the bank’s app, provides an extensive range of services, from QR payments to on-demand account statements, addressing customer pain points and reducing dependency on physical branches.
The bank’s digital payment solutions, developed in partnership with its subsidiary Hydrogen, empower merchants and businesses. Instant payment links, chatbot-enabled transactions, and phone number based payments make retail and business operations smoother. By identifying and supporting business customers among personal account holders, Access Bank integrates non-financial services like business seminars to aid small businesses, emphasizing its commitment to driving economic growth through innovation.
