Nigeria, Ecobank Boosts Micro-Savings with Express Savings
By Abdul Rahman Bangura –
NEW AFRICA BUSINESS NEWS ( NABN ) Freetown, Sierra Leonne- Nigeria’s Ecobank Managing Director – Patrick Akinwuntan meant, the Ecobank Express Save and Express Loan is a digital merchandise modeled to accelerate micro-savings in the thrift. This resourceful commodity is a fraction of the bank’s comprehensive blueprint to navigate economic inclusion and render full banking will certainly accessible to all and sundry in Nigeria.
Akiinwuntan underscored Express Save and Express Loan will broaden it entrance for qualified clients in order to attain a temporary stint of micro-credit loans to bridge cash progression gaps, consequently endorsing to the national accomplishments to heighten financial inclusion. Ecobank Nigeria previously displayed a recent stock offering, Express Save and Express Loan, encouraging customers to comfortably and advance accessible digital savings accounts and also receive short-term micro-credit loans using their mobile phones through a USSD platform, *326#.
Ecobank Express Save and Express Loan, the first of its kind in the Nigeria markets an online real-time, self-service solution which is acceptable for all micro entrepreneurs, artisans, traders, low income earners and the entire unbanked and underbanked mass market population. The Express Save and Express Loan product are reasonable to record digitally through the mobile phone and it is usable on a twenty-four hours every day of the week.
“We declared openly our plans to take banking to every locality in Nigeria no matter how far, through our agency banking – the Ecobank Express Point. This, we have done and will keep going to do until every home in Nigeria feels our presence.
“Through Express Save and Express Loan, we will provide these target households with the capacity to save easily for the rainy day and also give them admission to small loans to boost them to finance their businesses with more ease. All these are in line with the Ecobank Group mandate which is to bestow to the economic development and financial integration of the African continent,” Akinwuntan asserted.
This service tolerates mobile phone addicts to save money in their digital savings accounts (Ecobank Express Save account) which is opened completely and quickly through USSD code – *326#. In addendum, Express Loan enables customers who have Ecobank Express Save account access short term micro loans immediately to join their timely desires.
In a bid to be capable for the loan, the customer requires to barely open Express Save account, meet Tier 1 KYC requirements and the simple credit score. The Ecobank Express Save and Express Loan product imposes no paper work and no fees are involved for onboarding. The product has best in class security features, guaranteeing that, customers’ transactions are thoroughly protected.
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