FCMB Wins Excellence Award in Alternate Channels Banking

For consistently demonstrating exemplary performance in electronic banking and payment solutions, First City Monument Bank (FCMB) has been conferred with the prestigious ‘’Excellence Award in Alternate Channel Banking’’ at the 2017 edition of the New Age Banking Awards. The awards ceremony, organised by leading global solutions provider, UMS Conferences, formed part of activities of the New Age Banking Summit held from September 26 to 27, 2017 in Lagos.


FCMB, as an inclusive lender and leader in financial services delivery in Nigeria, has continued to dictate the pace and expand its channels by providing world-class electronic banking offerings and solutions that align with the lifestyles of its existing and potential customers. The Bank is known for providing one of the fastest, secure, convenient and seamless alternate channel banking platforms cutting across Automated Teller Machines (ATMs), Point of Sales (PoS), mobile, internet banking, among others. Over the years, the Bank has continuously reinvented the wheel through cutting-edge, impactful and bespoke products and services for its customers at all touch points, thereby enhancing their experience.


According to the organisers of the New Age Banking Summit, the conferment of the ‘’Excellence Award in Alternate Channel Banking’’ on FCMB, ‘’is in recognition of the outstanding achievements of the Bank in the Banking and Finance industry in Nigeria’’. UMS Conferences added that, ‘’FCMB has consistently demonstrated excellent performance in electronic banking and payment solutions’’.


The Bank was further commended for going the extra mile to drive and deepen financial inclusion and the cashless policy in the country by developing simple and value-added transaction and electronic banking offerings that meet the needs of various segments of the society. FCMB is among the first to deliver on-the-spot ATM cards, including Visa and Mastercard, issuance in Nigeria.   And in line with the Bank’s drive to partner with value content from the Fintech space, FCMB is collaborating with Paystack to provide their innovative online collection platform to merchants and other businesses with the focus of enabling them to give their customers, a seamless payment experience.


Commenting on the ‘’Excellence Award in Alternate Channel Banking’’ presented to the Bank, the Executive Director, Business Development of the Bank, Mrs. Bukola Smith, described it as another landmark achievement and a clear demonstration that the various strategic approaches adopted by the lender to revolutionise alternate channel banking services are yielding the desired results and are appreciated by not just customers, but other stakeholders.


‘’This latest award for FCMB is another confirmation of our unequalled commitment in offering cutting-edge and exceptional electronic banking and payment offerings to our teeming customers and the Nigerian public. As a forward-looking institution built on the culture of excellence, we will continue to invest in digital platforms and other modern solutions that enable us sustain the tempo in the provision of simple, helpful and reliable banking services driven by robust technology and best practices’’, she assured.


The 2017 edition of the New Age Banking Summit and Awards brought together leading industry experts, regulators and thought leaders within and outside Nigeria who provided latest insights in the trends and technologies shaping the future of banking in Nigeria. It provided an opportunity for Banks to discover the latest financial technology (Fintech) solutions, such as blockchain, next-generation payments, social banking and biometrics, to help them keep up with current and emerging dynamics of the new world economic order.


The Group Head, Transaction Banking Products of FCMB, Mr. Dennis Ezaga, in a paper titled, ‘’Implementing Advanced Analytics and Big Data to Create a Customer-centric Infrastructure’’, explained that advanced analytics and effective data play very important roles to drive long term customer loyalty, understanding customer behaviour and decision making by Banks and other organisations to ensure productivity and efficiency in a sustainable manner.


He further submitted that, “first we need a design thinking approach that must be focused on understanding the customer in order to enhance or create experiences that drive advocacy.  Selecting the right data sets from our customer’s lifestyle and applying artificial intelligence algorithms can give deep insights into their behaviour to enable us predict their next aspirations and prescribe intuitive solutions’’.


Other speakers at the summit stated that the current digital banking landscape in Nigeria is expected to transform the country into Africa’s fintech hub. They pointed out that the cashless policy and the Central Bank of Nigeria’s Payment System Vision (PSV2020) will promote and bring about innovations in the banking system, drive change in consumer patterns, boost mobile and internet adoption, and increase e-commerce and smartphone penetration.


With a clear understanding of its market and environment, FCMB is well positioned to create more value for its growing customers by delivering exceptional services, while enhancing the growth and achievement of their personal and business aspirations.