LONDON, Nov. 04, 2019 (GLOBE NEWSWIRE) — Nigeria’s banking landscape is currently undergoing a huge transformation. For years, the country has been heavily cash-reliant with low levels of financial inclusion. But ever since the Central Bank of Nigeria unveiled plans for a nationwide cashless policy scheme in March 2019, more and more citizens have been engaging in digital transactions.
A number of financial institutions have been quick to capitalise on this trend and these are the organisations celebrated by World Finance’s Digital Banking Awards. In 2018, Access Bank stood out among Nigeria’s top banks, taking home three awards, including Best Digital Bank, Best Mobile Banking App and Most Sustainable Bank.
Since its merger with Diamond Bank in April 2019, Access Bank has become the largest bank in Africa by customer base. In a video interview, CEO Herbert Wigwe spoke to World Finance about how the bank is transforming its operations to meet new demands. As part of this, the bank has introduced several solutions, including WhatsApp banking and an AI-powered chatbot.
Another way in which the bank is adjusting to its larger customer base is by reforming its corporate governance. Wigwe spoke with World Finance in a separate video interview about the importance of strengthening the bank’s global compliance framework in a digital age.
Similarly, when it comes to sustainability, Access Bank continues to lead the way in Nigeria. It recently launched Africa’s first corporate green bond, as certified by the Climate Bond Initiative, and has pioneered policies to increase support for female entrepreneurs in the country. This includes its W Initiative and the Access Women Network, both of which help women in Nigeria grow their business capabilities.
In conversation with World Finance, Wigwe also spoke at length about the bank’s sustainability and financial inclusion goals, touching on the importance of several environmental and social programmes. Undoubtedly, the CEO’s passion has served as the main driving force behind the bank’s award-winning sustainable business practices.
To read more about Access Bank’s digital-first policies, pick up the latest issue of World Finance, available in print, on tablet and online now.
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