Heritage Bank: Financial institution capitalises on huge mobile banking market

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KPMG Nigeria senior manager, Bode Abifarin

There are 148 million mobile phone subscribers across the country with at least 92 million of them able to get access to the internet via their phones.

It’s scary to think that not too long ago if you weren’t at home or work the only way someone could contact you was if they sent out a search party to look for you.

But now mobile phones are everywhere and if you’d take a minute to look up from your own phone’s screen, you’d notice that Nigerians have a serious addiction to their devices.

According to consultancy firm KPMG Nigeria there are 148 million mobile phone subscribers across the country with at least 92 million of them able to get access to the internet via their phones.

But when it comes to online banking it appears Nigerians are hesitant to switch over to a more advanced, convenient and technologically savvy way of handling their banking needs.

KPMG Nigeria senior manager, Bode Abifarin found that just 42% of Nigerian banking customers said they had used online banking platforms.

It was also reported that only one in three customers had ever considered using mobile devices to avoid a trip to the bank, which is at odds with most western countries where bank branches are closing down because they’re just not necessary anymore.

Mr Abifarin said getting customers to come on board and start banking via the internet and their phones “should be a top priority” for Nigerian banks.

But in order for customers to take up the offer he said banks needed to “iron out the kinks and educate customers about the convenience and security of online banking.”

In many respects Heritage Bank is one of the few Nigerian banks that has made a concerted effort to grab the internet age by the scruff of the neck and has recently released its latest upgraded mobile banking app.

With added security measures and way more features, it isn’t really surprising that customers have rated the app 4.1 on Google Play.

WHAT'S NEW

- Bug Fix.

- Check out quicker using Masterpass QR.

- View Transaction History.

- New User Interface.

- Locate the nearest bank branch with ATM Locator.

- DStv/Gotv account verification.

- Pay DStv/GOtv bills without logging in.

- Buy airtime without logging in.

With the future of banking in Nigeria being online, banks have spent millions upgrading their systems to accommodate modern thinking Nigerians.

Heritage Bank’s latest app proves that Nigerian banks are listening to the experts and are more than ready to take banking to the next level.

This is a sponsored post by Heritage Bank.



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