Business

Ecobank Mobile App crosses $1bn in processed transactions

Published

6 years ago

April 10, 2018

Olu Emmanuel

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By Odunewu Segun

Ecobank says its unified financial services Mobile App has processed 9 million transactions worth over $1 billion since launch less than 18 months ago.

The company reported last week that it has over 4 million users for its Ecobank Xpress™ Account holders on the Ecobank Mobile App and USSD platforms.

Ade Ayeyemi, Ecobank Group CEO explained that Ecobank’s strategic mission is built around using mobile banking to deliver innovative, efficient and cost-effective services to those who have typically sat outside of the formal economy, and therefore goes far beyond the reach of the traditional branch and ATM networks.

He noted that they had processed almost as many transactions on the Ecobank Mobile App in the first few months this year as they did in the second half of 2017.

“Customers can enjoy 24/7/365 access to financial services from the convenience of their mobile devices with the Ecobank Mobile App,” he said.

“We have brought world-class functionality to consumers in the 33 countries in Africa where Ecobank operates.”

Patrick Akinwuntan, Ecobank’s Group Executive, Consumer Banking says that Ecobank is committed to providing easy access to financial services for all Africans, leveraging the ubiquity of mobile phones via the bank’s Mobile App and at Ecobank Xpress™ Point agents wherever physical interaction is necessary especially for cash deposits.

“We aim to be the leading consumer financial services franchise in Africa and have developed a range of products and services relevant to meeting the daily banking, financing, investment and transactional needs of our customers,” said.

“The Ecobank Mobile App provides easy access to these services anytime and anywhere and we are very pleased with the fast and increasing uptake.”

The bank, which is yet to release its 2017 annual report has its share price trading at N17 per share.