First Bank of Nigeria Limited, Nigeria’s most valuable bank brand has again validated its leadership position with the efficiency and creativity of the Bank’s Automated Teller Machines (ATMs) as it presently accounts for 37 percent of bills payment services on ATMs in Nigeria’s banking industry. In 2017, about 402,102 bill payments were made through the Bank’s ATMs while the value of airtime purchase was about N1.7 billion.
To cater for the financial services needs of its customers and in line with its strategy to drive convenience and ease in banking, FirstBank is presently leading in the industry as the Bank with the highest number of Automated Teller Machines (ATMs), with 2,897 ATMs deployed across the Nigeria, making it the nation’s financial institution with the widest retail footprint. The Bank’s ATMs have unique functional features which include bills payment, cash transfer, air-time top-up, cash deposit among others.
The bills payment option is the non-cash transaction feature on the ATM that makes it easier for customers to pay for bills such as Cable TV subscription, post-paid phone bills, and pre- booked airline tickets. These transactions can be executed through the Quickteller option on any of the Bank’s ATMs. The Transfer feature enables customers to transfer money from their accounts to both intra (within FirstBank) and interbank (other banks) accounts, thereby reducing the queues in the banking hall, saving time as well as providing a more convenient option for customers’ money transfer needs. FirstBank is currently responsible for over 15 percent of interbank transactions and 21 percent of airtime vending. As active mobile network users in Nigeria are over 142 million and the need to recharge is on the increase, the Bank’s ATMs also provide the platform for convenient and easy top-up.
To further enhance convenience, FirstBank’s ATMs operate the Cash Deposit function which allows customers to deposit funds without customarily having to enter a banking hall for this transaction. The Bank’s ATMs are also equipped with cardless functionality that makes it easier for non-bank customers to deposit or withdraw money from the ATMs without a Debit card. This is a direct testament to its value proposition of putting customers first.
Chuma Ezirim, the Bank’s Group Head, E-Business, said the distinct developments in FirstBank ATMs were achieved as a result of the desire to reach out to more people in the country and as part of putting customers at the heart of the business. “FirstBank is positioned to meet the needs of its customers and to reach out to the under banked and unbanked. Our mission is to remain relevant in the lives of our customers by continually working at making banking services a more convenient experience for our customers. The Bank’s ATMs dispensed over N2.8 trillion between January and December 2017”, he further stated.
First Bank of Nigeria Limited, a subsidiary of FBN Holdings Plc, is Nigeria’s leading financial services institution by total assets and gross earnings and one of the largest corporate and retail banking financial institutions in sub-Saharan Africa (excluding South Africa). Since its establishment in 1894, the Bank has consistently built relationships with customers focusing on fundamentals of good corporate governance, strong liquidity, risk management and strong capitalization.
FirstBank operates an extensive distribution network with over 750 business locations (623 branches, 61 quick service points and 69 cash centers/agencies), over 2,749 ATM’s and over 9 million customer accounts. The Bank provides a comprehensive range of financial services and has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank DR Congo, FBNBank Ghana, FBNBank The Gambia, FBNBank Guinea, FBNBank Sierra-Leone and FBNBank Senegal as well as its Representative Offices in Johannesburg, Beijing and Abu Dhabi.
FirstBank is the recipient of many awards. The Bank has been named “The Best Bank Brand in Nigeria” five times in a row – 2011, 2012, 2013, 2014 and 2015 – by the globally renowned “The Banker Magazine” of the Financial Times Group. FirstBank’s brand purpose is to always put its stakeholders, customers and partners at the heart of its business, even as it is poised to standardize customer experience and excellence in financial solutions across Sub Saharan Africa, in consonance with its brand vision “To be the partner of first choice in building your future”. The brand promise is to always deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on the FirstBank’s inherent values of passion, partnership and people, to position its customers first in every respect.
For four consecutive years, 2012, 2013, 2014, and 2014 FirstBank was named the “Best Retail Bank in Nigeria” by the Asian Banker International Excellence in Retail Financial Services Awards. Other recent awards include the “Best Bank in Nigeria” in the Euromoney Awards for Excellence, “Best Bank in West Africa” and “Most Innovative Bank in Africa” in the African Banker Awards, “Best Bank in Nigeria” in the EMEA Finance African Banking Awards for the fourth time, “Best Foreign Exchange Services in Africa” in the EMEA Finance Treasury Services Awards, “Best Banking Group in Nigeria” by World Finance Banking Awards, and “Best Financial Reporting Company” by Africa Investor.
Group Head, Marketing & Corporate Communications