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Business > Money Market
First Bank promotes financial inclusion with card-less ATM innovation
By Press Release
August 3, 2012 23:01:15pm GMT
FirstBank

A passion to serve and extend financial services to the unbanked and under-banked has inspired the introduction of a card-less Automated Teller Machine (ATM) Transfer service designed by First Bank of Nigeria Plc (FirstBank) to  ensure that people without bank accounts or payment cards can receive funds from its ATMs across the nation.

FirstBank’s management said the innovative Fund Transfer Service aims to complement the cashless policy of the Central Bank of Nigeria (CBN) geared towards achieving financial inclusion of the unbanked and underbanked into mainstream financial services.

FirstBank’s Group Managing Director/Chief Executive Officer, Mr. Bisi Onasanya said this innovation from the Bank aligns with the concept of financial inclusion as a panacea for sustainable economic growth and development, and enhancing entrepreneurship as well as wealth creation. “With this innovative offering, our existing and prospective customers now have another platform to enjoy hitch-free money transfer services. FirstBank as a leading player in the sector is proud to spearhead the quest for financial inclusion as the CBN pursues the target of attracting 50 million unbanked Nigerians to the country’s financial system,” he stated.

According to Head, Marketing and Corporate Communications, Mrs. Folake Ani-Mumuney, “the funds transfer service is targeted at customers who have the need to transfer funds to individuals who do not have (immediate) access to a payment card or bank account for instant cash retrieval.” She further said that the product offers a fast, convenient, reliable and secure way of transferring money while ultimately providing a platform for many more people from the low income segment and grassroots populations to take advantage of FirstBank’s broad range of tailored financial services.

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