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UBA To Reactivate Retail Banking By 2021

By Bill W. Cooper

The United Bank for Africa (UBA) is expected to reactivate its retail banking sector by the year 2021 aimed at meeting the needs of its customers across approximately 20 countries in Africa.

Speaking via zoom in Lagos, Nigeria with a cross session of journalists over the weekend, UBA global Retail and Liabilities head, Ogechi Altraide said that at UBA, they have developed very deep and customer-centric solutions that have made them the number one Bank ranking over time.

She said that the UBA have been well prepared ahead of the Covid-19 pandemic and had rolled-out a number of products that enabled customers to carry out their daily transactions with ease from the comfort of their homes.

According to her, their retail footprint cuts across 20 African countries, where they serve over 20 million customers through well-researched platforms including over 20,000 point of sale (POS) as well as 3,000 ATMs deployed across the continent.

Madam Altraide added, “We have well over 10 million active cards, while our very active and highly applauded Mobile App and USSD platforms serve several millions of subscribers every second.”

She explained further, “Our retail banking platforms cater to all ages and classes with the Kiddies and Teens Account – where parents can earn rewards and bonuses for saving for their kids, while also enjoying support in terms of scholarships and health insurance.”

Commenting on the bank’s increasing support for the MSMEs,  she emphasized, “The bank offers both financial and non-financial services to this all-important sector as well as access to loans, and at UBA, we recognize that SMEs are important to economic growth; therefore, our various offerings for MSMEs is positioned to support them in this regard.”

Madam Altraide further narrated that other retail propositions the bank has developed to promote financial inclusion are Diaspora Banking where customers can enjoy the same quality of services in all locations around the world through UBA Connect and Africash; and Agency Banking, which makes use of digital channels that allow customers to access UBA banking services right in their neighborhoods from our dedicated Agents.

“Apart from UBA mobile banking, USSD, internet banking and LEO – UBA’s virtual assistant other innovative platforms that drive the bank’s retail business include UBA’s Click Credit – a much loved and accepted facility that makes instant cash available to customers with salary accounts within minutes,” she averred.

Meanwhile, the UBA retail and liabilities head intoned that already, over 50,000 people have benefited from the facility, noting that customers can access up to US$1,000 to 5,000 in a matter of seconds.

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