United Bank for Africa Plc (UBA) is investing over N2billion on the
installation of automated teller machines (ATMs) across the country to deepen
cash-less drive of the Central Bank of Nigeria (CBN) and financial inclusion in
line with the regulator’s Financial System Strategy (FSS20) 20:2020.
UBA’s former Head of ATM, Obinna Uma, who spoke on the sideline at a
forum to showcase the lender’s e-banking bouquets over the weekend, said the
lender was not relenting to take banking services to its numerous customers.
According to him, the bank has concluded plans to deploy another set of
1000 new ATMs across the country this year, adding that it is also doing a lot
of partnership with technology firms to upgrade all ATMs. He said it had been
discovered that ATMs have the greatest reach in terms of alternative payment
channels, stressing that the lender will do more in that direction.
Earlier, the Divisional Head, E-Banking Products, Dr Adeyinka Adedeji,
said based on the premium paid on e-banking by the lender, it has a dedicated
structure, adding that it is standing on its own with its independent budget
and workers.
He said the lender is positioning its e-banking service such that people
will be attracted to open an account with the bank because of its excellent
service, stressing that in the sub-region, the banking model remains
outstanding.
Adedeji said the bank is de-emphasising physical structures, but
investing massively on e-banking products, quality assurance and management to
ensure that the use of alternative channels of payment are encouraged and embraced
in the country.
He said the cash-less policy of the CBN has recorded a huge success
because it compelled lenders who were not prepared for it at the time it took
off, to hurriedly put the requisite infrastructure in place.
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