FCMB Initiates Support for Ecommerce in Nigeria

The increasing concern for Information Communication Technology (ICT) in the country indicates that enterprises gain significantly from e-business and must protect the industry for further growth.

Head, Transaction Banking, the First City Monument (FCMB), Rolayo Akhigbe, who stated this at the first E-commerce conference, which held in Lagos at the weekend, noted that FCMB was ready to partner with online retailers in pushing e-commerce and cited Jumia.com as a beneficiary from this gesture.

According to her, FCMB, a wholesale banking group with a niche for retail banking franchise had pitched its tent behind e-commerce ventures in Nigeria in order to help develop the new trend.

She noted that in terms of e-commerce the Bank provides business-to-business (B2B) and business-to-consumer (B2C) customer operating models, which cover wholesale, retail, real estate trading and other fields.

“On the aspect of financial service, FCMB provides customers with things like online payment, trusteeship, guarantees and financial intermediation,” she said.

Speaking further, the Head, Marketing Communications at the FCMB, Mr.  Ikechukwu Kalu, explained that customers’ desires are becoming more widespread hence they want more than plain banking services.

He said: “Enhancing our e-commerce portfolio is good for boosting customer loyalty. If you do not provide this (e-commerce) platform, they will go and find it somewhere else.

He noted that the bank in the last few years, has offered products that would protect e-commerce participants against fraud from the misrepresentation of identities.

“In this way, both sides of an e-commerce transaction would have some assurance that they were properly verified and represented. With existent internet and mobile banking service, it is impossible for FCMB customers in form of individuals or enterprises not to have online businesses”.

He added that ‘Flash Me Cash’, is a mobile banking product of FCMB, which avails customers the convenience of banking with their mobile phones.

“Since its inception in 2002, Flash Me Cash has evolved from a mobile funds transfer platform to a robust electronic banking platform that also provides collection and payment services to corporate clients,” Kalu added.

Source: ThisDay