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  • Access Bank Launches Awareness Campaign to Combat E-banking Fraud

    Access Bank Launches Awareness Campaign to Combat E-banking Fraud

    As part of its continued commitment to educate and protect customers from e-banking fraud, Africa’s largest retail bank, Access Bank Plc, has launched an awareness campaign aimed at sensitizing customers on measures they can take to protect themselves.

     

    The campaign, themed ‘Banks Don’t Ask’, focuses on three key activities that account for most fraud incidents in Nigeria, phishing, SIM card fraud, ATM fraud and POS fraud.

     

    From all indications, the rates of phishing, SIM card fraud, ATM fraud and POS fraud in the country has tripled in the past few years. Also, the sophistication with which these activities are carried out has evolved, resulting in unsuspecting customers being highly susceptible to these criminal activities.

     

    Victor Etuokwu, ED Retail Banking stated, “In the past few years, there has been a significant increase in the rate of internet-based and technology-perpetrated fraud.”

     

    He added: “We want to ensure that our customers are not only protected but are also aware of the tactics employed by fraudsters. Access Bank will never request for personal banking information such as your 16-digit card number, password, PIN, BVN, CVV or One-Time Password (OTP).

     

    “So, customers are also advised to never share this information with anyone even if they claim to be from the Bank.”.

     

    To report suspicious activities (phone calls, emails or text messages), customers can call Access Bank on 01- 2712005 or send a mail to contactcenter@accessbankplc.com.

     

    To prevent SIM card fraud in cases of lost or stolen devices, customers can simply dial *901*911# from any phone deactivate their USSD profile.

     

     

  • Access Bank Launches AccessX to Enhance Self-Service Banking

    Access Bank Launches AccessX to Enhance Self-Service Banking

    In a bid to provide top-notch digital service to its customers and demonstrate the best of innovative solutions through self-service banking, Access Bank Plc has launched AccessX that it termed an experience centre.

     

    The bank explained that the experience centre is a one-stop technology hub where its customers are taken on a digital tour spanning from Artificial intelligence to Robotics, and Smart data.

     

    The financial institution said the centre is related to digital channels and a place to demonstrate the best of its innovative solutions through self-service banking.

     

    Speaking with our business correspondent, the bank’s Executive Director, Retail Banking, Victor Etuokwu, said: “AccessX is an additional touchpoint to back up our customers.

     

    “It is recognition of the fact that 90 percent of our transactions are engagement with the customers is digital and so those require support from us in some forms either on their cards, mobile apps or internet banking are given.

     

    “As we are setting up this experience centre across the country, our customers will  have a point of contact where they can get support, find out what is new on digital and get speedy service that is outside of the traditional branches.

     

    “The traditional branches do have their place, they have something to support with but AccessX centre is 100 per cent digital support.”

     

    Providing details on other digital services that customers can benefit from the AccesX centre, Daniel Akumabor, the Chief Technology Officer – Channels, said: “There are a lot of concepts and services we can afford customers and that does not mean that this is an exclusive place where we do all that.

     

    “Customers coming in here can do a lot of things. They can resolve challenges, complaints, enquiries or requests across our digital channels.

     

    “When they say digital channels, that stands for when there is a card, USSD, internet banking, mobile app are paramount for cooperate customers.

     

    “And as a bank, we are very innovative, we have a lot of our own solutions to the internet market, and we have things like face field, swift pages and merchant enquiries solution for our customers.

     

    “As we roll out all those digital channels, we are able to them satisfied. This also gives opportunities for the customers to have full digital experience in channels we are all aware of and also it helps us get feedback to improve our channels and see the way the customers interact with our channels.”

     

    And when asked about how accessible it is for customers anywhere, Akumabor said: “Customers from any part of the world can reach excellent centres and get things resolved for them.

     

    “Here is the difference, we know that our customers like to do things digitally and if they go to any of our branches for complaints, there would always be some things that they will need to refer to service engineer at the bank’s office and tell the customers something like this would be resolved in the next few hours.

     

    “The reason they do that is they would refer the matter to somebody else who is going to work on it but when you walk in here that is not going to happen because the tech skits can do it on the spot.”

     

    To know more about AccessX please click HERE.

     

  • Grobank Formally Becomes Access Bank South Africa

    Grobank Formally Becomes Access Bank South Africa

     

    Grobank Limited has been officially renamed Access Bank South Africa Limited, this followed the completion of all regulatory procedures.

     

    The deal was finalized after Access Bank’s acquisition of controlling shares in the former Grobank Limited, South Africa.

     

    With this development, Access Bank South Africa Limited is positioned to deliver a robust banking operation that connects key African markets.

     

    At an official closing ceremony in Sandton on Monday, top executives of the two banks were upbeat about new opportunities for clients, noting that the Bank will continue to support all its stakeholders, while opening doors to growth both in the short and long term.

     

    CEO of Grobank Bennie van Rooy said, “This is an extremely exciting day for the South African banking industry. Our corporate customers will now have increased access to trade finance, treasury, international payments and loans through the wider distribution network offered by Access Bank’s presence in the key trade corridors that connect Africa to the rest of the world.

     

    “Banking with Access Bank South Africa means greater security as well as access to more products and services through a best-in-class digital platform, and a full retail banking suite will soon be on offer.”

     

    CEO of Access Bank Plc, Herbert Wigwe said: “Today’s ceremony in South Africa seals our commitment to delivering our strategic aspirations of becoming Africa’s Gateway to the World, in line with our vision to be the World’s Most Respected African Bank.

     

    “We look forward to the many opportunities our collective experience and deep understanding of the African market brings to our valued clients, and the journey ahead being one of great promise for our institution and the continent.”

     

    Access Bank Plc. is a leading full-service commercial Bank operating through a network of more than 600 branches and service outlets, spanning three continents, 12 countries and 31 million customers. The Bank employs 28,000 people in its operations in Nigeria and has subsidiaries in Sub-Saharan Africa and the United Kingdom (with a branch in Dubai, UAE) and representative offices in China, Lebanon and India.

     

  • Access Bank Posts Gross Earnings of N764.7bn, Profit N125.9bn In 2020

    Access Bank Posts Gross Earnings of N764.7bn, Profit N125.9bn In 2020

     

    In spite of a challenging economic and regulatory landscape, Access Bank Plc has recorded gross earnings of N764.7 billion for the financial year ended December 31, 2020.

     

    The Bank’s audited gross earnings shows a 15 per cent improvement from the N666.75 billion posted for the comparative period of 2019. While the Bank’s Profit before Tax stood at N125.9 billion, it also posted anon-interest income of N275.5 billion, a significant 112 per cent y/y growth from 2019. This is despite the cost of operating its enlarged franchise.

     

    According to the Group Managing Director and CEO of Access Bank Plc, Herbert Wigwe, the institution’s resilient performance “is testament to the effectiveness of our strategy and capacity to generate sustainable revenue.”

     

    “The strategic actions that the Bank has taken over the past 12 months evidence a strong focus on retail banking and financial inclusion, an African expansion strategy and a drive for scale for sustainable value creation. In 2020, Access Bank proudly opened its doors for business in Kenya and Mozambique, further increasing our footprints across the African Continent. Access Bank Zambia also concluded the acquisition of Cavmont Bank Limited in January 2021 and the Group recently announced the approval by relevant regulatory authorities for the acquisition of Grobank Limited, creating an inroad into the South African market in realization of the Group’s strategic ambitions.

     

    “In view of the opportunities that exist in the market, we will be transitioning to a HoldCo structure. The Bank has received the Approval-In-Principle from the Central Bank of Nigeria for the restructuring and the HoldCo will consist of 4 subsidiaries in order to tap into the market opportunities that are available in the consumer lending market, electronic payments industry and retail insurance market. Going into the fourth year of our 5-year cyclical strategy, our focus remains on consolidating our retail momentum and expanding our African footprint in a sustainable manner,” Wigwe said.

     

    Access Bank Plc recorded a consistent growth in its retail banking business, reporting a 5.8 million growth in customer sign-on during the year through our financial inclusion efforts. This increase in customer base led to a retail revenue of N177.2 billion, a 64.4per cent increase from its full year 2019 figures of N107.8bn. The Bank’s customer deposits also grew by 31 per cent to N5.59 trillion in December 2020 with savings account deposits standing at N1.31trillion. Similarly, net loans and advances grew by 18 per cent to N3.61trillion in comparison to its full year 2019 figures of N3.06 trillion.

     

    As the Bank intensified recovery efforts, undertook significant write off and leveraged its robust risk management practices, its asset quality improved to 4.3 per cent  compared to its 2019 report of 5.8 per cent and this is expected to continue to trend downwards as it strives to surpass the standard it had built in the industry prior to the merger with Diamond Bank.

     

  • Access Bank Gets Go-Ahead to Acquire South African Bank

    Access Bank Gets Go-Ahead to Acquire South African Bank

     

    Access Bank says it has acquired regulatory approval for its proposed acquisition of Grobank Limited, a South African bank.

     

    This was announced in a statement signed by Sunday Ekwochi, the company secretary, on Friday.

     

    Grobank, formerly known as South African Bank of Athens, is a financial firm committed to supporting the food and agriculture value chain in South Africa and the African continent at large.

     

    In September, Access Bank said it received the “approval in principle” of the Central Bank of Nigeria (CBN) to restructure into a holding company.

     

    The bank also announced a definitive agreement with GroCapital Holdings to invest in Grobank Limited over two tranches.

     

    Ekwochi said Access Bank has received the approvals of both South African and Nigerian regulatory authorities for its proposed acquisition of Grobank.

     

    He said the development is a significant milestone in the transaction, which is expected to be completed in the second quarter of 2021.

     

    The company’s secretary quoted Herbert Wigwe, chief executive officer of Access Bank, as saying the approval is in line with the company’s vision of becoming the most respected bank out of Africa.

     

    “Today’s announcement represents significant progress in delivering on our strategic intent of becoming Africa’s Gateway to the World in pursuit of our vision to be the World’s Most Respected African Bank,” he said.

     

    “Our presence in South Africa will no doubt accelerate the attainment of our goal of delivering our More than Banking promise to 100 million unique customers across the continent. It will also build on our existing foundation and deliver enhanced value to our shareholders, employees and other stakeholders.”

  • Delayed Reversals: Access Bank Gives Customers One Business day Reversal Window Guarantee or 5 Times Refund in Fees

    Delayed Reversals: Access Bank Gives Customers One Business day Reversal Window Guarantee or 5 Times Refund in Fees

     

    Driven by its commitment to deliver best-in-class service to all its customers, Africa’s largest retail bank, Access Bank PLC, has upgraded its service platforms to allow for resolution of failed transactions within one business day.

     

    The Bank has guaranteed that all failed transactions will be reversed within one business day. It has also affirmed that in the event that reversal time exceeds one business day, customers will be entitled to a refund of up to five times the bank transfer fees for that transaction.

     

    Speaking on this development, Ogor Chukudebelu, Access Bank’s Chief Customer Experience Officer, said that Access Bank is committed to “offering more banking convenience for all customers.”

     

    “Access Bank understands the financial and economic hardships caused by the COVID-19 pandemic. While we have put various social impact projects in place, we have also upgraded our banking platforms to ensure that customers can transact without experiencing delays. To reiterate our commitment to providing an excellent service, Access Bank will be refunding customers up to five times the bank transfer fees when a failed transaction is not reversed within one business day.

     

    “As we continue to make great strides as a financial institution, we will not relent in delivering superior value and bespoke financial services that suit the banking needs of our customers,” Chukudebelu said.

     

    Without compromising on its promise to deliver services with speed and maximum security, through the implementation of sustainable banking practices, Access Bank continues to lead the revolution for financial institutions around the globe; effectively merging technology and people to deliver stellar client service to customers across all its countries of operation.