The upgraded version of Ecobank’s revolutionary mobile app has attracted 3 million new customers in Africa in a period of just 6 months, taking the total number of users to 4 million.
The app builds on the core functionality that saw the original version applauded as a gamechanger for African banking by using digital technology to combat many of the financial inclusion barriers faced by those on the continent.
This includes the dearth of rural branches,affordability of products, high transaction costs and minimum opening balance requirements.
Ade Ayeyemi, Ecobank Group CEO, says Ecobank’s strategic mission is built around using mobile banking to deliver innovative, efficient and cost-effective services to those who havetypically sat outside of the formal economy, and therefore goes far beyond the reach of thetraditional branch and ATM networks.
Subsequently, while the app won one million customers in its first year of launch, upgraded features have seen the rate of sign-ups treble in half of thetime.
So far this year, app usage has been growing at an average of 700,000 new customers permonth.
“Customers can use the app on their mobile to instantly open Ecobank Xpress Account™, which doesn’t have any account fees, paperwork or minimum balance requirements, or to send andreceive money across 33 African countries,” he explains.
“Therefore, our app not only removes the barriers that have financially excluded so many Africans but offers next generationfunctionality to help them send money, make withdrawals or pay for goods and services.
“Kola Adeleke, Ecobank Zambia’s Managing Director says Ecobank is committed to providing all Africans with access to financial services by providing convenient, accessible andreliable digital services.
“We want to be the digital bank of choice for all Africans. All you need is a registered sim cardto have an Xpress account with Ecobank” he said.
Individuals in Zambia can open an account with Ecobank by downloading the Ecobank MobileApp which is available for download from the Google Play Store or Apple Store or by simplydialing *324# from their mobile phones.