Nigeria’s banking landscape is currently undergoing a huge
transformation. For years, the country has been heavily cash-reliant with low
levels of financial inclusion. But ever since the Central Bank of Nigeria
unveiled plans for a nationwide cashless policy scheme in March 2019, more and
more citizens have been engaging in digital transactions.
A number of financial institutions have been quick to
capitalise on this trend and these are the organisations celebrated by World
Finance’s Digital Banking Awards. In 2018, Access Bank stood out among
Nigeria’s top banks, taking home three awards, including Best Digital Bank,
Best Mobile Banking App and Most Sustainable Bank.
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Since its merger with Diamond Bank in April 2019, Access
Bank has become the largest bank in Africa by customer base. In a video
interview, CEO Herbert Wigwe spoke to World Finance about how the bank is
transforming its operations to meet new demands. As part of this, the bank has
introduced several solutions, including WhatsApp banking and an AI-powered
chatbot.
Another way in which the bank is adjusting to its larger
customer base is by reforming its corporate governance. Wigwe spoke with World
Finance in a separate video interview about the importance of strengthening the
bank’s global compliance framework in a digital age.
Similarly, when it comes to sustainability, Access Bank
continues to lead the way in Nigeria. It recently launched Africa’s first
corporate green bond, as certified by the Climate Bond Initiative, and has
pioneered policies to increase support for female entrepreneurs in the country.
This includes its W Initiative and the Access Women Network, both of which help
women in Nigeria grow their business capabilities.
In conversation with World Finance, Wigwe also spoke at
length about the bank’s sustainability and financial inclusion goals, touching
on the importance of several environmental and social programmes. Undoubtedly,
the CEO’s passion has served as the main driving force behind the bank’s
award-winning sustainable business practices.
To read more about Access Bank’s digital-first policies,
pick up the latest issue of World Finance, available in print, on tablet and
online now.