Nigeria’s largest mortgage bank, Abbey Mortgage Bank Plc, launched its mobile app today, March 14, 2022. The bank has taken the initiative to facilitate financial transactions for its customers, so the need to se Physically going to the bank is completely eliminated while the mobile app is optimally utilized to meet the transaction needs of existing and new bank customers.
The mobile application can be downloaded from the IOS store and Google Playstore.
Group Head, Retail and E-Commerce, Felix Omodayo-Owotuga explained the features of the mobile app and its distinguishing features stating that the mobile app is “a menu-driven solution that allows you to access it even from the comfort of your home”, to reach customers and enable them to transact wherever they are.
The mobile app makes onboarding easy, with a one-step interface that allows new customers to onboard without a Bank Verification Number (BVN) or NIN. New customers who do not remember their BVN can simply provide a bank account number linked to their BVN, through which the app can obtain the necessary details for registration.
After onboarding or registration, an app feature allows customers to log in with a fingerprint or facial identification (ID) to enhance individual account security.
Additionally, the mobile app has a “Register to become an owner » feature, a target product to help customers save for financial obligations to build their own home. The Save to Own feature allows customers to save periodically, weekly or monthly.
Customers can also apply for mortgages, open a term account through the app instead of visiting a physical branch.
The project of the mobile application is to present all the financial services open to individuals and legal entities as well as employees and non-employees.
The management explained that the bank’s products are channeled to employees and non-employees because the bank has a structure that has been perfected over the years – on banking services and offering mortgage support to these categories of people , working with unions and co-agents.
Very importantly, the bank has also taken the initiative to provide a panic code in case of emergency. In situations where customers lose their devices and need to block their Abbey account, the panic code *5103*911# has been created to accommodate this service.
Talking about how the mobile app could boost the company’s long-term profitability, Mr. Felix Omodayo-Owotuga said, “The primary focus of the app is not profitability but customer satisfaction, ease of transaction for customers to ensure that we can move our customers from branches to a place where they can transact securely simplicity “.
“While we can’t eliminate profitability when customers initiate a transaction, the focus of the mobile app is actually from the perspective and perspective of customers”he said.
He outlined the bank’s plans on integrating the mobile app with the e-naira wallet. He stated that “We are going to integrate the e-naira wallet. We have started engagement with CBN and as we release our [mobile app] Version 2, the e-naira wallet will also be on the app”.
He further told Nairametrics representatives saying, “The Director of Payments of the Central Bank of Nigeria, Mr. Jimoh, advised us that we should start talking and start discussions regarding the e-naira wallet. So we hope to be able to finish this before releasing version 2.0. »
Mrs. Lolita Ejiofor, answered questions on what distinguishes the Abbey mobile app from other banking apps. She says, “the onboarding process makes the Abbey app stand out as it is very simple and quite secure… The app can be transferred from phone to phone, without having to go to the bank. Abbey Mortgage Moves Towards An All-Tech Bank »