Page 39 - ACCESS ANNUAL REPORT 2019

Mobile Banking
Mobile Banking has evolved from having access to your account for traditional banking services to the provision of solutions to various customer essential and lifestyle needs and an aggregation of merchants providing services to multiple target markets.
In response to the growing need for customer empowerment, we have automated account opening on our *901# mobile banking platform for instant accounts to be opened after submission of asic in ormation and ID verification. On our Access Mobile App, we have made it super easy for users to upload required documentation from the comfort of their homes to the bank during onboarding. These initiatives has enabled our customers to onboard without coming to the branch and relieves our resources for more value-added tasks.
One of the results of our consumer analytics drive was the need for credit on demand. This gave birth to our digital lending services including PayDay loan, Device Financing, “Fly Now, Pay Later” and Instant Business loans. Customers have enjoyed the value of accessing instant loans without visiting a branch, which guarantees them discreteness at their most critical times of need.
Beyond the provision of new features like Beneficiary ana ement, Standin Instructions, Utility Services and Cable TV among other Lifestyle Services, we have enabled Groups and Associations to engage their members for subscriptions, dues and conference services on our *901# platform with dedicated extensions.
The GhIPSS Instant Pay (GIP) and Mobile Money Interoperability has again helped us to facilitate payments, interbank and inter-tele-communi- cations payments and transfers.
In 2019, we introduced Merchant Pay on *901# - for non-customers of the Bank. This is a solution provided to enable merchants receive payments via an extension to the existing *901# platform. Customers of merchants simply dial the *901# code, follow the prompts and make payments from account or mobile money.
Cards
Access Bank collaborated with Visa to implement an OTP (One Time Password) service for all Visa card holders. This service provides a secured two factor authentication during online transactions. With the implementation of this service, no fraud case has been recorded for online transactions. In compliance with our card scheme regulatory requirements and peculiar use cases for our customers, we have added the contactless feature to all our card types. All new cards would have the Near Field Communication feature to just tap and pay for their services.
From a careful analysis of the transaction trends of our International cardholders, we shall be introducing a higher range of cards in 2020 for our Private Banking customers to resonate with their li estyle needs, complements and enefits. In collaboration with the other strategic business units, we have issued a number of co-branded and affinity cards or several firms, associations and clubs across various industries
Across the sub-region and the African Continent at large, we are also bringing on board the Verve Card to enable regional card acceptance in 22 other A rican Countries to oster effective and efficient mobilisation of resources.
Point of Sale Terminals
Another si nificant aspect o our di ital transformation journey is our merchant acquiring business, which provides point-of-sale terminals to merchants. Access Bank went live with merchant acquiring in 2017 and has deployed hundreds of terminals already with a great merchant response. Merchant acquiring is a strategic business as it provides increasingly valuable data about customer cash ows and has syner ies with cash management and lending in the future.
Annual Report
growth through innovation
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driving sustainable