FCMB Pledges Support for e-Business

The First City Monument (FCMB), a wholesale banking group with a niche retail banking franchise has pitched its tent behind e-commerce ventures in Nigeria.

According to FCMB, an increasing concern for information communication technology in the country indicates that enterprises gain significantly from e-business and the execution of tasks, electronically.

In this regard, the bank said it was ready to partner with retailers in pushing e-commerce, citing Jumia.com as a beneficiary from this gesture.

Speaking at an event convened by Jumia.com designed to present trends, developments and for the expression of issues that merchants experience, Rolayo Akhigbe, head, Transaction Banking (FCMB), said that in terms of e-commerce the Bank provides business-to-business (B2B) and business-to-consumer (B2C) customer operating models which cover wholesale, retail, real estate trading and other fields.

“Also, on the aspect of financial service, FCMB provides customers with things like online payment, trusteeship, guarantees and financial intermediation,” he said.

Speaking on how the bank seeks to grow businesses of both merchants and customers through e-business, Ikechukwu kalu, head, marketing communications (FCMB) explained that customers’ desires are becoming more widespread and they want more than just plain banking services. “Enhancing our e-commerce portfolio is good for boosting customer loyalty. If you do not provide this (e-commerce) platform, they will go and find it somewhere else,” he added.

Within the last few years, the Bank has offered products that would protect e-commerce participants against fraud from the misrepresentation of identities. “In this way, both sides of an e-commerce transaction would have some assurance that they were properly verified and represented. With existent internet and mobile banking service, it is impossible for FCMB customers in form of individuals or enterprises not to have online businesses,” Kalu said.

‘Flash Me Cash’, Nigeria CommunicationsWeek recalled is a mobile banking product of FCMB which avails customers the convenience of banking with their mobile phones.

“Since its inception in 2002, Flash Me Cash has evolved from a mobile funds transfer platform to a robust electronic banking platform that also provides collection and payment services to corporate clients,” the head, marketing communications (FCMB, maintained.