Intercontinental Bank Wins Interswitch e-Payment Awards

Intercontinental Bank Plc has emerged winner of the best e-payment bank of the year and best e-payment team of the year in the maiden edition of Interswitch Nigerian e-Payment Awards.
The awards presentation took place in Calabar, South-South, Nigeria, during the second annual Techno-Interactive Conference organized by Interswitch.
The awards were won based on the bank’s market dominance and leadership of the domestic card and channels business in the Nigerian e-payment industry.
Mitchell Elegbe, managing director/CEO of Interswitch explained that the awards were in recognition and celebration of financial and non-financial institutions that have distinguished themselves in the last twelve months in the areas of deployment and usage of e-payment to enhance service delivery to their customers.
Elegbe said that the awards’ jury used the monthly Interswitch’s Switch Reports (ISR) to determine the eventual winners. “The criteria of the awards is very open, scientific and most importantly, objective; because the jury were only tasked to analyzed the ISR in the last twelve months to determine the winners for each of the categories. The winners only mirrored their performances in the last twelve months.”
Out of the17 banks nominated for the awards, Intercontinental Bank won the two major awards for excellence designated for financial Institutions.
In winning the best e-payment team of the year award, Intercontinental Bank was adjudged by the organisers as the first bank to launch Verve card, demonstrated growth in the e-payment business since it has the highest number of Verve cards and processes the highest number of transaction via the switch.
The bank also has one of the largest networks of ATMs and POS in the industry coupled with innovative use of e-payment products, deployment of various card schemes, business and educational portals, channels schemes and services.
As the Best e-payment Bank, Intercontinental Bank was adjudged to have offered the highest number of e-payment solution cutting across various market segmentation and classes. Leveraging on its e-payment platforms the bank attracted the largest revenue collection volume through its AutoPay, PayDirect web portal sites and other e-commerce solutions.
One of the high points for Intercontinental Bank at the awards was the revelation that the bank recorded the highest network availability and up time of 99 per cent with each transaction returning success rates of 99 per cent for each transaction across channels and terminals.