E-Financial
UBA’s LEO Hits 3m User Mark, Remains Smartest Banking Chatbot
United Bank for Africa (UBA) Plc, Pan African financial institution, has in the last three years won the hearts of its customers with LEO, its artificial intelligence chat bot, which has proven to be the most formidable artificial intelligence chat bot till date; serving an ever-increasing clientele who now have less transaction hassles to worry about.
Leo is an AI chatbot for banking services currently available on Facebook Messenger, WhatsApp, Apple Device and is set to launch soon on other social media platforms.
Birthed January 11, 2018, with a firm resolve to prioritise its customers as well as put the bank at the heart of disruptive technologies that will transform the experience of esteemed customers, UBA did just that with a million users becoming hooked in less than three months of its LEO’s inception.
Three years later, and with over 3 million customers and counting, UBA’s LEO, has without doubt, remained the smartest Banking Chatbot in Nigeria because of its speed and quick learning intelligence and has continued to evolve with plenty to offer its teeming customers.
While other financial institutions are still trying to figure to find their feet as regards AI, UBA’s LEO has become a massive success as the AI continues to consolidate on it successes and accolades winning several awards overtime.
The chat bot continues to enjoy periodic and systematic upgrade with special emphasis on enhanced advancements and specialised unique features which have clearly earned the chatbot over 3 million Users.
Mr. Kennedy Uzoka, group managing director/chief executive officer, UBA, affirmed that UBA customers indeed agree that LEO is one of the bank’s biggest investments in cutting-edge technology and has been steadily changing the face of banking in the continent.
“UBA’s vision has always been and will remain a dominating force in Africa’s digital banking space. Our resolve is to provide unparalleled experience across all channels. We are a technology-driven institution with vast knowledge in the business that we do and LEO, being a tested, dependable and intelligent personality, replicated on WhatsApp the success it recorded on the Facebook Messenger platform where it started its journey and later on the IOS (iPhone Operating System) platform . It is a solution that is from the customer’s standpoint, easy to use by anyone regardless of demography. LEO is always ready and waiting to help with any form of banking service,” Uzoka said.
“As an app that has been in existence for over nine years, reaching more than 1.5 billion people in over 180 countries, WhatsApp has become very essential in lifestyle and that is why UBA saw the need to include LEO’s services in that very important app and the premium private chat platform has assured that there will be no spam messages, as the development is to enable businesses serve their customers with useful information,” the GMD stated,
Uzoka explained that LEO is already present in over 20 African countries and in three languages and has a number of rich and robust features bound to mesmerise existing and potential customers with services that are extremely fast and secure as all transactions and enquiries are encrypted, end-to-end.
LEO has the ability to do a wide range of things, including funds transfer, call card top-up, checking of account balance, retrieval of bank statements, instant account openings for new customers, statement to embassy/other banks/microfinance, purchase of airtime/ data, paying of bills (LCC, PHCN, Cable TV), effectively helping with savings and spend limit.
The AI chatbot also boosts of remarkable innovative features that allows customers make banking Services – Request/stop/confirm Cheques, Block card, Log & track complaints, ATM/Branch Locator, Freeze accounts, and check weather etc.
Other features include Customer Care complaint resolution, linking of new account, flight Payment, linking and Funding of Prepaid Card, Travel Notification, Wakanow services and Dubai Visa service.
The GMD pointed out that, customers who have engaged with LEO are more than delighted about their experience and credit it for automatically extracting account details without hassles, adding that “Testimonies abound about how it is generally easier to use LEO compared to its counterparts. For example, LEO automatically detects account numbers via a customer’s WhatsApp mobile number and goes ahead to seamlessly help customers check their account balance as well as top-up airtime”.
Reviews from customers note that LEO is more personable, more humane, and it feels like talking to an experienced customer service/Fulfilment representative. The Bot also allows customers to easily lodge and process complaints with adequate and timely feedback.
UBA offers banking services to more than twenty-five million customers, across over 1,000 business offices and customer touch points, in 20 African countries.
With presence in the United States of America, the United Kingdom and France, UBA is connecting people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance and ancillary banking services.
E-Financial
9PSB Promotes Financial Literacy @ World’s Savings Day 2024
9 Payment Service Bank (9PSB), a leading digital payment service provider committed to advancing financial inclusion in Nigeria, observed World Savings Day 2024 by conducting a financial literacy and mentorship programme for students at Fountain Heights Secondary School in Surulere, Lagos.
This initiative aligns with the Central Bank of Nigeria’s (CBN) directive for all financial institutions to implement financial literacy programmes aimed at students, youth, and the public. The goal is to instill a culture of financial discipline, savings, and prudent money management practices among Nigerians.
At the event, Tolani Jemi-Alade, Chief of Business Planning, Operations, and Resources at 9PSB, addressed the students, underscoring the importance of cultivating positive financial habits, particularly considering economic uncertainties. She stressed the need for young individuals to integrate into the formal financial system, stating,
“We encourage every young person with a regular income to open a bank account as an essential step towards financial independence and savings for future needs. Money is necessary for day-to-day transactions and to manage unforeseen circumstances. Early planning is crucial, as these needs are inevitable.”
Tolani further highlighted the significance of World Savings Day, as championed by CBN, which aims to raise awareness of financial literacy and promote a culture of saving, particularly among students and youth. She emphasized the importance of understanding and leveraging formal financial services for long-term financial security.
Oladimeji Saka, Lead for Retail Banking and Customer Acquisition at 9PSB, echoed these sentiments, noting that financial literacy should begin at an early age. He advised that parents play an instrumental role in guiding their children through transitional stages to adulthood, equipping them with the necessary financial knowledge to manage their finances responsibly.
In his remarks, the Vice Principal Academics, Mr. Romanus Emegwakor, who represented the Principal of Fountain Heights Secondary School, expressed his gratitude to 9PSB for their commitment to empowering students with financial knowledge.
“We are extremely appreciative of 9PSB for this invaluable financial literacy programme. It is crucial for our students to understand the significance of financial discipline, and we believe this initiative will help them develop the necessary skills to make informed financial decisions in the future,” he said.
World Savings Day is an annual global campaign dedicated to educating individuals, particularly the youth, on the importance of prudent financial planning and saving through formal banking systems.
E-Financial
Kekere-Ekun, CJN Blames Reliance on Telecom Services for Online Banking Glitches
Kudirat Kekere-Ekun, chief Justice of Nigeria and chairman of the Board of Governors, National Judicial Institute Justice has blamed telecommunications companies for the glitches experienced in the country’s banking sector.
Kekere-Ekun said this in her keynote address at the 2024 National Workshop for Justice and Judges on Legal Issues in Telecommunications with the theme, ‘The Role of the Judiciary in Accelerating Digital Transformation in Nigeria.’
The blame on telcos comes in the wake of multiple glitches in online services. On August 14, 2024, customers reported that the Guaranty Trust Bank (GTBank) website was down, leading to speculation that it had been cloned and customer data intercepted.
The CJN said, “I will like to quickly bring our attention to two issues which I consider to be pivotal and which revolve around cyber security and the attendant challenges of exploring the digital space.
“The first is the increased risk of the personal data of consumers being misused or compromised by unscrupulous persons, thus necessitating the need for improved strategies and innovation for consumer protection in the telecommunications sector.
“Also, worth noting are deficiencies in the Banking Sector and which are attributable to reliance on digital services provided by the Telecommunications Sector. There is for instance the major challenge posed by electronically backed transactions which is commonplace in the Banking Sector.”
The CJN said these glitches have led to several issues including hacking of online banking platforms as well as banks being compromised.
“Concerns in this regard include the spate of customers whose online banking platforms have been hacked, as well as banks being compromised due to technological glitches not factored into their day-to-day operations. Consequently, these and several other challenges have resulted in a number of disputes which frequently require adjudication,” she said.
Kekere-Ekun said the deployment of technology in telecommunications plays a pivotal role in the advancement economic system of any country.
She, however, said there is a need to proffer solutions to legal issues arising from digital services provided by the telecommunications sector.
“It is also my expectation that the forum will equip Judicial Officers with the technical skills required for adjudicating disputes arising from the sector and keep them abreast with global standards and best practices,” she added.
E-Financial
Ecobank Serves Customers Notice of Planned Service Disruption
Ecobank Nigeria has alerted its customers to an upcoming brief service disruption due to scheduled system maintenance on its card services.
The maintenance is set to occur from 11:00 p.m. on Thursday, November 7, 2024, until 1:00 a.m. on Friday, November 8, 2024.
In a notification to customers, the bank explained that during the maintenance window, cardholders might experience intermittent issues when using Ecobank cards on other banks’ channels.
However, the bank said all its specific channels, including ATMs and POS terminals, will remain operational.
Additionally, other digital platforms—such as the Ecobank Mobile App, USSD *326#, Ecobank Online, Omni Lite, and Omni Plus—will be fully accessible throughout the maintenance period.
The bank expressed apologies for any inconvenience, reaffirming its commitment to providing seamless banking experiences across Africa.
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