By Samuel Adegoke
Customers using the United Bank for Africa (UBA) mobile app can now pay staff salaries or make cash transfer to groups, make live chat with the customer centre and order food for delivery, among others.
The new features are part of the innovation to enable customers carry out many more financial transactions conveniently through digital banking services.
The bank’s Head, Digital Banking, Mr Samson Aneke, unveiled the new features during its maiden digital media parley this week.
Aneke explained that though the refreshed UBA app now has some first-of-its-kind features, principal among them is the group transfer feature which allows users to transact funds to a group of people at the same time. The recipients may be UBA or other banks customers.
The feature, therefore, enables employers to create a group for their members of staff and pay their salaries and allowances through the digital channel. The feature allows users to transfer to up to 100 recipients at once.
Aside the freedom to live chat customer centre whenever necessary, the new UBA app allows users to order food and purchase movie tickets, among others. Christened Lifestyle Services, the menu allows users to subscribe to Premium Lifestyle that allows them to access bouquet of lifestyle packages that give room for easy payment for several services.
On fears that Fintech companies may eventually send commercial banks out of business, Aneke stressed that banks are not competing with Fintechs. He explained that while they operate as digital companies offering various services including payment solutions and basic banking services, commercial banks are operating with banking license which allows them to offer multiple financial services.
Besides, the banker emphasized that commercial banks are also using technology to drive banking services which makes them Fintechs in their own right.
He said: “Fintechs can not send banks out of business because they are not coming from financial services background. Banks are actually Fintechs given the way they employ technology to improve services. As Fintechs are thinking, banks are also thinking. We have digital operations with banking license.
“We are, however, not competing but partnering with them across Africa. There is enough space for every player to operate.”
Aneke also emphasized the strength of security of the app and online banking channels, stressing that security of the channels has layers and sealed with latest technology. He, however, pointed out that the security features do not make usage of the channels burdensome for customers.
The Head, Retail Banking Products, Mr Jude Anele, disclosed that the bank developed several products for children, teenagers and youths with the aim of deepening financial inclusion in Africa.
He added that the bank opened an opportunity for Nigerians in the Diaspora to enjoy easy banking services with its UBA Diaspora account.