Mr. Obeahon Ohiwerei, Group Managing Director/CEO of Keystone Bank Limited, described as one of the fastest growing financial institutions in Nigeria, has opened up on the achievements of the bank in the last few months since assuming office.
In an interview with International Banker Magazine, Ohiwerei revealed that in less than one year of AMCON’s divestment from Keystone Bank, the lender has experienced tremendous transformation in all ramifications.
He disclosed that aside revamping all its branches across the country and bolstering its workforce, it has invested substantially in technxsxxology and developed fully integrated service models that enable custoxx wide range of channels.
Speaking on the bank’s new vision “to be the preferred platform for delivering convenient and reliable financial solutions”, he said: “we shall consistently leverage people and technology to deliver superior customer experience and enhanced stakeholder value.
“In my view, the word “preferred” takes us above the fray; it elevates the discussion beyond traditional metrics of balance sheet size, asset base and the like, which are still important to us.
“However, it commits us to delivering such excellent service in all we do that customers repeatedly trust us, desire to do business with us and are always willing to give us the benefit of the doubt.”
On the bank’s Pink Account – a special account for women that gives access to an online digital-marketing network – he said the Pink Account is designed to meet the needs of female working class and SME customers and provides such benefits as access to attractive loans, customized electronic debit cards and access to discounts from partner stores in line with the financial inclusion strategy of the Central Bank of Nigeria (CBN).
“Globally, SMEs are established drivers of even the strongest economies and Nigeria cannot be an exception. With over 15million SMEs dotting the Nigerian landscape, we are poised to ensure our customers in this segment actively grow their businesses through our partnerships and focused initiatives in the segment,” he continued.
“We shall continue to partner with the government and other developmental agencies in making intervention funds available to the segment.
“Our SME proposition is the Growbiz Account with three variants that address their cycles of growth from infancy through maturity and stability..
“We are also empowering SMEs through our Agency Banking initiative by signing them up as agents for basic off-site cash-in/cash-out services.
“Ours is a paradigm shift from simply a transactional mind-set to one that is focused on achieving enduring relationships with our customers at the attendant financial benefits.”
On measures taken to improve access to finance, he revealed that the Bank is focused on driving an all-inclusive retail growth structure from the underbanked through High Net Worth Individuals.
“We are currently deploying a range of solutions to serve the unbanked population which include:
- Deployment of ATMs to locations with little or no access to financial services
- Deployment of our Agency Banking solution under our direct plan called KeyServ Agency Banking and in partnership with the CBN and other federal government agencies
- Co-locating with NIPOST (the Nigerian Postal Service) to reach both rural and semi-urban dwellers at minimal cost
- Partnering with other strategic organisations to ensure our agent network is spread across Nigeria in the next 12 months, leveraging digital platforms for account opening and other financial services.
- Our USSD Banking service *7111# re-launched recently, allowing customers to perform basic money transfers and airtime purchase among other things.”
On utilizing blockchain technology, he disclosed that the CBN “has advised financial institutions in the country to stay action on the use of this technology for now and this prudential safeguard is not unconnected with the risks currently associated with it. We shall follow the lead of the CBN regarding integration into our operations.
“The proliferation of digital banking in the retail space has made branchless banking a strategic and compelling proposition especially in the retail value-chain.
“Keystone Mobile Banking App has introduced a new level of Banking with exciting offerings and features most of which were hitherto non-existent across the entire banking industry. These include:
- Zero-Data Banking – which allows customers to transact using our mobile app even without data on their phones.
- Chat Banking service – which allows customers to transact while they chat via Telegram and Facebook.
- The “Meet Account Officer” feature – which introduces customers to their assigned account officers and allows them to interact directly on the platform.
- Foreign Currency (FCY) Transfers – where customers are able to make transfers to banks across the globe right from the mobile app.
- Movie Tickets – which allows customers view available movies and book tickets.
- Standing Instructions – which allows scheduling of recurrent payments and transfers.
- Self-booking and liquidation of Fixed Deposits.
- The Enabling and Disabling of cards – which can be a useful safeguard in the event that a customer loses any of our electronic cards.”
When asked how he would love to be remembered at the end of his tenure, he said: “I would love to leave with a sense of satisfaction that I delivered on the mandate of our investors by making Keystone a Tier-1 bank.
“I also want to leave behind a tested and proven team of passionate and highly motivated people that refuse to see any barriers to what they can achieve; people that are able to compete shoulder-to-shoulder with any leading bank in the industry.”
THEWILL recalls that the bank for the quarter ended March 2018 recorded a profit before tax of N3.72bn, compared with a loss of N2.79bn over the same period in 2017.
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