The Banker Magazine crowned UBA the “African Bank of the Year 2017”. This is thanks in part to UBA’s impressive strides in the digital space.
Discussing how digitisation helped the bank to scoop the award, the Banker Magazine, a publication of the Financial Times Newspaper, stated that the bank, in terms of internet banking, processed 7 million transactions valued at more than N600bn in 2016. Mobile banking processed transactions valued at N70bn over the same period.
The Group Managing Director/Chief Executive Officer, UBA Plc, Mr. Kennedy Uzoka, who was delighted by the recognition from The Bankers said; “These awards mark another milestone for UBA Group and is a testament of the diligent execution of the bank’s strategic initiatives on customer service. Being recognized as Africa’s best bank complements positive feedback from customers and is a recognition of our improving efficiencies, service quality and innovation,”
UBA’s digital innovations
UBA also launched eMailMoni, a service that lets customers transfer funds via e-mail, while Chat Banking allows clients to perform basic transactions through social media platforms. The bank’s digital tax collection solutions are also helping regional governments in Senegal and Burkina Faso.
Uzoka added; “The bank remains focused on its goal of democratizing banking in Africa, leveraging on new technologies and our rich pool of talent. It is satisfying that our efforts towards leadership are yielding great results. We continue to gain market share across our chosen markets, as we deepen financial inclusion, meeting basic and complex financial service needs of the growing African population. We are Africans and determined to change the narrative of financial services in Africa and this is just the beginning,” he noted.
“For these reasons, and others, UBA is the winner of our 2017 African Bank of the Year award,” the Banker Magazine stated.
According to the magazine, the aim of the award “is to highlight industry wide excellence within the global banking community. The winner is selected from participating banks in each of the 120 countries from which entries are received for the competition.”
Apart from digitisation UBA won because…
Apart from scooping the main award, four of UBA Group’s operations in Africa also led contenders in their respective countries to emerge the Best Bank of the Year 2017 in their respective markets.
UBA Congo, UBA Tchad, UBA Gabon and UBA Senegal emerged the Best Bank of the Year in Congo, Tchad, Gabon and Senegal. Notably, UBA Gabon and UBA Senegal won the same awards in 2016, as both subsidiaries of UBA Group remain the Banks to beat in Gabon and Senegal.
On his part, Mr. Emeke Iweriebor, Regional CEO, UBA Francophone Africa, said “Our pioneering innovations in the African banking sector are undoubtedly critical to the growth and development of the continent. Africa’s banking sector has come a long way but we still have a lot to do. We at UBA Group are dedicated to being a critical part of this transformation.”