• Saturday, April 13, 2024
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Financial inclusion gets a boost as Empire Trust launches agency banking solution

Unveiling the path to economic empowerment: Financial inclusion in Sub-Saharan Africa

As the drive for financial inclusion continues to gain traction, a micro-finance banking (MFB) operator known as Empire Trust Micro Finance Bank has entered the financial market with agent banking solution aimed to enhance access to digital banking, with special focus on the unbanked population.

The new solution called Empire-pay marks a significant leap in the bank’s mission to provide modern banking solutions driven by technology and customer service excellence. It is intended to effectively bridge the financial inclusion gap in Nigeria.

Read also: Unveiling the path to economic empowerment: Financial inclusion in Sub-Saharan Africa

Expectation is that, with Empire-pay, customers gain access effortlessly to a comprehensive suite of banking services without the constraints of physical branch visits, substantially enhancing convenience and accessibility.

Ayobami Alabi, the bank’s MD/CEO, said he was happy with the inclusion of agency banking in the bank’s offerings, highlighting Empire-pay’s role as a people-focused financial innovation.

“Empire-pay represents a paradigm shift in electronic transactions, empowering our vast customer base and prospective clients to seamlessly engage in multiple transactions across diverse Nigerian communities, leveraging our extensive network locations,” he said.

Alabi highlighted the pivotal role of digital channels in modern banking, assuring that the bank is committed to addressing the unbanked individuals in Nigeria estimated at 64 million, according to a World Bank report. He added that the bank is committed to catering to the evolving needs of its diverse customer-base.

Empire-pay boasts a multitude of user-benefits, including instant settlement for swift and efficient transactions, 24/7 network reliability ensuring uninterrupted access to banking services, and affordability, and enabling seamless participation of middle players in the digital banking ecosystem.

According to the CEO, the bank envisions leveraging Empire-pay to extend its outreach to previously underserved communities, empowering individuals with access to essential financial services.

He stressed the bank’s commitment to innovation and financial inclusion, adding, “Empire-pay epitomizes our unwavering dedication to leveraging technology and strategic partnerships to enhance accessibility and convenience in banking services, particularly for the unbanked and under banked segments.”

“With a proven track record of effective operation over the past nine years and as a sister company of Citygate Global Finance, Empire Trust MFB remains steadfast in engaging individuals, merchants, and agents that embrace Empire-pay, further propelling financial inclusion across Nigeria,” Alabi assured.