Diamond Bank has recorded a total of four million users on its mobile banking application and its Diamond Y’ellow account,with two million subscribers on each of the digital banking platforms.
Since its launch in 2014, the Diamond Y’ellow product, a partnership between Diamond bank and MTN, the largest telecommunications service provider, to introduce an account combining both financial and telecom services to the youth and mass market through their mobile phones has continued to grow in popularity because of its speed and convenience for transaction.
The flagship Diamond mobile application has also seen significant interest among the Nigerian population and downloads of the app have continued to increase even after the bank recorded its one millionth app download in January 2016 and a year after, the number of mobile app downloads is currently at two million.
In a statement issued to the press by Diamond Bank,Robert Giles Head, Retail Banking Businesses, attributed the record milestones on both platforms to the Bank’s digital innovation and quest to provide customers with convenient banking services.
Giles said; “In January 2016, we recorded the one millionth Diamond Mobile app customer having launched the app a few years earlier. We are delighted that we were able to double that number in only one year. This is an affirmation of the trust our valued customers have in our products and services, and we pledge to continuously provide cutting edge services to them”.
Specifically designed for the teeming un(der)banked segment, the Diamond Y’ello account allows customers perform a wide range of banking transactions from their MTN phones without data or Wi-Fi connection. The account has helped the Bank achieve its customer-base growth target in three years, a goal that previously took the Bank ten years to achieve. This further underscores its focus on executing its digital transformation strategy by going beyond banking to meet its customers’ varying needs.
The Diamond Mobile app allows Diamond Bank customers carry out a wide range of banking transactions from their Diamond Bank accounts including bills payment, flight ticket bookings, eSUSU (joint savings club), funds transfers, amongst others.
Industry observers say Diamond Bank has challenged the market environment by introducing new products, innovative technology and setting new benchmarks through international standards.
In its statement, Diamond Bank says it is best placed to respond to changing lifestyles and is leading the digital transformation in response to these societal shifts. “Diamond Mobile app, for example, is Africa’s leading banking app and the first with the touch ID feature.
“Beyond growing the numbers of subscribers, we are focused on enhancing the customer experience on these platforms. So our valued customers should expect more exciting features as we go all out to provide them with convenient banking services”, concludes the statement.
Jumoke Akiyode
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