Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has launched the Stanbic IBTC @ease wallet, in line with its commitment to deepen financial inclusion and drive its digitization agenda.
The recently launched Stanbic IBTC @ease wallet is an electronic wallet designed to meet lifestyle needs of Nigerians, especially the unbanked and underbanked, using a unique combination of technology and agent network.
Speaking during the launch of the new platform in Lagos recently, Wole Adeniyi, executive director, personal and business banking at Stanbic IBTC Bank, said that the product is set to provide a unique range of financial services to the informally served, the under banked and the unbanked on various structured platforms with the last 10 digits of a phone number.
According to him:”Stanbic IBTC @ease wallet affords customers the opportunity to access banking services such as interbank transfers, debit card issuance and cardless withdrawals from Automated Teller Machines (ATMs) or agent networks, amongst others.
Leveraging the over 170 million active mobile network lines in Nigeria, the wallet uses the customer’s mobile number (without the first 0) as the wallet number, and is protected by a four-digit secret PIN which is needed to log-in and authenticate all transactions, and the customer’s profile is bound to the mobile device used during sign-up.
This, the bank says, reinforces its drive to support the federal government to deepen financial inclusion and thereby drive economic growth.
Adeniyi said that customers can open a Stanbic IBTC @ease wallet through Unstructured Supplementary Service Data (USSD) application *909#; Stanbic IBTC @ease app and agent locations nationwide.
“The Stanbic IBTC @ease wallet is a financial freedom vehicle for all Nigerians to access seamless financial services. This service is available to every Nigerian that can legally own a bank account. Following the product launch, there will be a series of market and campus activations starting from – The Lagos International Trade Fair, where we will introduce an array of products to visitors and exhibitors at the fair,” Adeniyi said.
“We recognize the daily complexities of living in a fast-paced digital society. Stanbic IBTC @ease wallet covers a unique range of mobile financial transactions, it is intuitive and designed around the needs of the average Nigerian,” he said.
Jumoke Akiyode-Lawanson
