Technext Technext
  • Home
  • Stories
    • Kenyan Insurtech Pula Closes $6M Series A to Boost Profits for Small-scale Farmers Across Africa
      Kenyan Insurtech Pula Closes $6M Series A to Boost Profits for Small-scale Farmers Across Africa
      3 hours ago 0
      57
    • Tech Events this Week: StartupBlink Ecosystem Summit, 2021 Commodities Outlook and Others
      Tech Events this Week: StartupBlink Ecosystem Summit, 2021 Commodities Outlook and Others
      7 hours ago 0
      46
    • App Review: Sety Let’s You Know if there’s Danger Around and When the Coast is Clear
      App Review: Sety Let’s You Know if there’s Danger Around and When the Coast is Clear
      1 day ago 0
      46
    • Social Media Roundup: #InaugurationDay, NIMC and Other Stories that Trended
      Social Media Roundup: #InaugurationDay, NIMC and Other Stories that Trended
      2 days ago 0
      94
    • Global Tech Roundup: President Biden Reverses Nigeria’s Travel Ban
      Global Tech Roundup: President Biden Reverses Nigeria’s Travel Ban
      3 days ago 0
      114
    • Nigerians React as NRC Launches N900 million Railway e-Ticketing Platform
      Nigerians React as NRC Launches N900 million Railway e-Ticketing Platform
      3 days ago 0
      186
    • Alphabet Shuts down Balloon-powered Internet in Kenya Months after its Launching
      Alphabet Shuts down Balloon-powered Internet in Kenya Months after its Launching
      3 days ago 0
      133
    • Google Search And Facebook News Could Leave Australia if Forced to Pay News Publishers
      Google Search And Facebook News Could Leave Australia if Forced to Pay News Publishers
      3 days ago 0
      106
    • Movie Review: ‘Outside the Wire’ is an Explosive Action Thriller Showing the Dangers of Sentient AI
      Movie Review: ‘Outside the Wire’ is an Explosive Action Thriller Showing the Dangers of Sentient AI
      4 days ago 0
      140
  • Features
    • Sell it or Repurpose it, Here are 5 Things You Could do With your Old Gadgets and Devices
      Sell it or Repurpose it, Here are 5 Things You Could do With your Old Gadgets and Devices
      4 days ago 0
      128
    • 5 Tips to Make Your Business More Popular on Social Media
      5 Tips to Make Your Business More Popular on Social Media
      2 weeks ago 0
      236
    • Analysts Forecast Bitcoin to Hit $100k in 2021, But is This Really a Good Time to Start Buying?
      Analysts Forecast Bitcoin to Hit $100k in 2021, But is This Really a Good Time to Start Buying?
      2 weeks ago 0
      401
    • Top 5 Most In-Demand Tech Jobs for 2021 — and Skills Required for them
      Top 5 Most In-Demand Tech Jobs for 2021 — and Skills Required for them
      2 weeks ago 0
      458
    • Financial Strategies for Surviving 2021 with Ayo Akinmade, Vice Chairman, Regus
      Financial Strategies for Surviving 2021 with Ayo Akinmade, Vice Chairman, Regus
      3 weeks ago 0
      423
    • ‘Expect Aggressive Expansion in 2021’- PlentyWaka’s Johnny Enagwolor on Surviving 2020 and What the Future Holds
      ‘Expect Aggressive Expansion in 2021’- PlentyWaka’s Johnny Enagwolor on Surviving 2020 and What the Future Holds
      4 weeks ago 0
      471
    • After a Poor 2020, Here are the Top Cinema Trends to Watch Out for in 2021
      After a Poor 2020, Here are the Top Cinema Trends to Watch Out for in 2021
      4 weeks ago 0
      419
  • Reviews
    • Tech Events this Week: StartupBlink Ecosystem Summit, 2021 Commodities Outlook and Others
      Tech Events this Week: StartupBlink Ecosystem Summit, 2021 Commodities Outlook and Others
      7 hours ago 0
      46
    • Global Tech Roundup: President Biden Reverses Nigeria’s Travel Ban
      Global Tech Roundup: President Biden Reverses Nigeria’s Travel Ban
      3 days ago 0
      114
    • Movie Review: ‘Outside the Wire’ is an Explosive Action Thriller Showing the Dangers of Sentient AI
      Movie Review: ‘Outside the Wire’ is an Explosive Action Thriller Showing the Dangers of Sentient AI
      4 days ago 0
      140
    • You Can’t Get Your NIN Slip Through the NIMC App but Here are 3 Things You Can Do With it
      You Can’t Get Your NIN Slip Through the NIMC App but Here are 3 Things You Can Do With it
      5 days ago 0
      200
    • Netflix Surpasses 200 Million Subscribers, Says It no Longer Needs External Financing
      Netflix Surpasses 200 Million Subscribers, Says It no Longer Needs External Financing
      5 days ago 0
      134
    • With Growing Interest in Forex Trading, Here are 5 Best Forex Brokers in Nairaland, Nigeria
      With Growing Interest in Forex Trading, Here are 5 Best Forex Brokers in Nairaland, Nigeria
      6 days ago 0
      155
    • Kenya Overtakes Nigeria as Africa’s Favorite Investment Destination
      Kenya Overtakes Nigeria as Africa’s Favorite Investment Destination
      6 days ago 0
      284
  • Women in Tech
  • Videos
  • Contact Us
Go to...

    Review: These 5 Nigerian Banks Leverage Technology the Most in 2018

    Idris AbubakarIdris Abubakar
    December 24, 2018
    Review: These 5 Nigerian Banks Leverage Technology the Most in 2018

    Nigerian banks rely on technology, a lot! But they’re also quite slow to latch on to tech trends emerging at various points. And this is more evident with the recent growth of fintech startups disrupting the entire banking industry.

    Many Nigerian banks have been slow to adopt their technology or develop rival innovations. Banks’ tech adoption has been slow largely due to cost of tweaking legacy solutions and systems. Yet today, there’s a popular belief that rising fintech innovation would eventually make many Nigerian banks obsolete. This worry is real, even for industry regulator, CBN. And banks have been forced to act.

    Over the last 12 months, a number of Nigerian banks have impressively upped their technologies. They have adopted new technology to improve customer relations and provide more diverse banking services.

    Here are five of the most technologically advanced Nigerian banks of 2018.

    First Bank

    First Bank is Nigeria’s largest bank by total number of customers (the merger between Diamond bank and Access bank still won’t change this yet). It is also one of Nigeria oldest banks and this makes it least likely to adopt new technology quickly. However in 2018, First Bank didn’t relent.

    Imagine a world where you can engage with your bank via Whatsapp…Don’t imagine, it’s here!
    Receiving real-time responses on all your questions is now a reality with FirstBank ‘Chat Banking’ suite. #WhatsappBanking#Bankinggetscloser #Jointhetrain #Innovation #YouFirst pic.twitter.com/dw6xkTaaR6

    — FirstBank Nigeria (@FirstBankngr) August 2, 2018

    In August, following important updates to the Whatsapp Business platform, First Bank took notice and latched onto the platform. It launched “Chat Business” to provide a personalized messaging platform for business. Via the platform, customers can make inquiries and pay bills, among other things.

    Fidelity Bank

    Fidelity bank is a very low-key bank both in terms of revenue and customer reach. This year however, they came out blazing, somewhat. Fidelity bank launched FlashKey, an android keyboard app that makes it easy for users to make payments even when they’re chatting.

    How to do your transaction 😀👇🏾👇🏾
     1. Tap on the @fidelitybankplc icon on your keyboard
    2. Select "Send Cash" option#FidelityFlashKey https://t.co/UBImu78TQV pic.twitter.com/v0RnNmJNbI

    — The Firm (@D_Cognoscenti) July 20, 2018

    The innovation is quite cool from a tech point of view. Plus it shows that Nigerian banks are actually looking to create some disruptive technologies by themselves.

    Fidelity Bank’s Flashkey Keyboard Will Make Fund Transfer Extremely Fast, But Nobody Will Use it

    Diamond Bank (Now Merging With Access Bank)

    Diamond Bank may have agreed to be absorbed into Access Bank, but that doesn’t detract the fact that they have been one of the most tech-savvy banks of 2018.

    Diamond Bank launches ADA an Artificial Intelligent Chatbot for millions of Nigerian customers. Click the link to read more https://t.co/AtiZqfqcLR #askada pic.twitter.com/czklXF7qhX

    — Diamond Bank (@DiamondBankNG) March 12, 2018

    In March 2018, Diamond Bank unveiled its own chatbot: Ada Zainab Ajayi (AKA Ada). Ada is an AI powered chatbot created to provide banking and financial service assistance via Facebook. Ada allows users carry out transactions such as airtime purchase, bill payments and even stock trading via the social network.

    Not bad.

    Wema Bank

    Wema Bank is one bank that has completely rebranded all round. The launch of ALAT banking app last year helped to greatly improve its rep among Nigerian banks. ALAT is a completely digital bank with no physical presence. But it offers higher interest rates on deposits than regular banks, mostly thanks to reduced operational costs.

    5 Reasons why Wema Bank’s ALAT is the Best Digital Bank for 2017

    Since the start of the year, ALAT has played a key role in Wema Bank’s operations. And by July 2018, the bank announced that ALAT helped increase its deposits by 39% in the first 6 months of 2018.

    UBA

    UBA is by far the most technologically sophisticated bank of 2018. Since the start of the year, the bank has taken advantage of a few tech trends to bolster its brand.

    #MeetLeo: What You Need to Know About the New UBA Chatbot Leo

    In January, the bank became the first Nigerian bank to develop its own chatbot system. Called Leo, the chatbot is powered by artificial intelligence and was developed in partnership with Facebook Messenger. Leo can open a new bank account, check an account balance, buy airtime, and carry out a funds transfer for customers.

    “The more you interact with Leo, the more he gets to know you. Consider Leo your new personal assistant” @KennedyUzoka #MeetLeo #WhoIsLeo

    — UBA Group (@UBAGroup) January 11, 2018

    But Leo doesn’t work on Facebook alone. In July, the bank took advantage of new updates on Whatsapp Business, now the chatbot is available for Whatsapp user.


    If you’d like to get featured on our Entrepreneur Spotlight, click here to share your startup story with us.


    SUBSCRIBE

    Get latest Technology news, reviews, business-related content with a deliberate emphasis on the African narrative and insightful analysis in Nigeria – straight to your inbox.


    Comments

    Share :
    • Facebook
    • Twitter
    • Google+
    • Pinterest
    • Linkedin
    • Email
    Idris Abubakar

    Idris Abubakar

    Abubakar Idris has interests in all things web, business and tech innovations. I write to inform.

    Nigerian Startups Raised a Lot of Money this Year but these 5 Companies Raked the Biggest Investments
    Next article
    Nigerian Startups Raised a Lot of Money this Year but these 5 Companies Raked the Biggest Investments
    CcHub To Launch its First Design Lab in Kigali, Rwanda
    Previous article
    CcHub To Launch its First Design Lab in Kigali, Rwanda

    Related Posts

    • Stories 3 hours ago

      Kenyan Insurtech Pula Closes $6M Series A to Boost Profits for Small-scale Farmers Across Africa

      Kenyan Insurtech Pula Closes $6M Series A to Boost Profits for Small-scale Farmers Across Africa
      Reviews, Stories 7 hours ago

      Tech Events this Week: StartupBlink Ecosystem Summit, 2021 Commodities Outlook and Others

      Tech Events this Week: StartupBlink Ecosystem Summit, 2021 Commodities Outlook and Others
      Stories 1 day ago

      App Review: Sety Let's You Know if there's Danger Around and When the Coast is Clear

      App Review: Sety Let’s You Know if there’s Danger Around and When the Coast is Clear
    • Stories 2 days ago

      Social Media Roundup: #InaugurationDay, NIMC and Other Stories that Trended

      Social Media Roundup: #InaugurationDay, NIMC and Other Stories that Trended
      Reviews, Stories 3 days ago

      Global Tech Roundup: President Biden Reverses Nigeria's Travel Ban

      Global Tech Roundup: President Biden Reverses Nigeria’s Travel Ban
      Stories 3 days ago

      Nigerians React as NRC Launches N900 million Railway e-Ticketing Platform

      Nigerians React as NRC Launches N900 million Railway e-Ticketing Platform

    Bitcoin Recent Prices

    Brandest

    Sign up for Newsletters

    Popular News

    • 25 African startups Participate in Alibaba eFounders Entrepreneurship Programme
      25 African startups Participate in Alibaba eFounders Entrepreneurship Programme
      November 21, 2017 0
    • Agric Investment Platform, Green Partners Responds to Accusations of Fraud and Failure to Pay Investor Dividends
      Agric Investment Platform, Green Partners Responds to Accusations of Fraud and Failure to Pay Investor Dividends
      8 months ago 0
    • Velocity Capital Launches $120m Venture Fund that Could Target African Fintech Startups
      Velocity Capital Launches $120m Venture Fund that Could Target African Fintech Startups
      June 10, 2019 0
    • OPPO Unveils 125W Flash Charge, 65W Airvooc Wireless Flash Charge And 50W Mini Supervooc Charger
      OPPO Unveils 125W Flash Charge, 65W Airvooc Wireless Flash Charge And 50W Mini Supervooc Charger
      6 months ago 0
    • Google Third-Party Cookies Phase-Out: 10 Key Takeaways From Terragon Webinar 6.0
      Google Third-Party Cookies Phase-Out: 10 Key Takeaways From Terragon Webinar 6.0
      5 months ago 0

    Follow Us

    Latest Tweets

    • technextdotng RT @aforisms_: Kenyan Insurtech Pula Closes $6M Series A to Boost Profits for Small-scale Farmers Across Africa - https://t.co/7lVP7nECvp v…
      about an hour ago
    • technextdotng RT @Gbemileke_B: Kenyan insurtech startup @AdvisorsPula has raised $6M in Series A funding to scale up its tech-driven insurance products f…
      about an hour ago
    • technextdotng Kenyan #insurtech startup, @AdvisorsPula has raised $6 million in a Series A funding round to increase profitabilit… https://t.co/gO877ECh1R
      about an hour ago
    • technextdotng New post: Kenyan Insurtech Pula Closes $6M Series A to Boost Profits for Small-scale Farmers Across Africa https://t.co/5JQufzhXbe
      about 3 hours ago

    Instagram

    technextdotng

    Technext.ng is the go-to site for news, reviews and insightful analysis in the Nigerian tech space.
    http://ow.ly/ayTM30mSlGS

    With the realization of one’s own potential and With the realization of one’s own potential and self-confidence in one’s ability, one can build a better world.
#TechNext #MondayMotivation
    72.8% of our voters opt to give out their old devi 72.8% of our voters opt to give out their old devices or go with the flow of things.

What do you do?
#Smartphone #gadget #Polls
    Top App Downloads in Africa (2020) 1. Egypt - 2.3 Top App Downloads in Africa (2020)
1. Egypt - 2.3 billion
2. S/Africa - 680 million
3. Nigeria - 640 million

Read more at technext.ng
#Payments #Africa #Fintech #Finance #Innovation #Technology #Nigeria #SouthAfrica #Egypt #Consumer #Kenya #Report #Gaming #Gamers
    Highest In-app Spending in Africa (2020) 1. S/Afri Highest In-app Spending in Africa (2020)
1. S/Africa - $210 million
2. Egypt - $120 million
3. Nigeria - $60 million

Read more at technext.ng
#Payments #Africa #Fintech #Finance #Innovation #Technology #Nigeria #SouthAfrica #Egypt #Consumer #Kenya #MobileApp #App
    According to our latest poll results, the ride hai According to our latest poll results, the ride hailing battle in Nigeria is still between Uber and Bolt, with both clinching 77.8% of the votes.

#RideHailing #Nigeria #Polls
    Happy birthday to the in-house "techie", @Tommy_bl Happy birthday to the in-house "techie", @Tommy_blanc.
Best wishes from all of us at Technext. @te

#WeAreTechnext #HappyBirthday
    Load More... Follow on Instagram

    Random News

    • GTBank’s BetaHealth is an Affordable Health Insurance for Low Income Earners, Here is How to Get it
      GTBank's BetaHealth is an Affordable Health Insurance for Low Income Earners, Here is How to Get it
      10 months ago 0

      Guaranty Trust Bank Plc, a Nigerian financial institution has launched BetaHealth, a health insurance initiative for low-income earners. ...

      Read More
    Copyright 2020 technext.ng | Privacy Policy | Media Policy