…as Mobile Money Africa holds expo in Lagos
FINCA Microfinance Bank Nigeria, a subsidiary of FINCA Microfinance Holding Company LLC (FMH), and part of a network of 21 microfinance institutions and banks operating in about 30 countries around the world, that provide socially responsible financial services that enable low-income individuals and communities to invest in the future, has received an award as the “Best Agency Banking Provider 2017.
The award is for individuals and businesses operating in Eastern Nigeria. It was presented to the FINCA Mfb during the cashless Africa awards & expo, organized by Mobile Money Africa in Lagos, Nigeria.
FINCA, in early 2016, became the first microfinance bank to launch Agency Banking in the South East geopolitical zone, which has been spreading since then.
The Principal Associate of MobileMoneyAfrica, Emmanuel Okoegwale, who congratulated all the award winners, hoped that the honor would inspire better innovation in 2017 and beyond.
The CashlessAfrica awards honor organizations that have made significant contributions to the digital financial services sector, and are poised to make considerable market impact in the future.
The awards are dedicated to acknowledging creativity, commitment and excellence in the digital financial services across Africa.
Reacting to the award, the Chief Executive Officer of FINCA Mfb Nigeria, Takyi, who was represented by the Product/ Channel Development & Research Manager, Azeez Ibraheem, expressed profound gratitude to the organizers of the awards; noting that FINCA was a microfinance bank that has come with a depth of knowledge in microfinancing to change the face of banking with its unconventional approach.
He said FINCA focuses on those at the bottom of the pyramid, those under-banked and unbanked; adding that providing reliable and secured access to financial services is the driving forces behind its launching of Agency Banking for its clients. He informed that in future, microfinance bank would extend the platform to non-FINCA clients.
Currently, FINCA clients enjoy unlimited access to services through its Agency Banking network, known as FINCA eXpress; which provides unlimited, secured, reliable and convenient access to financial services that enable the clients to withdraw and make deposits into their accounts; repay their loans; check and print off their bank balances; print their bank statements; transfer funds from their FINCA account to other FINCA accounts and third party deposit without paying for these services or leaving their businesses.
FINCA Microfinance Bank began operations in Nigeria in December 2014. The bank provides a full range of financial services to more than 20,000 active clients through its branches and FINCA eXpress agents in Owerri, Imo State. Clients have accessed over N3 billion in loans and deposited over N400 million in voluntary savings.
Takyi further said that FINCA would continue to offer to the Nigerian market, simple, but innovative financial solutions – savings, term deposits, loan products and DFS – to help its clients effectively manage their money, develop savings culture to save for the future and grow their businesses. He added that the microfinance bank’s value proposition is delivered in the most customer centric manner, in line with its mission.