KEY POINTS
- FirstBank has commissioned a digital experience centre at Yakubu Gowon University, Abuja, targeting at least 40,000 customers within the university community.
- The centre offers services such as cash withdrawals, card replacement, account enquiries and funds transfers, around the clock.
- The bank is using biometric security, including facial and fingerprint recognition, to protect customer transactions.
- FirstBank plans to replicate the model across more university campuses as it seeks to attract younger customers to digital banking.
MAIN STORY
FirstBank Plc has commissioned a one-stop digital experience centre at Yakubu Gowon University, Abuja, as it seeks to bring more banking services onto digital platforms and expand its customer base within the university community.
The centre, located in Gwagwalada, Federal Capital Territory, is expected to serve at least 40,000 customers, including students and staff. Speaking at the commissioning on Tuesday, the bank’s Chief Executive Officer, Olusegun Alebiosu, said the facility would allow users to carry out banking transactions at any time without having to visit a conventional banking hall.
The centre is designed to provide several services traditionally handled in bank branches. These include cash withdrawals, Automated Teller Machine (ATM) card replacement, account balance enquiries, bank statement requests, email updates, phone number changes and funds transfers.
By bringing these services into the university environment, FirstBank is seeking to make routine banking transactions more accessible to students and staff while encouraging greater use of its digital channels.
THE ISSUES
A key part of the initiative is the bank’s effort to attract younger customers, particularly members of Generation Z, who are accustomed to using mobile devices for everyday activities.
Alebiosu said the bank expected the role of physical branches in banking to change over time, making it important to build relationships with younger customers through digital services.
The facility also incorporates security measures intended to protect customers as they carry out transactions. These include facial and fingerprint recognition, with fingerprint verification required for sensitive account changes such as password resets, phone number updates and email address changes.
This security layer is important because expanding access to digital banking also requires measures that protect customers’ personal information and prevent unauthorised changes to their accounts.
WHAT’S BEING SAID
“What we have here represents everything you want to do in the banking hall.”
- Olusegun Alebiosu, Chief Executive Officer, FirstBank Plc.
“I want to get the Generation Zs, the young ones, on the platform because, in 20 years’ time, to be honest, there won’t be so many branches.”
- Olusegun Alebiosu, Chief Executive Officer, FirstBank Plc.
“So, this sort of facility that has been brought to our doorstep, I think it will add a lot of value to the lives of students on campus.”
- Prof. Hakeem Fawehinmi, Vice-Chancellor, Yakubu Gowon University.
WHAT’S NEXT
Alebiosu said FirstBank had introduced similar digital experience facilities in several of its branches and planned to extend the initiative to more university campuses.
At Yakubu Gowon University, Vice-Chancellor Prof. Hakeem Fawehinmi said the facility would give students and staff access to international-standard banking services within the campus. He also said the university and the bank had established arrangements for round-the-clock surveillance and security at the centre.
BOTTOM LINE
FirstBank’s new centre is an attempt to bring more banking services closer to students and university staff while encouraging a shift towards digital transactions. Its impact will depend on how effectively it serves the university community, protects customers and sustains reliable access to banking services around the clock.
