Diamond Bank Plc celebrated the entry of the one millionth customer into its mobile app service channel on March 3rd in Lagos. The one millionth subscriber on board the mobile app made the triumphant entry last January, doubling the customer figure on the platform in six months.
The rapid growth in the volume of banking transactions on the mobile app is an indication of a growing shift in banking behaviour, which is defining the path for the future of the industry, Mr. Uzoma Dozie, Diamond Bank’s chief executive officer said at the event on Thursday.
He said the bank is celebrating not only the one millionth customer entry into the service channel but also the success of the bank in making one million people change their behaviour in just two years.
Looking ahead, Dozie sees an unfolding banking culture where people would be moving about without wallets. His bank is therefore putting banking services in a form people can carry about everywhere in place of wallets. His target is to get the mobile app become the wallet.
Diamond Bank has already covered a lot of millage in the journey towards electronic wallet. The volume of transaction runs into millions weekly and as much as N1.5 trillion transactions happened on the mobile app in 2015.
It is a significant record for Diamond Bank that the one millionth subscriber downloaded the mobile app on a non-working day when banks are not in normal operations. To the management of the bank, this underscores the key benefit of convenience the service channel offers to customers.
Mobile app offers convenience, speed and safe means of making payments and receiving money at comparatively low cost.
The bank is intensifying effort at educating the banking public on the benefits of efficiency, cost and security perspectives of mobile app, Dozie said. He stated that mobile app recorded lower fraud cases than any other service channel of the bank.
Dozie explained that mobile app has four elements of security and the potential for loss can be limited by setting individual transaction levels on a daily or weekly basis.
On how the mobile app differs from similar products of other banks, Dozie said his bank has an edge on technology.
He said Diamond Bank invested a lot of money to install the facilities that permit faster and safer transactions on the mobile app. He assured that his bank will continue to innovate and customers can expect new dynamic features on the mobile app in the months ahead.
