Ecobank adopts New Technology

imagesEcobank has launched the Ecobank Mobile App, an instant and convenient way of banking via the mobile phone. It is the first unified app delivered by any
institution for use in 33 countries. Group CEO, Ade Ayeyemi unveiled the new App at a large
product launch in Lagos, which brought together a wide range of customers, including students,
various professionals, traders and transporters. Ecobank board members, shareholders, staff and
media were also present at the event.

The Ecobank Mobile App uniquely leverages the power of digital to deliver real convenience to
customers. The App gives Ecobank the scale and capacity to achieve its target of attaining 100
million customers in a profitable and sustainable way.
The new App enables customers to open a new digital account with no more than a few clicks,
with no paper references.

Ade Ayeyemi said: “The Ecobank Mobile App opens up opportunities for customers by allowing
them to shop, transact and do business without cash. At scale, this will be transformational for
Africa. Through its purchasing power and Ecobank’s partnerships with Visa and Mastercard, the
Ecobank Mobile App will be an accepted means of payment. With its removal of barriers to entry
and affordable price points, the Ecobank Mobile App will empower the consumer to be on the
move.”

Ecobank’s Group Executive for Consumer Banking, Patrick Akinwuntan, said: “This product
launch fulfils our promise to create relevant solutions for consumers. With the Ecobank Mobile
App, Ecobank customers can now make and receive instant payments across 33 African
countries on their mobile devices. They can also pay in store with their mobile phones. This is
genuine convenience delivered to our consumers.”

At the launch, Mr. Akinwuntan demonstrated how to make a payment, how to send funds, and
how to receive money from merchants using Ecobank Masterpass QR technology. He also
showed that opening an XpressAccount was an instant and easy transaction.

Ecobank Nigeria’s Managing Director, Charles Kié, said: “Nigeria is a leading hub for
entrepreneurship and technology for Ecobank. This is why we chose Lagos as the venue to
launch the Ecobank Mobile App. This new product will allow customers in Nigeria and other
affiliates across our vast network, to grow their businesses by giving them a convenient and
secure way of banking.”

The innovative new platform reduces the need to carry cash. It gives customers the opportunity to
deposit money through a mobile transfer.

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