How lengthy do you reckon it might take diligent explorers searching for the corporate that finest fashions the triple values of innovation, monetary inclusion and company social accountability (CSR) in Nigeria’s monetary panorama to seek out that company establishment? Assume that the explorers will conduct their onerous search starting from the youngest firm to the longest-surviving firm. That’s, from essentially the most just lately established to essentially the most distant when it comes to time (the previous).
It’s only logical to start the search from essentially the most just lately based and youngest corporations given their strident claims to being modern corporations, even when innovation is not more than a advertising and marketing buzzword they’ve latched onto for self-promotion. Their normal reasoning is that they’re modern corporations as a result of they had been based in an age of innovation. Fairly an fascinating logic.
Nevertheless, the argument is akin to saying that each one company establishments that share Marina Highway in Lagos with the pinnacle workplace of First Financial institution of Nigeria Restricted have been round for so long as and are as vastly skilled as FirstBank. Nothing could possibly be as approach off the mark as this argument, which additionally highlights the vacuity in any such innovation argument by youthful corporations.
As a result of, if innovation had been an individual, it might be discovered not with youthful corporations who make use of it merely as a advertising and marketing catchword, however firmly rooted within the core of longstanding corporations which have continued to evolve with the instances and adapt to stay related by means of all ages and within the face of quickly altering applied sciences. That such corporations have continued to thrive even with the relentless competitors from innovation-claiming youthful gamers of their business, is ample proof that they’ve innovation of their DNA, and never simply as a advertising and marketing buzzword.
Or how else does one clarify FirstBank’s indeniable position as pioneer of cutting-edge applied sciences and companies in Nigeria’s monetary companies business? Whether or not it’s the introduction of the automated teller machine (ATM) and the financial institution’s steady management in that house with the most important ATM community throughout Nigeria or the unrivalled drive for monetary inclusion by means of Firstmonie, FirstBank continues to set the tempo and level the business within the route of the subsequent service to onboard to additional enrich the expertise of banking clients in Nigeria.
And people who encourage progress and development within the business by yearly recognising and awarding excellence the place they see it within the business, have been cataloguing FirstBank’s many efforts to be used of their award citations. It’s to their credit score that the banking public, and never simply diligent explorers, now know innovation to be FirstBank’s center identify.
In 2021 alone, numerous awards organisations inside Nigeria and globally recognised FirstBank’s drive for innovation in a number of areas. On account of house constraint, solely six of such innovation-linked awards can be highlighted on this piece. First up is “Most Progressive Banking Product 2021” award introduced to FirstBank by the Worldwide Finance Awards. The award was for the financial institution’s “introduction of the fast-track contactless ATMs throughout the COVID-19 lockdown”.
The introduction of the fast-track contactless ATMs was one in every of FirstBank’s many considerate and modern methods of decreasing the chance of ATMs turning into COVID-19 spreaders as a substitute of solely spreaders of buyer satisfaction by means of entry to at least one’s money or as technique of switch of funds to family members and others or for payments fee. It was a loud message to the business from its chief that banks ought to spare no effort in guaranteeing that individuals’s lives aren’t put in danger as a result of they need to carry out completely professional banking transactions.
Subsequent had been two awards that recognised the unbelievable efforts FirstBank was investing into migrating clients from its bricks-and-mortar channels to different channels. In 2020, over 85% of all “customer-induced transactions had been carried out on [FirstBank’s] self-service channels”. This determine says lots FirstBank’s efforts in buyer migration to different channels.
World Finance recognised these efforts by awarding FirstBank “Greatest Shopper Digital Financial institution 2021” for “selling and accelerating buyer adoption of digital platforms”. BusinessDay, Nigeria’s main enterprise newspaper, additionally acknowledged the efforts and introduced FirstBank with the award of “Various Supply Channel of 2021” for “selling numerous transaction supply channels to its clients”.
For its relentless drive to make sure its clients are served utilizing one of the best core banking platform wherever and each time it’s accessible on the planet, FirstBank additionally acquired worldwide recognition. The Asian Banker Awards recognised FirstBank and Infosys (international consulting and IT companies firm that’s FirstBank’s strategic IT associate) with ”Greatest Core Banking Implementation in Africa 2021” award for “consistently upgrading its expertise to serve the wants of its clients”.
FirstBank’s modern efforts within the area of company banking additionally obtained international recognition. The popularity got here by the use of no much less an awards programme than The World Economics Awards, which, in line with the organisers – UK-based The World Economics publication, “serves because the epitome of the perseverance and credibility of its recipients”. The World Economics Awards introduced FirstBank with “Most Progressive Company Banking Options Supplier in Nigeria 2021” award.
By way of innovation, the excessive level was the Worldwide Banker Awards’ recognition that straddled each innovation and monetary inclusion. Worldwide Banker Awards introduced FirstBank with “Greatest Innovation in Retail Banking Nigeria 2021” award in recognition of “the impression the financial institution has made in bridging the monetary exclusion hole within the nation”.
No doubt, the award wouldn’t have come as a shock to observers of the nation’s monetary companies panorama. These observers have over time commented freely and extensively on FirstBank’s expansive community of over 750 branches and greater than 100,000 Firstmonie brokers (making Firstmonie the most important bank-led community anyplace in Africa), which have persistently put the financial institution in pole place to serve totally different folks and teams in all of the nooks and crannies of the nation.
No different financial institution has been capable of match FirstBank’s sturdy retail banking framework and infrastructure. The infrastructure additionally consists of digital banking companies and modern merchandise similar to FirstMobile (cell banking), USSD, FirstOnline (web banking), amongst others.
The identical Worldwide Banker Awards, “established to recognise top-ranking people and organisations setting new benchmarks for efficiency and pushing the boundaries inside the monetary business”, additionally introduced FirstBank with “Greatest Buyer Service Supplier of the 12 months (2021)” award. It was in recognition of FirstBank’s “wonderful service supply to clients, its dedication and dedication in the direction of assembly the expectations of the financial institution, while offering state-of-the-art monetary companies to its clients, regardless of the place they’re within the nation”.
Like the opposite credible awards organisations, the Worldwide Banker Awards employs a laser-focused method in its bid to supply recognition the place the organisation considers it due. The organisation depends on nominations obtained from readers of Worldwide Banker to find the worthiest monetary establishments around the globe. It considers these to be “the banks that aren’t simply doing their jobs effectively however exceptionally effectively, [and] which are in impact working on the slicing fringe of the business and setting new ranges of efficiency to which others within the subject will aspire.”
The Asian Banker Awards additionally gave FirstBank one other recognition. This time it was for the financial institution’s “Masks Up, Keep Protected” marketing campaign. The social media marketing campaign engaged the financial institution’s audiences to create on Instagram, make use of and share by way of numerous social media channels a personalized face-mask filter, with Christmas results on it, to generate consciousness on the significance of utilizing a face masks to remain protected throughout the pandemic. For the trouble, the Asian Banker Awards introduced the financial institution with “Greatest Social Media Engagement in Africa 2021” award.
By now it might have been clear to readers that the working mannequin of FirstBank is unquestionably a examine not solely in innovation and monetary inclusion but in addition company social accountability (CSR). However simply to underscore the financial institution’s efforts within the latter, an award particularly in that regard can be highlighted.
“Greatest CSR Practices Financial institution in Nigeria 2021” award by The World Economics Awards is one amongst a number of CSR-linked awards. The award was introduced to FirstBank in recognition of the financial institution’s efforts within the objective emigrate a million college students in Nigeria to e-Studying throughout the COVID-19 pandemic. This was at a time when faculties had been shut throughout the nation and around the globe, and youngsters had been pressured to remain at house for months.
There was additionally “Greatest Personal Financial institution in Nigeria”, an award that has develop into synonymous with FirstBank. The award by World Finance journal, which organises it yearly “to determine the banks around the globe which have excelled throughout…company governance, sustainability and innovation, and…performed a key position within the business’s development”, was additionally gained by FirstBank in 2017, 2018 and 2019.
World Finance named FirstBank “Greatest Personal Financial institution in Nigeria 2021”, recognising FirstBank’s Personal Banking division as “offering full-fledged personal banking companies protecting conventional banking companies, lending, wealth administration and asset administration options and way of life options.” Every year, by means of the award, World Finance selects one of the best monetary establishments across the globe in keeping with what it calls “the recognised and trusted requirements of excellence”.
“Treasury and World Markets Model of 2021” award was yet one more recognition FirstBank obtained. BusinessDay, the awarding organisation, couldn’t determine a extra worthy recipient than the premier financial institution in West Africa and the main monetary inclusion companies supplier in Nigeria for over 127 years.
Final however not least, is the popularity given FirstBank by the World Banking and Finance Awards as a “Subsequent 100 World Model” as a part of the Awards’ “Subsequent 100 World Firms 2021”. The popularity was for FirstBank’s “growth and development globally”. The Awards, in line with World Banking and Finance Evaluate publication that organises them, “reflectthe innovation, achievement, technique, progressive and inspirational modifications happening inside the international monetary neighborhood.”
With all these awards (and plenty of extra that aren’t indicated on this piece) coming to FirstBank in 2021 alone, it appears cheap to recommend that one yr or much less is lengthy sufficient for diligent explorers to find the corporate in Nigeria’s monetary companies business that finest fashions the triple values of innovation, monetary inclusion and CSR. And the explorers have credible native and international awards organisations to thank for making the duty lots simpler.
Now they’ll identify FirstBank as the corporate of alternative with none issue. What with all of the nominations for these awards (and the others not indicated right here), which, undoubtedly, replicate rising international recognition of the longstanding establishment’s modern drive and the sustainability of its working mannequin, coupled with its standing as one of many continent’s foremost monetary inclusion companies suppliers, and its unmatched efforts to mitigate the unfold of COVID-19 whereas selling the security of its clients and most of the people.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
We Have Not Had Water Provide In Months ― Abeokuta Residents
Regardless of the large funding within the water sector by the federal government and worldwide organisations, water shortage has grown to develop into a perennial nightmare for residents of Abeokuta, the Ogun State capital. This report x-rays the lives and experiences of residents in getting clear, potable and reasonably priced water amidst the surge of COVID-19 circumstances within the state…
Selfies, video calls and Chinese language documentaries: The belongings you’ll meet onboard Lagos-Ibadan practice
The Lagos-Ibadan railway was inaugurated just lately for a full paid operation by the Nigerian Railway Company after a few yr of free test-run. Our reporter joined the practice from side to side Lagos from Ibadan and tells his expertise on this report…
[ICYMI] Lekki Shootings: Why We Lied About Our Presence — Normal Taiwo
The Lagos State Judicial Panel of Inquiry probing the killings at Lekki Toll Gate, on Saturday resumed viewing of the 24hrs footage of the October 20, 2020 capturing of #EndSARS protesters by personnel of the Nigerian Military…
ICYMI: How We Carried Out The 1993 Nigerian Airways Hijack —Ogunderu
On Monday, October 25, 1993, within the warmth of June 12 annulment agitations, 4 Nigerian children, Richard Ajibola Ogunderu, Kabir Adenuga, Benneth Oluwadaisi and Kenny Razak-Lawal, did the unthinkable! They hijacked an Abuja-bound plane, the Nigerian Airways airbus A310, and diverted it to Niger Republic. How did they so it? Excerpts…
ICYMI: What North Will Not Settle for About 2023 Presidency —Prof Mahuta, UDU Don And Kebbi Dev Basis Chairman
Sahabi Danladi Mahuta, a neighborhood mobiliser and APC chieftain. Mahuta spoke to pick journalists on the sidelines of an Islamic convention in Abuja just lately. Excerpts…