Many banks have taken to promos to woo customers. One of them is United Bank for Africa (UBA), which Bumper Account promo raffle draw, has held in Lagos. During the event, over 100,000 of them won N100,000 each, with N2 million as the bigger prize. Fidelity bank PlC and Access Bank also held similar events. The promos ensure that more people embrace savings culture and supports the Central Bank of Nigeria’s (CBN) financial inclusion policy, writes COLLINS NWEZE.
Call it rewarding loyal customers, or new form of wooing customers. Banks have found a new ground to bring more customers into their deposit net. The reward schemes, coming in the form of promos, are turning lucky and loyal customers to instant millionaires.
The winners are getting cash prizes, foreign trips, houses, and gift items via promos that are fast defining the next level of competition. It expertise is creating a new drive for customers to save more to promote sustainable growth for their family and economy.
United Bank for Africa (UBA), Fidelity Bank, Access Bank and First City Monument Bank (FCMB) are many of the lenders that are giving out millions of naira, houses, and other gift prizes to their lucky customers.
Financial pundits said such reward schemes could also promote the Central Bank of Nigeria’s (CBN) financial inclusion drive and make banking more interesting for customers.
For instance, UBA has launched the UBA Bumper Account, a hybrid account, targeted at transforming the lives of its customers. The new account is in line with the bank’s mission of creating superior value for its stakeholders while encouraging saving cultures among Nigerians.
The account, carefully crafted to improve the lives of the UBA customers, is offering account holders opportunity to win cash prizes of up to N2 million.
Speaking during the launch and monthly draw held at the UBA Head Office, in Lagos, the Group Head, Retail Banking, Jude Anele, said the New UBA Bumper Account was created with the customer in mind.
Anele said: “We have in recent times deepened our focus on the most important aspect of our business – the customers we serve. Hence, our huge investment in technology to make banking easier and seamless, even as we introduce new offerings such as this Bumper Account, that will deliver improved value to stakeholders.”
He explained that new and existing customers of the bank needed to ensure they have a minimum deposit of N5,000 in their UBA Bumper Account to qualify for draws.
According to him, current UBA customers are to dial *919*20*1# to migrate to the UBA Bumper Account whilst potential customers should dial *919*20# if interested in opening a UBA Bumper Account.
In the first draw, which held live during the launch, 100 customers emerged winners as the Bumper- to-Bumper Crooner, Wande Coal, serenaded guests with his famous hit songs to the delight of all.
UBA did something interesting when it decided to take details of customers at the draw venue and included them in the draw data. As the winners were announced, many of the customers won and they got their cash prizes.
“One hundred customers emerged winners at the live draws, which took place here, and as you have seen, some of our customers here were part of the lucky ones who won N100,000 each. From here on, lucky customers will win from N10,000 to N2 million each in the monthly, quarterly and targeted draws,” Anele stated.
He added that a monthly shopping allowance of N100,000 for a year is also up for grabs. “No fewer than 50 account holders will get N2 million each across all the regions. This account is open to existing and new customers of the bank who save a minimum of N5,000,” Anele noted.
Amos Wisdom, one of the winners, could not hide his joy when is name was announced. “I am still very amazed. Before I came here, I had the conviction that I would win. All my life, I have never won anything like this, and I am very happy that I won this time. Thank you so much, UBA,” he said.
Another winner, Ohagbelum Peace, who could not believe it when her name was announced said if she wasn’t present, she would not have believed in promos like the UBA’s. “I am very grateful. This is a new experience for me and I am now a number one fan of UBA. This has re-enforced my belief for this bank,” Peace said.
A representative of the National Lottery Regulatory Commission (NLRC) was at the event to ensure that winners were selected fairly. The agency noted that it had worked with UBA in many promos in the past without any problem. It said the exercise was transparent and would go a long way to boost people’s confidence in the financial system.
The Head Consumer Banking, Chiedu Ibeku appreciating the customers present, said: “We had two major objectives for this account, which is to say a big thank you to our customers for being there and, most importantly, to encourage a savings culture. Our intention is not only to reward loyalty, but also to transform the lives of our customers.
“UBA will not relent, because we are aware that if our customers succeed, we ultimately succeed too and this will spur us on to make the desired impact in their lives.”
UBA is not new in rewarding customers. Before this promo, 10 customers of the UBA won a three-day all-expenses paid trip to Kenya as part of its MoneyGram/Western Union Awoof promo. Another 40 also won various consolation prizes such as LG Home theatres, DSTV decoders with one year subscription among other items at the raffle draw of the second promo in Lagos.
Fidelity Bank PLC is also rewarding customers through its “Get Alert In Millions (GAIM) Season 4” promo during which N120 million will be won.
The GAIM promo is expected to run till April.
At a press conference heralding the commencement of the promo in Lagos, the bank’s Managing Director/CEO, Nnamdi Okonkwo, said the campaign was the ninth of the savings promos organised by the bank in the last 12 years to reward its customers.
Okonkwo, represented by the Executive Director, Shared Services & Products (EDSS&P), Chijioke Ugochukwu, pointed out that the campaign seeks to reward customers for their loyalty and patronage.
While the savings promo is targeted at a cross section of customers, Okonkwo noted that the bank apart from using traditional channels will utilise digital platforms, such as its Quick Response (QR) code and Virtual Assistant, to reach unserved areas.
Equally, Access Bank Plc has continued to reward its Diamond Extra promo winners with cash and gift prizes.
Bringing innovation to banking
UBA is offering a new product, UBA Connect, which aims to enable its customers to conduct traditional banking transactions at any UBA branch in the 20 African countries where the bank operates.
In upholding the banks drive towards financial inclusion for the underserved, the service will be available to both customers and non-customers equally, encouraging intra-African trade. This would make the Nigerian-based bank a prefered choice for non-customers travelling to African countries where the bank is the domicile for easy access to funds.
According to the new Chief Executive Officer of UBA Africa, Oliver Alawuba, “Africa stands to benefit substantially from intra-Africa trade, which is facilitated by the easy flow of capital within the continent.”
He said because the bank is committed to creating superior value for its stakeholders, it is focused on ensuring that it continues “to contribute significantly to the development of Africa by improving accessibility and trade with UBA Connect, among other innovative services.”
This product is expected to trigger growth for the bank, as the unbanked in sub-Saharan Africa – developing countries like Nigeria, Kenya, Zimbabwe and Tanzania – are a significant number of the roughly 1.7 billion “unbanked” individuals around the world.
The bank services over 19 million customers across Africa. But with this new product, that number may double if the public is educated on how to use this product.
The CEO further explained that the new offering allows easy transfers to UBA accounts across African countries as well as cash deposits into UBA accounts at any of the bank’s locations in Africa, adding that the cash will be dispensed to customers in local currencies at competitive exchange rates.
Group Head, Marketing, Mrs Dupe Olusola, expressed excitements for the bank to offer its customers the ease and convenience of UBA Connect. She noted that UBA Connect is, in addition to an array of digital platforms, which have made banking easy.
The CBN has urged banks to be innovative to increase their share of the global markets. According to the apex bank, competition is getting keener in the markets, and only banks that are innovative and creative will remain relevant. https://thenationonlineng.net/banks-adopt-promos-to-woo-customers/
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