Customer convenience takes centre stage in Fidelity Bank's Novel Innovations

It’s not news that tech innovations are shaping and will continue to shape the future of the world. What won’t stop to draw the world’s fascination, however, are the innovations that are emerging as the concept of life as we know it rapidly changes.

New innovations are pivotal to human experience and development, and innovators across various sectors are running a race to position themselves as leaders of a constantly evolving new world.

This is unsurprising, as innovations lead to the creation of competitive intelligence or advantage among players in various sectors.

In the Nigerian banking sector, this phenomenon regarding innovations of digital products and services for customer convenience are not any different. Banking institutions, in their attempts at driving competitive advantage and adapting to the times, are remodelling existing solutions or developing newer versions for improved customer experience. These digital innovations are also targeted at ensuring continuous process improvement, improvement in brand recognition and value, the establishment of new partnerships and relationships, and increase in profitability.

Leading the charge of improved customer experience and engagement in the Nigerian banking sector is Fidelity Bank, with its deployment of new digital innovations to satisfy customers’ thirst for smoother processes and services in their day-to-day financial dealings. With a rollout of new innovations like the Fidelity Insight, Fidelity Virtual Cards, the Pay Yourself initiative for corporates, the Fidelity Loan Against Turnover (FLOAT), as well as a feature that allows customers to generate a stamped statement of accounts, Fidelity Bank is fast establishing itself as a bank with incomparable foresight.

Its FLOAT initiative, for example, solves the problem of tedious loan request processes experienced by individuals and small business owners in Nigeria. The customer-friendly scheme is impressively characterised by its easy acquisition process, which includes no collateral, guarantor or hidden fees. These FLOAT features indicate a deliberate effort to offer sophisticated and straightforward services to customers of Fidelity Bank.

The fast-growing tier two bank’s novel Pay Yourself initiative for corporates and salary earners is even more impressive. Customers of Fidelity Bank whose salaries are domiciled with the bank can now easily pay themselves their salary via USSD code anytime from midnight on their official payday to the last day of the month. With this product that effectively quells worry over delay of payments, salary earners no longer have to wait until their employers’ sort payments before they are paid.

Another initiative that distinguishes Fidelity Bank is the Fidelity Virtual Card, a unique digital service that is aimed at improving customers’ convenience in executing online transactions. The easy-to-generate virtual card is secure and functions like physical bank cards, allowing customers to shop on local or international online stores, pay bills, subscribe to services, amongst other things.

At a period when there is an increasing urge for digitalisation of all banking processes, the innovation of the Fidelity Virtual Card positions Fidelity Bank as being in a class of its own.

The innovation of Fidelity Insight and another feature that allows customers to generate stamped statements of accounts are just as ingenious. Fidelity Insight provides customers with the opportunity to look into their spending patterns; a feature that will turn out useful for them in making better spending plans.

An agency under Nigeria’s Federal Ministry of Science and Technology, the National Centre for Technology Management (NACETEM), has recently reiterated the importance of innovation of new digital products and services to the country’s growth in an increasingly fast-paced world.

Fidelity Bank, indisputably one of Nigeria’s leading financial institutions poised for tier 1 status, is effectively meeting with the demand for new innovations, consequently placing itself as an authority in creating accessible digital products and services for customers’ convenience.