AI take over has just begun…
When the teasers started running in the dailies, the first thing that came to my mind was – of course Leo, is the fifth astrological sign of the zodiac with the lion as its symbol. But the question was who not what. Ok, then Leo is a lion, and like lightning I knew it was Lion King. This is UBA’s idea. Pronto! It is.
We all know who Leo is now. Leo is the UBA Chat Banker who enables customers make use of their social media accounts to carry out key banking transactions. Leo is the needed revolutionary personality on your social media. Leo being an intelligent personality will give you feedback instantaneously as you transact your business on the platform. A solution that is from the customer’s standpoint and is easy to use by anyone
With Leo, UBA has has changed the face of e-banking. Leo has brought about a novel way of delivering lifestyle and quality banking through the Facebook Messenger chat platform.
This is the first time that a financial institution in Africa has come up with this manner of solution to simplify the way customers transact. Something that has become necessary in today’s fast-paced world with demands for quick-time transactions and response.
With the launch of the Chat Banking, customers will be able to open new accounts, receive instant transaction notifications, check their balances on the go, transfer funds and airtime top up. They will also be able to confirm cheques, pay bills apply for loans, freeze accounts, request for mini statements, amongst other things.
According to Mr. Kennedy Uzoka, group managing director, UBA, the launch of Leo is part of initiatives aimed at putting the bank’s customers first with UBA continuously developing strategies aimed at easing transactions for the bank’s numerous users, while ensuring utmost safety of their transactions.
Mr. Uzoka said, “The formulation of this product, is consistent with the bank’s customer 1st philosophy, where we are doing things not the way we like, but focusing on what the customers want, where they want it, and in the exact platform they want it.’
He added that UBA, has been working with technology giants that have the global capacity to ensure not only seamless but also effortless banking for millions of its customers across Africa. He explained that UBA, has collaborated with Facebook to come up with this innovation that is capable of revolutionising the way banking is done in Africa. He noted that Leo will in the nearest future, show up on other social platforms and added that all it takes to enjoy the services is simply to have a Facebook account.
Mr. Austine Abolusoro, group head of Online Banking at UBA, who conducted a step by step demonstration on the working at the launch Leo, reitirated that Leo is not just a chat machine, but an artificial intelligence personality meant to address any type of banking concerns raised by customers.
“Leo is ready and waiting to help with most transactions and to deliver any form of banking services. Leo is operating a lifestyle banking platform on facebook messenger to assist with your transactions while chatting with your friends and business partners. The security with this platform is that for every transaction, an OTP (One Time Password) is generated to the phone number that is registered on your account.”
Compliance, security and privacy are still huge challenges for financial institutions when it comes to social, customers are not allowed to make payments, transfer money, or check their balances on those networks, but instead, they offer these pages to educate provide help and respond to questions in real time. The challenges have not deterred financial institutions from using social media platforms as they have observed that social media can have tremendous benefits for their businesses, whether through extensions of their PR, marketing, HR, sales or customer services team.
UBA was incorporated in Nigeria as a limited liability company after taking over the assets of the British and French Bank Limited who had been operating in Nigeria since 1949.
The Bank provides services to over 14 million customers globally, through one of the most diverse service channels in sub-Saharan Africa, with over 1,000 branches and customer touch points and robust online and mobile banking platforms.
UBA was the first Nigerian bank to make an Initial Public Offering, following its listing on the NSE in1970.
It was also the first Nigerian bank to issue Global Depository Receipts. The shares of UBA are publicly traded on the Nigerian Stock Exchange and the Bank has a well-diversified shareholder base, which includes foreign and local institutional investors, as well as individual shareholders.
By Kehinde Olesin