Mobile Phone Banking Gets Better as GTBank and Etisalat Patner

Guaranty Trust Bank (GTB) and Etisalat, an innovative and growing telecommunication company, have entered into a business alliance to deepen financial inclusion in line with the Central Bank of Nigeria’s (CBN) policy.

Under the partnership, the two companies are introducing GTEasySavers product, a savings account designed to enable the under-banked and unbanked individuals to have easy access to open account and save money and achieve their goals while operating a regular bank account via their mobile phones.

It is estimated that there are about 30 million Nigerians within the banking population but the bankable population is about 80 million leaving about 50 million individuals who are unbanked.

This strategic alliance is therefore designed to capture some percentage of the under-banked as the product will enhance the services confer delivery of both brands and offer customers unparallel lifestyle and loyalty benefits.

The product allows registered subscribers of Etisalat network to conveniently open an GTEasySavers account by simply dialing a USSD short code – “737*0#” via their mobile phones, and a ten digit GTBank account number is sent via SMS immediately. Funding of the account can be done by cash deposits at Etisalat Experience Centers and GTBank branches; electronic transfers from other bank accounts; Cash Deposit ATMs at GTBank branches and GT Express Agent locations.

Speaking on the partnership, the CEO of GTB, Segun Agbaje, stated that “we are passionate about driving the CBN’s financial inclusion strategy in ensuring the under-banked and unbanked, begin to find the propositions of banking services more attractive and convenient and then take the bold step of patronising our numerous bank products and offerings, a passion which we fully share with Etisalat Nigeria”.

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