First Bank targets 30 million customer base in three years
First Bank Nigeria Limited is poised to grow its customer base to 30 million over the next three years.
The Managing Director/Chief Executive of the Tier 1 lender, Dr. Adesola Adeduntan, had announced last May that the bank had begun implementing a three-year strategy that would result in increasing its customer base to 30 million.
In statement posted on its website, First Bank disclosed that in line with its strategy to grow its customer base to 30 million over the next three years, it has just launched a “Project Orion,” a “technology-led transformation programme aimed at fully automating the Finance, Risk Management, Compliance and Human Capital functions, using a proven Enterprise Resource Planning and Enterprise Risk Management (ERP/ERM) system.”
The ERP/ERM solutions, the lender said, would eliminate process redundancies as well as strengthen risk management and controls, support cost optimization, improve efficiencies and profitability.
It also stated that last June, it announced the launch of its refreshed and user-friendly website, adding that besides being built for the digital age, the new website is easy to access and navigate for the average multi-screen user.
According to the statement, the new website is considered a unique evolution for the lender in terms of information and interactive services available for customers, investors, shareholders and the global community.
Commenting on the new website, the Group Head, Marketing and Corporate Communications, First Bank, Mrs. Folake Ani-Mumuney, said: “The launch of the refreshed website comes in line with measures that the Bank has taken to execute its digital banking strategy that aims to progress all facets of the its activities in line with global best practices.”
She explained that First Bank has benefited from modern technology tools to ensure a solid technical foundation for the new site, which would see continuous enhancements in the coming months to enhance the effectiveness of its operations and provide all key information needed by customers, investors and other visitors of the website to make investment decisions and have a better customer experience.
Adeduntan had said then: “The strategy is focused on significantly growing our customer base. We plan on having minimum of 30 million customer account over the three years. We are currently at about 14 million customer accounts.
“Our commitment is that, given the number of branches that we already have, which is slightly below 750, we don’t intend to make additional significant investments in building new branches.
“We are left with aggressive digital marketing initiatives, which means, migrating our existing and new customers to alternative channels, namely First Online, Firstmobile, Dollar and ATM cards. That is the way forward for us and we are making significant progress already,” the bank chief said.
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