Zenith Bank Launches Z-Money to Penetrate Retain Segment

Zenith Bank Z-Money

By Modupe Gbadeyanka

In order to take banking services closer to its customers and enhance financial inclusion among the under-banked and unbanked populace of Nigeria, one of the leading financial institutions in Nigeria, Zenith Bank Plc, has introduced what it calls the Z-Money.

The lender said in a statement issued in Lagos this week that it hopes to open more bank accounts to new customers and enable make different financial transactions.

This, according to Ze4nith Bank in the statement, would be made possible through its network of agents spread across the urban and rural communities in the country.

With the Z-Money, customers would be able to open accounts, deposit cash into any account, withdraw cash from any bank account, transfer funds, buy airtime, pay bills, and do so much more in a convenient way.

Zenith Bank emphasised that in order to engender trust among its customers, it ensures that all transactions done through the agents are PIN protected and safe.

Commenting on the new product, the Group Managing Director/Chief Executive of Zenith Bank Plc, Mr Ebenezer Onyeagwu, stated that, “The bank remains focused on providing premium financial solutions that create value for its customers wherever they are located across the country.”

He added that apart from helping to extend the bank’s retail reach across all segments of the market, the adoption of the agency banking platform also demonstrates the bank’s commitment to achieving financial inclusion in the country.

Zenith Bank Plc is recognized as one of the most innovative financial institutions in Nigeria and was voted the most customer-focused bank in Nigeria for the Retail and SME segments in the 2018 KPMG Annual Banking Industry Customer Satisfaction Survey (BICSS).

The bank’s commitment to world-class service standards has led to several product innovations over the last few weeks including the Zenith Timeless Account, which allows Nigerians aged 55 years and above bank for free, the Zenith Save4me, a high interest target savings account and Dubai Visa Service on the Zenith Internet Banking Platform, which allows convenient application and payment for visas to Dubai.

Business Post gathered that the new Z-Money agency banking product of Zenith Bank entails the onboarding of agents who are expected to render basic financial services on behalf of the financial institution.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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