₦airaland Forum

In a conscious attempt to make real its online banking facility, new generation and ever ground-breaking bank, GTBank has released a hit video to further expand the horizon of the unique service.

Teeming with colorful scenes, groovy beats and a melody that you won’t forget easily, the video of GTBank’s 737 theme song, 737 Moments has all the spectacles and staples of a hit. Its purpose, though, is not to climb into the charts and claim the number one spot (where it rightly belongs), it is to highlight the simplicity and accessibility of 737 and its availability to every Nigerian at every moment in time. 737 Moments is a celebration of every moment at home, in the office or on the go, whenever the bank’s customers dial *737# to buy airtime, transfer funds, pay bills or complete any of their transactions. Bereft of a super star cast and featuring people from all walks of life, the 737 Moments Video emphasizes the simplicity and universality of 737, with its fervent promise of Simple Banking for Every Nigerian. But contrary to the good intention and genuine motive of the mobile platform, the service may not yet be the pride of its customers, as many of them spoken to, said the service is still not as effective as the bank promised them; as against the recent AGM’s records of the bank which show over one trillion transactions on the mobile apps.. This is even against the grand advertisement and sensitization programs rolled out by the bank in the wake of the campaign; a campaign and publicity drive that purportedly ran into several millions of Naira between 2015/2016. Most customers who have plunged into the perks and advantages offered by the plum service offered by the bank are now crying wolf having been hoodwinked by the campaign after experiencing one anomaly or the other in the course of using the service. A typical case in the shoddy service being provided by the mobile app, which has been severally encountered by many customers, is that when they dial the prescribed *737# for transaction, there is a unanimous and discouraging response of “unable to process request’. This nauseating experience has become so monotonous and rampant by the service provider, to the extent that most customers now feel disillusioned about the poor and skeletal service by the second generation bank, which prides itself as one of the prime movers of the industry, and by extension ‘guarantees’ its customers. The poser now is: How truly guaranteed are their customers if they cannot easily access their acclaimed lofty service and product via e-banking? Something, therefore, must be definitely wrong with the widely-acclaimed ‘most-friendly and best customer-service financial institution’. It thus behooves the management of the once-favoured and well-patronized commercial bank to earnestly brace up in order to avert the imminent and impending shortfall of the inclement development. Thus, in the wake of these several anomalies and short comings on the part of the once high-flying and prompt/efficient delivery bank, many of its valued customers across the country and even beyond, have been complaining bitterly, venting their spleen, and voicing out angrily, just as some have already dumped the bank for better and more preferable ones, while some are only waiting in the wings to follow suit, if the unwholesome situation continues. May be, and just may be, this is what the bank is trying to address through the 737 Moments theme song, that could go a long way in renewing their confidence in the bank as the ‘smartest way to transfer.’

Source - http://airwavesreport.com/index.php/business/item/983-gtbank-takes-737-campaign-to-another-level-releases-moments-music-video-as-theme-song

The bank's destiny had hinged on the tripod stand-the three owners. The handwriting had been on the wall only that it has cleverly been whittled down amicably by concerned friends, colleagues and associates of the principal actors in the current emerging leadership crisis that are threatening to rock the very foundation of the thriving financial institution, Guarantee Trust Bank Plc.

It might be of no consequence at this juncture to recall the skirmishes that reared its head shortly before and after the death of the immediate past MD/CEO, Tayo Aderinokun few years back but the court case instituted against the bank by the eight year-old daughter of the deceased MD, Miss Oluwatise Aderinokun on how the bank allegedly manipulating her father’s major shares in the bank, has suddenly given rise to yet another round of face-offs among the top hierarchy of the bank. The actors involved are Mr. Fola Adeola, the pioneer MD/CEO of the bank, the current MD, Mr. Segun Agbaje and a couple of principal stakeholders in the bank. The contention has been that since Agbaje took over the mantle of leadership at the bank, directly or indirectly, he has been effecting certain measures that have not been favourable to the Fola Adeola and Aderinokun nests of the bank. To the extent that most sensitive management positions are now being occupied by some of Agbaje’s goons in the bank, much to the distaste of certain major shareholders in the bank, especially Fola Adeola, who is believed to be the principal architect of the bank at inception, of course in alliance with the late Tayo Aderinokun.

The assumption in many circles is that, Agbaje who joined the bank in 1991 as a foundation staff, and rose rapidly to executive directorship status before ultimately assuming the head honcho rank, couldn’t have been muscling much executive powers to the detriment of the founding partners, whether dead or alive. But as the internal wrangling raged on, albeit in under currents and silently being handled by the concerned parties, the little Oluwatishe Aderionokun court case has simply shown that the matter is far from being settled, as it has opened up more wounds than closed them up. Contemptuous as the case may be now, observers in the financial circuit are beginning to read a riot act from different corners of the divide. With the tenure of Agbaje gradually coming to a statutory end as the MD, some senior staffers of the bank who are presumably not in sync with Agbaje’s management style, are already planning to turn in their resignation, before the long arm of Agbaje catches up with them in the unfolding super power tussle in the bank.

Their assumed contention is that Agbaje may use them as the sacrificial lamb by checking them out, within his executive powers, before his tenure lapses. On the other hand, the de facto founder of the bank, Adeola, is allegedly also not said to be taking the matter lightly, since he might probably have an upper hand in who succeeds Agbaje, and as such, might bring on someone who will come in to come and clean the Augean stable, purportedly created by Agbaje.

Invariably, the next MD might be used by Adeola to equally flush out known disciples of Agbaje upon his exit. The situation also might get more complex, if going by rotation, the next MD after Agbaje’s successor will automatically come from the Aderionkun nest, and the witch-hunting exercise might just continue. Perhaps this is why the case of little Oluwatishe is not being taken with kids’ gloves by her mother, Mrs. Salamotu Aderionkun.

Sources believe that if the substance and grounds of the case are decided in their favour, then the substantial shares of Aderinokun’s in the bank will stand them in good stead for a deciding factor in critical decisive matters that concern who gets what in the bank, especially when it comes to the turn of the next CEO of the bank at the appointed time.

All these are still conjectural, but industry watchers remain undaunted in their belief that this is where the rather unpleasant matter is grinding to, and the verdict or judgment of the Federal High Court will go a long way in giving a breather to the scenario. Financial experts are also trite in their aversion that this is common in many jointly-financed companies, as the death of one or more principal founders/partners often leads to premature or total collapse of the organization. For the records and even to whet your appetite on how the whole unpleasant matter reared its ugly head, certain faceless people and rabble-rousers had years back gone to town with the unfounded rumour that there was no love lost between Adeola and Agbaje. They had claimed then that the two financial guru were dangerously poised to tear at each other like loaded guns. They predicated their argument on the frosty relationship that ensued between Adeola and late Tayo Aderinokun with whom he founded the bank. The duo allegedly fell out with each other and subsequently related like cat and dog until Aderinokun unfortunately passed away. Agbaje however, incurred Adeola’s detest, courtesy his known chummy relationship with late Aderinokun. The current GTBank M.D was very close to Adeola’s late partner and thus became his foe by default. No sooner did Aderinokun die, did Adeola and Agbaje acknowledge their undisguised contempt for each other, they claimed.

The relationship between Adeola and Agbaje has reportedly deteriorated to the extent that there are fears in high-powered circuits of the banking sector that if eventually Adeola succeeds Godwin Emefiele as the CBN governor, as it was being touted then, he would gun for Agbaje, subject him to a tough inquiry and make mincemeat of him. For now, no one knows where the matter will gravitate to but the tell tales of an imminent cold war among principal stakeholders are daily being relayed within the bank. It is that unsavoury for the once ‘guaranteed bank’ whose esteemed customers might be the ultimate end-losers if the unexpected happens.

Source - http://airwavesreport.com/index.php/business/item/972-gtbank-leadership-tussle-deepens-the-new-twists-emerging

It was one of the toasts of the banking sector in the 70s to the 90s. And then other banks joined the fray. With technological innovation beckoning and the face of banking rapidly changing in the 21st century, banks had to reposition to attract more customers and retain the old ones.

Union Bank, led by its leadership and CEO, Mr Emeka Emuwa, has witnessed great and tremendous transformation from changing its brand icon and investing in online banking among other things. For a bank that has been perceived as a bank for the elderly, civil servants and traders, Union Bank, under the new management, has been able to penetrate every segment of the money market. Their old mantra, 'Big, Strong, and Reliable' had been re-jigged to 'Building Simpler, Smarter Bank'. The rebranding exercise has attracted the youth and upwardly mobile customers in an era, where digital banking is now the order of the day. Staying relevant by providing simple and smart banking solutions to all its customers, the apex bank strategic focus, the lender has refurbished over 50 branches across the country and upgraded its network for seamless online real-time banking experience.

This is being reflected in the bank’s current rating and profitability. In discharging its banking services, Union Bank has intensified efforts to ensure that its customers enjoy convenient electronic banking channels and products, including online banking, mobile banking, bank cards, ATMs and PoS systems. Some of the clients that have experienced their services recently, an entrepreneur, Dickson, from Abuja, noted that Union Bank online banking is now seamless and you hardly experience network glitches, as it is common place with other banks.

Customers can now enjoy more as the bank is ever poised to continually deploy simpler and smarter banking products and services across the country. In financing Small, Medium Enterprises (SMEs) and Micro, Small and Medium Enterprises (MSMEs) in Nigeria, Union Bank has been at the forefront of supporting SMEs in Nigeria. The bank is now fully committed to supporting small and growing businesses through its e-business solutions and loan products. With over 700 dispensing ATM machines, Union Bank is available to meet the needs of SMEs around the country. Some of the services under the Union e-business solutions and loans services include , POS terminal services, online banking, mobile banking, short and medium project loans with adequate moratorium for the development of Land & Factory buildings, bulk stocking of goods and raw materials. Front line business-inclined newspaper, Business Day adjudged Union Bank the ‘best bank to support small, medium scale enterprises (SMEs)’ during the annual banking award organized by Business Day Newspapers in Lagos. In 2014, the bank was given the CBN’s Best-Support Bank on ACGSF (Agricultural Credit Guarantee Scheme for Farmers) award for the 8th consecutive year.

The bank has an array of customer friendly products that helped in building solid brand equity. Innovative products like: UnionKorrect and UnionGoal, saving account products have been celebrated by customers across Nigeria. Another innovative service of the bank is the MoneyGram naija, a platform where customers can send money from Nigeria to friends or family members abroad. Some of the Awards and Recognitions that Union Bank is proud of are: Best Brand Development To Reflect Changed Mission/Vision/Positioning (2016), Best Visual Identity From The Financial Services (2016), Best Bank to Support Small, Medium Scale Enterprises (2015), Web Jurist: Best in Aesthetics (Banking Category) (2014) and Commerzbank AG Trade Award for Excellent partnership for the year 2014. Indeed the Emeka Emuwa-led management of the bank is not resting on its oars as they aim to be the premium bank of repute offering products that afford customers the best banking experience.

Source-
http://airwavesreport.com/index.php/business/item/975-union-bank-re-strategizes-makes-wider-reach-targets-younger-customers