The Banker, a UK based magazine has named United Bank for Africa (UBA) the ‘Best Transaction Bank’. According to the magazine, the judges were impressed by UBA’s clear demonstration of the improvements made to its transaction service business. Jane Cooper, transaction banking editor of ‘The Banker’ magazine explained, “The judges looked at entries that demonstrated a clear strategy, as well as improvement and progress in the last 12 months. Investment in technology was not the deciding factor, but rather improvements that are of real value to the bank’s customers.”
In a statement, Charles Aigbe, divisional head, marketing and corporate relations, UBA said the endorsement is hinged on the bank’s e-Banking platforms that have positively changed the way businesses manage their cash flow, payments, collections, liquidity, trade and value chain management across their business operations in Africa.
Phillips Oduoza, GMD/CEO of the UBA Group welcomed the announcement, noting that the endorsement validates the bank’s concerted efforts to ensure that customers across the continent are offered the best and most convenient solutions that are most critical to their business processes.
“Our U-Direct Corporate offers a single platform solution for cash management to assist businesses and governments in Africa in making payments, collections, managing cash easily, and doing trades. It has been well received because of its flexibility, automation, ease of doing business and cost savings. A unique aspect of this product is that it allows busy executives to approve requests and view balances on their mobile devices”, he stated.
Yinka Adedeji, Divisional Head, e-Banking UBA explained that the bank has been able to innovatively apply technology to help both small and big businesses in Africa boost productivity and significantly reduce operating costs, thereby enhancing their competitiveness in a highly challenging business environment. He raised the need for more investments by African banks in improving their transaction banking capabilities especially in collections and payments as well as improving the security features of their transaction banking platforms.
The UBA Group possesses strong retail presence and penetration across the African continent. With more than 7 million customers, it serves as a highly diversified financial services provider and is one of the largest financial institutions in Africa, with offices in New York, London and Paris.
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This article was first published on 10th September 2014
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The Banker, a UK based magazine has named United Bank for Africa (UBA) the ‘Best Transaction Bank’. According to the magazine, the judges were impressed by UBA’s clear demonstration of the improvements made to its transaction service business. Jane Cooper, transaction banking editor of ‘The Banker’ magazine explained, “The judges looked at entries that demonstrated a clear strategy, as well as improvement and progress in the last 12 months. Investment in technology was not the deciding factor, but rather improvements that are of real value to the bank’s customers.”
In a statement, Charles Aigbe, divisional head, marketing and corporate relations, UBA said the endorsement is hinged on the bank’s e-Banking platforms that have positively changed the way businesses manage their cash flow, payments, collections, liquidity, trade and value chain management across their business operations in Africa.
Phillips Oduoza, GMD/CEO of the UBA Group welcomed the announcement, noting that the endorsement validates the bank’s concerted efforts to ensure that customers across the continent are offered the best and most convenient solutions that are most critical to their business processes.
“Our U-Direct Corporate offers a single platform solution for cash management to assist businesses and governments in Africa in making payments, collections, managing cash easily, and doing trades. It has been well received because of its flexibility, automation, ease of doing business and cost savings. A unique aspect of this product is that it allows busy executives to approve requests and view balances on their mobile devices”, he stated.
Yinka Adedeji, Divisional Head, e-Banking UBA explained that the bank has been able to innovatively apply technology to help both small and big businesses in Africa boost productivity and significantly reduce operating costs, thereby enhancing their competitiveness in a highly challenging business environment. He raised the need for more investments by African banks in improving their transaction banking capabilities especially in collections and payments as well as improving the security features of their transaction banking platforms.
The UBA Group possesses strong retail presence and penetration across the African continent. With more than 7 million customers, it serves as a highly diversified financial services provider and is one of the largest financial institutions in Africa, with offices in New York, London and Paris.
