First Bank holds Firstmonie Agent Banking Awards – First Bank has rewarded 37 leading Firstmonie agents that have been promoting financial inclusion in the country at its Firstmonie Agent Banking Awards.
FirstBank provides an array of digital financial services with the use of various payment channels to reach carefully segmented audiences with tailor-made financial solutions. Some of these channels, which have become the toast of customers and the industry, include: FirstMobile App, USSD (*894#) and Firstmonie, with the popular Firstmonie Agent Banking Network that is at the forefront of the national financial inclusion and gender diversity revolution.
At the awards, thirty-one agents won the sum of N250,000 each at the state level while five agents won the sum of N1,000,000 at the regional level. At the national level, the grand prize of N2.5 million was won by an agent from Abuja.
Also a further encouragement to promote the business activities of Firstmonie Agents, the bank announced the provision of loan facilities of up to N1,000,000 to the Agents. This new credit scheme, which they can access 24 hours a day, can be processed in less than two minutes.
The key strength of the Bank’s Agent Banking initiative is the ability to look at gaps in the society and develop products and services that address those gaps. It is therefore not surprising that FirstBank has driven the financial inclusion initiative much more vigorously than any other bank in Nigeria, with its Firstmonie Agent channel being among the bank’s many initiatives to expand financial access in the country.
In 2020 alone, the bank processed over 295 million transactions with a total value of N6.65 trillion and opened more than 196,000 accounts.