As part of efforts targeted at getting closer to its customers, satisfying them promptly and woos others outside its network , the United Bank for Africa (UBA) has unveiled ‘Leo’, an artificial intelligent (AI) technology application that provides banking services to customers through the social media platform, especially the Facebook.
Leo is a chat banking solution that helps address any type of banking concerns raised by customers through the Facebook Messenger chat platform.The Group Managing Director UBA, Kennedy Uzoka, while speaking at the official launch of the solution in Lagos at the weekend, said with the app, the bank’s customers from across Africa are able to open new accounts, receive instant transaction notifications, and check their balances on the go, transfer funds and do airtime top up.
Uzoka noted that this was the first time that a financial institution in Africa has come up with such a solution to ease customers’ transactions as “it has become necessary in the fast-paced world that customers live in which demands quick-time transactions and response.
He said, “The formulation of this product, is consistent with the bank’s customer 1st philosophy, where we are doing things not the way we like, but exactly what the customers want, where they want it, and in the exact platform they want.
“And so, we have been working with technology giants from around the world because for UBA with so many customers, we have to deal with those who have the global capacity. Therefore, we at UBA have collaborated with facebook to come up with this. In future, Leo will show up with other platforms. All you need to do is to have an account with facebook,” he said.
“The platform will also enable able customers to confirm cheques, pay bills apply for loans, freeze accounts, request for mini statements, amongst other things. The bank has set up its indemnity online, which allows customers to change their transaction limit even as they can as well meet the other requirements for account opening on their own.
“We have aligned Leo App with the normal banking limit. for customers who are enrolling for the first time, Leo takes them automatically through low Know Your Customer (KYC) programme which will enable them to do up to N50,000 transactions.”
According to him, the need for the product has become necessary in the present fast-paced world with demands for quick-time transactions and response.
“We have been working with technology giants that have the global capacity to ensure not only seamless but also effortless banking for millions of our customers across Africa. We have collaborated with Facebook to come up with this innovation that is capable of revolutionising the way banking is done in Africa.”
He added that Leo will in the nearest future, show up on other social platforms and added that all it takes to enjoy the services is simply to have a Facebook account.
Uzoka stressed that the UBA Chat Banking with Leo was not just the typical products that people see, saying it comes with the product that anybody will understand to ease transactions and help to keep up the lifestyle of individuals, adding that it is designed from the customer’s standpoint.
UBA’s Group Head, Online Banking, Austine Abolusoro, explained that Leo is a solution that understands customers’ lifestyle, using Facebook messenger to assist customers in their transactions while chatting with your friends and business partners.
“The security with this platform is that for every transaction, an OTP (One Time Password) is generated to the phone number that is registered on your account.”