Historic feat Reached as GTBank and Etisalat Team up Partnership to Offer New Innovation in Retail Banking Service
Sir Roger von Oech was pointblank right when he posited in a quote that:"It's easy to come up with new ideas; the hard part is letting go of what worked for you two years ago, but will soon be out of date."
This very quote may be the driving force behind the rare union in innovative business bonding between Guaranty Trust Bank plc, a foremost financial institution in Africa and Etisalat, one of Nigeria’s most innovative and fastest growing telecommunications company
In a most formal but elaborate ceremony, in the Akin Adesola, Victoria Island office of GTB, both organizations unveiled a rare partnership which has eventually given birth to the historic GTEasySavers, a savings account that is easy to open and easy to save; designed to enable under-banked and unbanked individuals achieve their financial goals while operating a regular bank account via their mobile phones. This strategic alliance that will enhance the service delivery of both brands, will offer customers, unparalleled lifestyle and loyalty benefits.
Registered subscribers of Etisalat network can conveniently open a GTEasySavers account by simply dialing a USSD short code –“737*0#”via their mobile phones, and a ten digit GTBank account number is sent via SMS immediately. Funding of the account can be done by Cash deposits at Etisalat Experience Centers and GTBank branches; electronic transfers from other bank accounts; Cash Deposit ATMs at GTBank branches and GT Express Agent locations.
Speaking on the partnership, the Managing Director and CEO of Guaranty Trust Bank plc, Mr. Segun Agbaje stated that “we are passionate about driving the CBN’s financial inclusion strategy in ensuring the under banked and unbanked, begin to find the propositions of banking services more attractive and convenient and then take the bold step of patronizing our numerous bank products and offerings, a passion which we fully share with Etisalat Nigeria”.
The GTEasySavers account operates like a regular bank account and is in line with the Central Bank of Nigeria’s financial inclusion strategy for the country. Transaction limits on the account is pegged at CBN’s Tier 1 KYC status limits of N20,000 for single deposits and maximum cumulative of N200,000 account balance at any point in time. Benefits for account holders include free airtime, higher interest rates on savings and quarterly rewards.
"This is a new chapter in the continuing growth of the banking industry made possible through GTEasySavers by GTBank and Etisalat Nigeria. Enabling account opening via an Etisalat phone will make it more convenient for individuals to carry out transactions using the transformative power of the banking system. Etisalat currently has the highest quality network in Nigeria and our partnership with GTBank is designed to add value to the lives of our customers and make banking more accessible. We will continue to offer innovative products and services in fulfillment of the promise we made to Nigeria over six years ago when we commenced operations in the country. The partnership will also begin the journey for unbanked customers from our over 22 million subscriber base," said Etisalat’s CEO Matthew Willsher.
Customers who sign up for this account need not provide any initial documentation but can upgrade the status of their accounts to Tier 3 at any time, by simply visiting any GTBank branch with additional information/documentation, including a valid identification card and utility bill.