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Intercontinental Bank Expands e-Banking Stories by Olugbuyiro Akinola To further shock up its profitability margin and as part of efforts to consolidate its leading position in the electronic banking services Intercontinental Bank Plc has introduced Telephone/SMS. The product, which has already gained wide acceptance, is expected to dovetail into the e-banking platform of other members of the Intercontinental Bank Group with the consolidation of the Group. The group made up of the Intercontinental Bank Plc, its subsidiaries and associated institutions whicll include Equity Bank (Nigeria) Limited, Gateway Bank Plc and G obal Bank, has a capital base of N16.4 billion as at 2003 and it plans to raise it to N35 billion by end of 2005. The Telephone/Mobile Banking services, one of the ILink products of the bank, offers customers 24 hours online access to their accounts via telephone/GSM. Under this platform, customers can also use the facility to top up (credit) their GSIV, phones, receive account statements or balances, as well as transfer funds between designated accounts. Meanwhile, the bank has rolled out yet another electronic product, PC/INTERNET BANKING service. Like the SMS product, the PC/INTERNET BANKING service offers customers 24 hours seamless access to their accounts but unlike SMS this is via the Internet modem or internetlinked to their PC. The beauty of the product is that it presents customers with a high level of functionality, wllich is necessary for carrying out their financial activities. Intercontinental Bank Plc offers a full range of products covering a wide spectrum of the market. They include the Intercontinental Diamond Fund (IDF), Intercontinental Valuable Yield Account (IVY), Intercontinental Premium Savings Account (IPSA) and the Intercontinental Classic Current Account (I CLASS). The bank has also been licensed as a direct agent of the Western Union Money Transfer Service. The bank is bringing this range of products into the mega bank that will emerge with the consolidation of the group. Market analysts said the Intercontinental group with its cutting edge services, huge asset base and tested management now has better prospect of making greater returns to shareholders. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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