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Vbank identifies digitisation, virtual banking as pathway to profit for businesses after COVID-19


In a recent of such interviews on Wazobia TV, key insights on how to do business profitably in this new global reality have been discussed at length; especially the part Vbank is actively playing to ensure businesses and the society at large is stronger.

During the recent programme on Wazobia TV, the Managing Director of VFD Microfinance Bank, Mr Zubby Emodi set the tone of his discussion with his chat centred on two points; admonishing the public on the responsibility to protect oneself from cyber thieves and the assurance of utmost safety of customer funds with VBank.
The key learning from his interview was that money is not housed in a phone but sits in an infrastructure that protects it and that it is the structure of the bank that carries the money. He went further to say that‘’the same facilities available to a customer when he/she walks into a physical bank are available on the virtual app which makes up the features of the bank, features are savings account, target savings, loan requests, current account, and fixed deposit at 10% interest’’
He went on to emphasise that VFD has positioned itself to be a major player in ensuring that Nigeria meets Its 2020 Financial Bank Inclusion targets. And according to Emodi in another recent interview with CNBCAfrica to make that possible, the bank has set in motion some integration going on with the telcos, but that there’s also a USSD code *5037# that allows customers to perform transactions without data. In his words ‘All of these efforts especially for virtual banking, is meant to return power to the customer”

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Akinola Olusegun is a blogger and publisher of this blog, You can also check out his other blogs : (videos & news), (e-commerce), (news) among others. Follow him via any or all of his social media pages to get fresh posts update.

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