Get Guardian on GoogleFirst Bank of Nigeria Limited on Tuesday intensified efforts to deepen digital banking adoption among young Nigerians, with plans to expand its round-the-clock Digital Xperience Centre (DXC) to more university campuses across the country.
The initiative comes amid growing efforts to expand digital financial services, improve access to banking and encourage technology-driven financial inclusion, particularly among Nigeria’s youthful population.
The bank’s Managing Director/Chief Executive Officer, Olusegun Alebiosu, disclosed this during the inauguration of a FirstBank Digital Experience Centre at Yakubu Gowon University, formerly the University of Abuja.
Alebiosu said the initiative was designed to bring banking services closer to students and other members of university communities while reducing dependence on conventional banking halls.
He said the facility would enable customers to carry out virtually all conventional banking transactions independently, 24 hours a day, seven days a week.
The FirstBank chief executive said the bank was particularly interested in bringing Generation Z and younger customers onto its digital platform, arguing that their growing dependence on mobile technology would reshape the future of banking.
According to him, customers can deposit cash, pay in cheques, withdraw money, update account details, change phone numbers and email addresses, obtain account statements and print ATM cards without assistance from bank tellers.
He explained that the centre would eliminate the restrictions associated with conventional banking hours, allowing students to access financial services even at midnight, during weekends and public holidays.
Alebiosu said: “Our primary objective is to move customers onto our digital platform and enable them to carry out transactions digitally, 24 hours a day.
“These young people have grown up using mobile phones to carry out virtually everything. They increasingly need convenient digital platforms and accessible centres where they can obtain banking services.”
He explained that the facility at Yakubu Gowon University would serve an estimated community of more than 40,000 people, including residents of surrounding neighbourhoods who also access banking services within the area.
He described university communities as strategic environments for expanding digital banking, noting that students were increasingly comfortable with technology and mobile-based services.
On concerns about cybersecurity and possible fraudulent activities associated with digital transactions, Alebiosu said the bank had deployed multiple layers of security authentication, including facial recognition, fingerprint biometrics and one-time passwords.
Speaking at the inauguration, the Vice-Chancellor of Yakubu Gowon University, Professor Hakeem Babatunde Fawehinmi, said the facility would address the longstanding absence of a comprehensive commercial banking service on the university campus.
Fawehinmi said the centre would provide students and staff with access to international-standard banking services while improving their overall campus experience.
He described the facility as a one-stop banking centre where students could open accounts, obtain ATM cards, deposit and withdraw money, and carry out other transactions at any time.
According to him, the initiative would particularly benefit students who regularly receive financial support from their families and transfer money to friends and relatives.
Fawehinmi said: “Before now, we did not have a proper commercial banking facility on campus. However, with the establishment of this Digital Xxperience Centre, our students and staff will begin to enjoy international-standard banking services within the university.
“This development will make a significant difference because, as we all know, our students are very digitally savvy. They will benefit immensely from the facility, which will enhance their overall learning experience, campus life, and access to banking services.
“From what I have seen today, this is a facility our students genuinely need. It provides a one-stop banking solution where they can open accounts, obtain ATM cards, deposit and withdraw money, and access other services 24 hours a day.”
He said the university management and FirstBank had taken proactive measures, including round-the-clock security surveillance, to protect the investment and ensure its sustainability.
