Under the strategy, the bank plans to focus on deepening its retail offering with much emphasis on the use of digitals and increased collaborations within the country and to a lesser extent other African countries. Speaking on how to deliver the strategy, in Lagos yesterday, the Group Managing Director, Access Bank, Herbert Wigwe, explained that the bank would adopt a new organisational structure where the retail banking will become customer based, driven by healthy digital and payments solutions.
The corporate banking is expected to leverage on deep sector expertise and deploy global relationship managers. According to him, the subsidiaries will be organised around strategic clusters, with strong collaboration between them to secure trade finance and correspondent banking.
He added that the bank’s transformation programme would be underpinned by robust risk management with high levels of automation to enhance the compliance and risk functions and drive customer insights.
Furthermore, he explained that the global collaborations would centre on crucial gateway market to enable the bank to provide correspondent banking to customers and remain a dominant player in intra African payment segment. To support the payment framework, Wigwe pointed out that the bank would further create a universal payment gateway, which will be sustained by strong technological platform. "We have global gateway market and this gateway markets typically are within the U.S., the Hong Kong, London and Japan. By being presence and creating the arrangement in this market, what it means is that you can support corresponding banking across Africa easily.
(Guardian)
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