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Ecobank mobile app hits four million users

Alex Lynn | 13:20 Wednesday 4th April 2018

The mobile app of Togo-based Ecobank has reached four million users after its upgraded version secured three million new customers in six months.

So far this year, the mobile app has received an average of 700,000 new customers per month.

The app aims to combat many of the financial inclusion barriers faced by those in Africa, including the dearth of rural branches, affordability of products, high transaction costs and minimum opening balance requirements.

Patrick Akinwuntan, group executive of consumer banking at Ecobank, said: “We want to be the digital bank of choice for all Africans.

“Functionality is one thing, giving our customers unrivalled convenience is another.”

Customers can instantly open an Ecobank Xpress Account through the app without account fees, paperwork or minimum balance requirements.

The platform allows users to send and receive money across 33 African countries.

The Ecobank Xpress Point Agents in local neighbourhoods enable customers to deposit money into their app-based account and begin to make digital payments on the app using Ecobankpay.

The app is available on both the Google Play Store and Apple Store.

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