United Bank of Africa (UBA) Plc is set to build a new generation of loyal
customers with its new suit of products tailored to meet the unique needs
of teenagers and young adults.
The product “Next-Gen” account, which was launched at Intercontinental
Hotel on Monday, is basically a suit of personal current accounts designed
to offer special privileges and opportunities to account holders.
Though the product is designed as a current account, holders have the
opportunity of automatically being enrolled for savings accounts as well.
Speaking at the launch of the Product, Femi Olaloku, Executive Director,
Treasury and International Banking who represented the bank’s Group
Managing Director and Chief Executive Officer, Phillips Oduoza said “Next
Gen is about capturing and engaging the next generation of educated and
enlightened professionals, employees, entrepreneurs, self employed
persons, from all walks of life, early in their financial life cycle.”
The UBA Next-Gen Account is designed to appeal to the educated and
enlightened teenager and young adult from ages of 13 to 34. The product
comes with features that fit into the unique needs of customers based on
their age.
“This is a product that grows with the customer from his or her teenage
years to when he or she becomes a young adult. Next Gen is unique in the
banking industry because it is not really a product. It is a partnership
where the bank is taking on a mentorship role to guide customers into a
future life of prosperity.” Olaloku explained.
He also said that the Next Gen account has been designed to take care of
every young person’s unique needs from when he or she first breaks into
his or her teenage years at 13 to when he or she is on the border of full
adulthood at 34.
“It takes care of the unique needs of teenage customers when they are in
secondary school through university to when they get their first job,
start a family and even consider building their first house. At each of
these critical stages in their lives, the Next Gen account provides
financial options and opportunities to make life more comfortable for
them and their family.”
Breaking down the unique features of the Next Gen account, Iyke Idukpaye,
Head, Current Accounts and Credit Products, UBA Plc explained that
Teenagers who open a Next Gen account will become part of the UBA Teen Fan
Club, which offers great opportunities and great networking.
He also explained that as teenagers with a Next Gen account grow and gain
admission into tertiary institutions, they will enjoy great mentorship,
internships and career advisory reserved only for account holders.
The benefits of being a Next Gen account holder extends further as account
holders graduate and prepare for the world of work and business. At this
stage, account holders will enjoy exclusive invitations to job and career
fairs as well as entrepreneurship workshops.”
Account holders will also have access to 24 hour online banking services
on UBA’s highly acclaimed internet banking platform besides other
privileges like specially branded Mastercard, interest bearing savings
accounts, career advisory, scholarships, work place experience schemes
with the UBA Group, entrepreneurial skills development workshops and
social media engagements.
Students from different secondary and tertiary institutions attended the
launch event. Aina Oyawande, a student of University of Lagos, commended
UBA for introducing the product saying the incentives attached will make
her open an account with the bank.
Falz, a musician, who addressed the students on the need to imbibe a
savings culture, described Next Gen as a “great initiative” which will
attract young entrepreneurs like him to open an account with UBA.
Also Ebuka Obi-Uchendu, of big brother fame called the product
“innovative” saying that it was great that UBA has developed such an
incentive packed product for the youths.
The UBA Group is a highly diversified financial services provider, with
business offices in New York, Paris and a subsidiary in London. A leading
player on the African continent, UBA has significant market share and
operations in 19 different African countries. The Group has a strong
retail franchise across the continent offering its more than seven million
customers a bouquet of products and services tailored to meet their
different financial needs.