FCMB Introduces Paperless, Cardless Transactions At Branches, ATMs.

FCMB Group grows profit by 148% to N38.2bn in H1’23

Customers of First City Monument Bank (FCMB) can now seamlessly carry out an array of transactions with just their fingerprints and Bank Verification Numbers (BVNs). This followed the introduction of paperless transactions within the Bank’s over 200 branches in Nigeria. With this innovation, customers no longer require deposit slips, withdrawal booklets, or cheque books to carry out over-the-counter transactions.

In addition, FCMB customers now have the opportunity to enjoy cardless banking experience by just using their fingerprints to withdraw and deposit cash at 575 select biometric Automated Teller Machine (ATM) points of the Bank spread across the country and via biometric Point of Sales (PoS) terminals available within the Bank’s branches.

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In a statement, FCMB explained that to withdraw cash with fingerprint via its biometric ATMs, customers are required to visit any of the 575 select ATMs, and initiate the cardless menu. This is followed by selecting the fingerprint withdrawal option, then precisely indicating the 10-digit NUBAN account number.

Commenting on the introduction of the cardless service, the executive director, retail banking of FCMB, Mr Olu Akanmu, described it as another turning point and milestone in the digital transformation drive of the lender.

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According to him, “The FCMB cardless biometric transaction on ATM is a pioneering innovation in digital banking in Nigeria that provides wider access to ATM usage for many more people who may not have debit cards. It delivers greater financial inclusion. Its biometric identity factor also delivers enhanced security and convenience for customers, taking their digital experience to the next level.”

Also speaking on the paperless over-the-counter transactions, the divisional head, service management and operations of FCMB, Mr Oluwakayode Adigun, said, “We will continue to re-engineer our processes and services by leveraging on emerging technologies and innovation to offer seamless customer experience at all our channels and touch-points.”

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With customer base in excess of six million, over 200 branches spread across Nigeria and upward growth in overall performance, FCMB has consistently upscaled its operations, product and service offerings to empower and delight Nigerians. The Bank’s resolve to create a unique user experience for customers has inspired it to successfully create opportunities, while also supporting their individual and business aspirations in various segments.

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