By Jeph Ajobaju, Chief Copy Editor
Zenith Bank, Nigeria’s second most valuable bank by capitalisation, has created wider space for customer engagement through an Artificial Intelligence (AI) powered Chatbot on WhatsApp named ZIVA (Zenith Intelligent Virtual Assistant).
ZIVA enables its customers to perform financial transactions and enjoy real-time service from their mobile phones.
They can enrol by simply adding the bank’s verified WhatsApp mobile number 0704 000 4422 on their mobile devices, agree to the legal terms of use and then initiate a conversation.
This product provides the convenience for Zenith Bank customers to interact and transact on a 24-hour basis on the encrypted WhatsApp platform.
Zenith Bank was the first Nigerian company to have a functional website in 1995, it then smoothly migrated its operations from analog to digital, and has since remained at the forefront of using tech to provide first class customer service.
It has been named the Best Commercial Bank in Nigeria in the World Finance Banking Awards 2021 for evolving technological environment, maintaining top-class customer relations, and bolstering financial footing amid the pandemic.
The award piles on several others the bank has amassed in recent years, many of them won back to back in a Nigerian banking sector that is highly competitive for standout brand, robust capital base, customer numbers, and profit.
The latest garland was announced in the July 2021 edition of the World Finance magazine.
Functions of ZIVA
With this new capability to respond to chats/queries anchored on the existing WhatsApp platform, Zenith Bank customers will be able to, among other services,
· Open new accounts
· Receive instant transaction notifications
· Check their balances on the go
· Transfer funds and top up airtime
· Confirm cheques
· Pay bills
· Apply for loans
· Block their accounts
· Request mini statements
“The launch of ZIVA is driven by the need for additional secured channels of communication with our customers as we deepen our retail penetration,” said Zenith Bank Group Managing Director/Chief Executive, Ebenezer Onyeagwu.
“Since the behavioural pattern of the modern customer dictates that they want to engage with brands over the channel of their choice, it was really important for us as a leading financial services institution and a pioneer of several technological innovations in the financial services industry to implement this solution in order to continue to create value for our teeming customers who incidentally were already using WhatsApp as a primary channel of communication.”
Standing out
Zenith Bank distinguishes itself in the Nigerian financial services industry through superior service offerings, unique customer experience, and sound financial indices.
It is a clear leader in the digital space with several firsts in the deployment of innovative products, solutions, and an assortment of alternative channels that ensure convenience, speed, and safety of transactions.
Its commitment to world-class service standards has led to several product innovations, including
· Zenith Timeless Account – allows those aged 60 years and above bank for free
· Zenith Save4me – a high-interest target savings account
· Contactless payments and QR on ATM points
Zenith Bank places a premium on its core business strategy anchored on People, Technology and Service, to create value for its numerous clientele.
It says its team of dedicated professionals helps it to leverage robust Information and Communication Technology (ICT) infrastructure to provide cutting-edge solutions and products through a network of branches and electronic/digital channels.
Recent awards
The award Zenith Bank got in July builds on several others and on its recognition in recent years for excellent performance and commitment to global best practices.
Among other awards, Zenith Bank won
· Best Bank in Nigeria in the Global Finance World’s Best Banks Awards 2021
· Best Corporate Governance ‘Financial Services’ Africa 2021 by the Ethical Boardroom
· Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2021
· Number One Bank in Nigeria by Tier-1 Capital in the “2021 Top 1000 World Banks” Ranking by The Banker magazine
· Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020
· Best Bank in Nigeria in the Global Finance World’s Best Banks Awards 2020
· Best Corporate Governance ‘Financial Services’ Africa 2020 by the Ethical Boardroom
· Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020
· Bank of the Decade (People’s Choice) at the ThisDay Awards 2020
· Retail Bank of the year at the 2020 BusinessDay Banks and Other Financial Institutions (BOFI) Awards
· Best Company in Promotion of Good Health at the Sustainability, Enterprise and Responsibility (SERAS) Awards 2020
· Best Company in Promotion of Gender Equality and Women Empowerment at the Sustainability, Enterprise and Responsibility (SERAS) Awards 2020
Digital banking space leader
Zenith Bank distinguishes itself in the Nigerian financial services industry through superior service offering, unique customer experience, and sound financial indices.
The bank remains a clear leader in the digital space with several firsts in the deployment of innovative products, solutions and an assortment of alternative channels that ensure convenience, speed, and safety of transactions.
Zenith Bank is the most profitable bank in Nigeria where it is the second most valuable bank by market capitalisation, and is known for being one of the best Corporate Governance Financial Services in Africa.
Its market value currently stands at N747.24 billion.
Its most recent result shows it is well-positioned for more upsides as the Tier 1 bank posted a Q1 2021 Profit Before Tax up 4 per cent year-to-year (y/y) to N61 billion on the back of a 5 per cent y/y growth in pre-provision profits.