Access Bank has reiterated its commitment to helping Nigerians create intergenerational wealth by deepening the savings culture among the Nigerian working-class population.
This was disclosed during the recent presentation of the prize to the DiamondXtra season 16 winner in Lagos. The first of three SUVs was presented by the bank to Uche Onyemaechi Modestus, DiamondXtra Season 16 car winner.
Robert Giles, senior retail advisor, retail banking, at Access Bank, said that the bank is trying to encourage the transfer of intergenerational wealth through savings.
Giles stated that the bank is doing this because of the importance attached to creating a culture of savings, adding that the bank is leveraging DiamondXtra and other products to grow its savings book.
He added that it is important that banks grow their savings book to lend more to customers.
He highlighted that DiamondXtra has been rewarding customers since 2008, in what is probably one of the country’s longest-running reward programs. “It started in Diamond Bank and we committed that as part of the merger back in 2019, we would keep all of the products that our customers loved, including Diamond Extra.”
Njideka Esomeju, group head, of consumer banking, at Access Bank, said the bank is making savings more interesting with life-changing prizes that allow customers to enter for the draws monthly.
Esomeju said that customers have been rewarded with all kinds of prizes in the last 16 years. She disclosed that sometimes customers are rewarded with cash prizes. “But our customers also told us that they want much more than just cash.
“They want life-changing experiences. So, as the years progressed, we changed the type of rewards we gave based on surveys we do, to find out what the clients want. So for us, this is a very important product, because it’s a hybrid of savings and current accounts,” she added
