It was a historic moment at the weekend when Skye Bank Plc,
one of Nigeria’s largest retail lenders, unveiled a new digital banking
solution called SkyeXperience.
The solution which was developed in collaboration with
Oracle Corporation, the world’s leading computer technology company, has been
described by financial technology experts as a game-changing innovation that is
poised to put industry competitors in the digital catch-up mode.
A statement from the bank’s management yesterday said
SkyeXperience is a robust platform designed to deliver Omni-channel user
experience across multiple devices, as well as boost its digital
competitiveness objective which is projected to grow Skye Bank’s e-payment
enabled customer base to over 2 million by end of 2018.
During the unveiling, the Chairman of Skye Bank, Mr.
Mohammad Ahmad described the launch of SkyeXperience as “a timely intervention
in the banking industry and a modest contribution towards the economic
development of Nigeria, especially in the area of financial technology and
digital evolution”.
The chairman also thanked the Central Bank of Nigeria (CBN)
for leading the way to the future through its e-payment System Vision (PSV
2020).
The vision is expected to ensure that majority of Nigerians,
irrespective of their social status, embrace e-channels as a primary and
convenient means of their daily transactions, said the statement.
In his address, the bank’s Group Managing Director/CEO, Mr.
Tokunbo Abiru said the development was a display of the bank’s commitment to
its valued customers who have continued to not only do business with the bank,
but have also challenged it on how best to serve them.
“As a pledge of commitment to a new service charter with our
customers, we have decided to render to you this digital banking solution,
which we have called SkyeXperience denoting such positive values as:
experience, excellence, excitement and experiential,” he said.
Senior Vice President, Oracle Financial Services Mr. Chet
Kamat, heralding the launch of SkyeXperiance, stated: “In a dynamic digital
landscape, banks need to compete for customer attention by continuous
innovation.
“Oracle and Skye Bank have been associated with each other
for over a decade. Oracle’s solution, Oracle Banking Digital Experience, built
on open standards architecture helps drive a digital-first proposition,
accelerating Skye Bank’s digital journey and delivering greater flexibility,
and mobility to their customers.”
Chief Information Officer (CIO), Skye Bank Mr. Richard
Amafonye described SkyeXperience as “a new and unique Omni-channel digital
banking solution, which is a response to shifts in customer behaviour and
preferences. It is one of the results of our long standing work with Oracle on
our strategic technology re-platforming initiative”.
Jost Hoppermann, a UK-based Technology Consultant and former
Director of Architecture, DG Bank – the third largest Bank in Germany – in one
of his presentations on innovative banking software, listed among others, the
differentiators of Omni-channel banking solutions to include: customer
experience and business capabilities delivery, noting that solutions with
multiple differentiators are best suited to help banks win, serve, and retain
customers.
Payments through electronic channels are fast gaining
traction in Nigeria. This is evident in the data on volume and value of
transactions that have been done through the channels in recent times.
According to the National Bureau of Statistics (NBS), the
total value of electronic payment transactions in the banking system stood at
N65 trillion in 2016, while the total volume of electronic payment transactions
was put at 910,186,115 transactions in the same period.
The CBN has said that attaining the e-Payment System Vision
2020 (PSV 2020) would be the catalyst to revolutionise the payment system in
Nigeria.
According to the statement, the key value proposition of
SkyeXperience is that its Omni-channel capability would help to simplify
service delivery and personalise customer experience.
It would enable enhanced security of transactions and
empowers customer self-service.
Using the SkyeXperience, customers can now perform such
transactions as: setting up standing transfer instructions to family members,
transferring money to distant relations or business partners, opening of new
accounts and requesting for and stopping of debit cards.
They can also conveniently view and monitor all their
accounts activities simultaneously.
Customers of the bank who attended the unveiling ceremony
acknowledged that SkyeXperience will further support Skye Bank’s branch
footprint across the country, as customers especially SMEs can now make
hassle-free transactions across distant locations.
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