Lagos — In a bid to top the industry in electronic transactions, Union Bank of Nigeria PLC has signed on a consortium with the world-renowned electronic banking guru and co-inventor of Automated Teller Machine (ATM), Mr. Jack Chang, as lead consultant.

According to the Group Managing Director/Chief Executive, Mr. Barth Ebong, who signed the services agreement, on behalf of Union Bank, noted that the Bank was very pleased to partner with members of the consortium to satisfy the yearnings of its customers, locally and internationally.

He said the product would ensure that Nigerians continue to enjoy unhindered access to integrated quality financial services by the Bank, both at home and abroad, and also, complement the 21 new products recently launched into the market and specifically developed to meet expectations and needs of the customers and potential ones.

Mr. Ebong stressed that the Bank was still the best bank to bank on and remained the most capitalised in the country. He was excited that customers would enjoy a product that will integrate them into the world financial community.

In his remarks, Mr. Ravi Sundaram, Managing Director of ElectraCard Services Limited and a member of the consortium, said the importance of the project was to get the Bank into the most modern electronic banking in the world, which will position it to play a leadership role in the emerging new payment initiative.

The scheme, he also stated would enable the Bank to issue debit cards to people residing within and outside the country as well as develop a system that facilitates retail spending and infusion of money into Nigeria for economic development.