Global finance named Ecobank as the most innovative bank in Africa during the eighth Global Finance annual awards, the Innovators 2020.
The awards honour banks and financial institutions that identify new paths and design tools in finance.
The classes of award comprised of Most Innovative Banks in Africa, Central & Eastern Europe, Asia-Pacific, Latin America, Middle East, North America and Western Europe.
At the virtual awards announcements, the European Editor at Global Finance and Lead, Global Finance Awards evaluation team, Anita Hawser noted that the companies that were recognized at the innovate awards stood apart and that the innovations looked in the context of product or process innovation. She said that the review panel was ultimately concerned with the effect of innovation in terms of addressing a specific need or creating value for customers such as speeding up credit review or lending process for small businesses, enabling companies to remotely deposit cheques without them vising the branches.
According to Anita, these innovators significantly reduce companies cost and time to perform financial tasks and transform customers' business lives by helping them operate more effectively in a challenging business and economic environment.
Ade Ayeyemi, Ecobank Group CEO said: "We are pleased to be recognised as the "Most Innovative Bank in Africa" by Global Finance. This attests to the strength of our brand in multiple countries across Africa, our unique pan-African platform, and our innovative banking products and solutions made possible by the success of our digital transformation journey."
Ecobank is the only bank that has banking operations in 33 African countries, operating a truly integrated African network. The bank has one unified integrated Ecobank mobile banking App that operates seamlessly in all the African countries the bank operated in. The bank has One Ecobank Omni Lite which serves Multinationals and SMEs in Africa, One Rapidtransfer app that breaks down country borders and allows diaspora community send money directly to other people instantly and affordably across Africa and One Ecobank Online banking platform that can be accessed across the African countries it operates in.
The bank has been severally recognized as Best Retail Bank in Africa 2019 at African BANKERS Awards, Best Digital Bank in Africa 2017 by Euromoney Awards amongst others.