First City Monument Bank (FCMB) Limited is set to launch its
first Flexx Hub, an exclusive banking arena for its youth customers who
hold a Flexx account. The flagship Flexx Hub is located at Lagos University
Teaching Hospital, popularly called MediLag and the bank has unveiled a
week-long launch event which began on Monday July 18, 2016 with
exciting and fun activities to culminate in the Grand Opening of the Flexx Hub
this Friday, July 22, 2016.
With a rich and deep content format hardly seen before now,
the Flexx Hub Launch Week will feature a line-up of activities including
appearances by popular celebrities, such as music artistes, DJs, photographers,
Radio On-Air-Personalities, personal finance planners, entrepreneurial coaches
and much more. In addition, there will be music, dance, game shows and talent
contests, where participating youths will get a chance to win a daily
Smartphone prize and stand a chance to win the Grand Prize of a Hyundai
Veloster in the ongoing Flexx Promo.
Speaking on the Flexx Hub launch and what makes Flexx
different from the generic offering for young people in the Nigerian Banking
space, the Divisional Head, Retail Banking at First City Monument Bank (FCMB),
Mr. Olu Akanmu said,
Flexx is not just an account but a lifestyle platform that
offers a customer experience centred around Fun, Future and Banking. The tripod
of ‘FFB’ is served through digital channels that fit into the lifestyle of the
Flexx target market which include the Mobile App, a Microsite and an Online
Account Opening platform, all of which allow a potential Flexx customer open an
account with FCMB without having to visit a branch. What the physical structure
of the Flexx Hub brings to the table is a further simplification of
banking as we know it and a place for young customers to breeze through those
unavoidably physical banking transactions, while enjoying access to free extras
such as wifi, charging ports etc. Ultimately, the goal is to demystify and
remove the rigours of banking, so that members of the youth market are happy to
come "Flexx @ The Hub" whenever the need arises. This is the first
Flexx Hub we are opening, with many more to be opened in campuses across Nigeria
before the end of 2016".
FCMB’s Flexx proposition is targeted at young people who are
actively seeking platforms which allow them to express their uniqueness, while
building skills for financial success. A youth-centric banking product, Flexx
is designed to meet the overall financial needs of young people within the age
range of 18 and 35 years, where and how they want those needs met. This is
summarized in the description of Flexx as “An app. A card. An account”, which
gives account holders the freedom to bank on the go using the Flexx Mobile App.
The Flexx card makes it convenient for them to withdraw cash, make payments
online and on Point-of-Sale machines, as well as access exclusive discounts and
freebies from Flexx partners. In addition to all of these,
Flexxersget access to relevant fun and lifestyle information, as well as
entrepreneurial tips, guides and events that help them build skills needed to
achieve life aspirations and survive in the real world. This interesting
departure from the common market offering gives the account holder a unique
opportunity to “flexx” (a popular expression which means to “show off”) and
express a lifestyle that will be the envy of their peers who do not have a
Flexx account.
While responding to why FCMB is investing so heavily in
banking solutions that foster youth capacity building, the Group Head,
Corporate Affairs of the bank, Mr. Diran Olojo said,
"The youth segment is critical to our success as a retail
brand. We are positioning FCMB as a youthful, vibrant and accessible brand and
this segment is instrumental in harnessing that positioning for various
reasons, including the population size in comparison to other segments, being
about 42% of Nigeria’s population, reference to a National Bureau of
Statistics’ report. In addition, we believe our differentiated approach with
the Flexx account of focusing not just on fun and lifestyle, but also on their
future and helping them develop the skills they need to succeed as
entrepreneurs and business people is something that is attractive to the youth.
This is a very important aspect in helping them to prepare for a successful
future."
Mr. Olojo said the Bank is focusing on the opportunity to
develop sustainable relationships with the youth segment, even though they may
currently have little disposable income.
"Our investment in this segment in the short term is to
onboard them as early adopters and provide them with a platform that encourages
sustainable self-development as we partner them through various life cycles
into adulthood", the FCMB brand custodian, concluded.
First City Monument Bank (FCMB) Limited is a member of FCMB
Group Plc, which is one of the leading financial services institutions in
Nigeria with subsidiaries that are market leaders in their respective segments.
Having successfully transformed to a retail and commercial banking-led group,
FCMB expects to continue to distinguish itself by delivering exceptional
customer experience, while empowering its customers to achieve their
aspirations.
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