DIAMOND BANK INTRODUCES MAGIC CASH

Diamond Bank is set to excite its customers with Magic Cash, another value-added service that will give accountholders access to its Automated Teller Machines (ATMs).

Magic Cash works with the mobile phone; it is a no-cheque, no-withdrawal slip and no-debit card financial transaction that gives customers easy access to draw cash from any of the bank’s ATMs anytime. It relieves customers the burden and frustration associated with the sudden loss or misplacement of the debit card and gives seamless access to their respective accounts to pay bills, make withdrawals and transfers.

Speaking on the new product, Ayona Trimnell, Divisional Head, Corporate Communications stated that the introduction of Magic Cash will revolutionize financial transactions in Diamond Bank and the financial industry generally, as the unique service removes the burden, frustration and hassle that customers go through when they are in dire need of cash to meet emergencies but could not lay their hands on their debit cards or any of the instruments that would give them access to their funds.

“With Magic Cash, you have unhindered access to draw cash from your account or other transactions. We are pleased to introduce this revolutionary service in Diamond Bank.”

Speaking further, she stated that with the introduction of this innovative solution to the Nigerian banking space, Diamond Bank once again demonstrates its commitment to be at the forefront in offering technological solutions that make banking an exciting, convenient and secure experience for customers.

According to her, all that a customer need to do to access cash is to “send ATM to 30811 from the registered mobile phone number in any of the mobile networks that is maintained on the account and the transaction magic code will be generated for seamless access to any of the ATMs in the country”.

The Bank earlier in the year, introduced the Touch ID Feature on its Diamond Mobile App, a fingerprint reader that allows users of the Mobile App an easy and seamless login to their accounts by simply recognizing and identifying their individual fingerprints.  With these technological innovations, Diamond Bank has consolidated its position as the most innovative Bank that is progressively changing the face of banking in Nigeria with best-in-class customer-focused solutions.

Diamond Bank, MTN Launch Diamond Y'ello Account

Leading retail bank, Diamond Bank PLC, has launched an innovative banking product, Diamond Y’ello, as part of its financial inclusion programme to reach the unbanked.

The Diamond Y’ello Account (DYA), which is run in partnership with mobile telecommunications giant, MTN Nigeria, is a hybrid account that offers the over 58 million MTN subscribers a fusion of financial services and telecoms incentives such as money transfer and withdrawal, account statementsconfirmation andairtime purchase amongst a host of available features and benefits.

Speaking at the launch of the account, Dr Alex Otti, GMD/CEO, Diamond Bank PLC, said the Diamond Y’ello Account is part of the bank’s strategic programme to reach the unbanked population with innovative and easily accessible financial solutions.

According to Dr. Otti: “The Nigerian banking industry is over a hundred years old, but can only boast of only about 40 million bank accounts. In the 14years of mobile telephony in Nigeria, the telcos have grown a robust subscriber base of 120 million customers and still counting. That is why we decided to partner with one of the trusted and most extensive networks to bring our banking services closer to people who would like to bank with us but are limited by challenges within their environment.

Explaining the rationale, Dr. Otti explains further: “What we have done is to make banking more accessible to Nigerians. To open a Diamond Y’ello account, a customer only needs to have a registered MTN line and by dialing the short code *710#, the subscriber gets a full NUBAN account number delivered by SMS to his mobile phone within minutes”.

The Diamond Y’ello Account is open to all. The Youth and Mass Market segments of the MTN subscriber base as well as the unbanked and under-banked subscribers are especially invited to take advantage of the favourable account opening requirements and convenient features of the service.”

Speaking at the event, CEO of MTN Nigeria, Mike Ikpoki disclosed that the Diamond Y’ello idea is driven by a commitment from Diamond Bank and MTN to ensure that technology is used to make life easier for people.He said: “Technology is a tool that should make life easier for people. This product is simple and accessible to all customers on our network.” Lending his support to the partnership, Dr. Pascal Dozie, Founder, Diamond Bank Plc and Chairman, MTN Nigeria, said that Diamond Y’ello is a hybrid account produced by two outstanding companies in their separate industries.

He said: The partnership between Diamond Bank PLC and MTN Nigeria is in support of government policies. The Diamond Y’ello Account will strengthen the cashless policy of the Central Bank of Nigeria. It will also provide gainful employment for Nigerians and other stakeholders.”

Every MTN subscriber hasaccess to a Diamond Y’ello Account with benefits which include: easy access to open and operate a bank account through the subscriber’s mobile phone or agent network within the customer’s community, full bank services with interest payments on account balances and fund transfer services to any bank account in Nigeria.

DIAMOND BANK URGE MSME OPERATORS TO MAINTAIN HIGH STANDARD FINANCIAL MANAGEMENT

L-R: Nnamdi Ezeigbo, Chief Executive Officer, SLOT Systems Limited; Aishah Ahmad, Head, Retail Banking, Diamond Bank Plc; Ogechi Chuma Otteh, CEO, One Centre Limited; and Nkem Okoro, Regional Manager, Festac  Region, Diamond Bank Plc at the Diamond Bank 58th  MSME BusinessxXpress Seminar held in Lagos recently

Diamond Bank Plc has urged entrepreneurs of Micro, Small and Medium Enterprises (MSMEs) to internalise the values of financial discipline and strict corporate financial management in the running of their respective companies, in order to sustain the rapid growth and development of the sector.   

The Bank stated during its 58th Edition of the Diamond BusinessXpress Series in Lagos that the only way that MSMEs could scale the current economic headwinds, gain the confidence and active support of the financial services sub-sector, is to manage and grow the finances of their respective businesses by adhering strictly to high corporate standards.   

Aisha Ahmad, Head, Retail Directorate of the Bank told MSME stakeholders at the event that financial stability and sustainable growth for entrepreneurs in MSME in the country is not achievable if standards of financial management is lowered, pointing that most MSMEs are likely to have chronic financial problems when personal financial discipline is relegated.    .

“The BusinessXpress Seminar is the initiative of Diamond Bank Plc, which aims to cater for the business and financial well-being of our customers and indeed, interested players in the MSME sector of the economy…. Sustainable growth and development of the sector has a lot to do with the individual’s financial discipline and management of the businesses. When standard is not followed, problems are bound to come up and stifle the growth of the business.”

Drawing from their personal experiences, the resource persons took turns to shed light on the benefits of adhering to financial management principles and maintaining high standard of financial discipline. 

The CEO of Slot Systems Limited, Nnamdi Ezeigbo, stated that building trust with target customers and business partners is a key factor in growing any business. According to him, adapting to the changing business environment and ensuring that the taste and demand of the customer is met, are very fundamental to sustainable business growth.

He said: “One of the factors that we took very seriously while growing the Slot brand was the adaptability factor and for us, this simply means understanding our market, our operating environment (the culture) and what exactly the consumers want at any particular time. You need to identify when consumers’ tastes change so as to address the attendant challenges.”

Reiterating Ezeigbo, Ogechi Chuma-Otteh, MD/CEO, One Centre Providence, stressed the importance of keeping a good working relationship with banking officers to enable easy access to useful information and financial products that would help in growing one’s business.

“Diamond Bank is an SME friendly bank. My banking officer is involved in my business and plays an advisory role when it comes to managing my finances. So if your bank is not doing anything to help grow your business, please I advise you, dump them.”

Adegboyega Adebajo, CEO West Atlantic Resources and Equity House (WARE House) Ltd, took participants through Nigeria’s business environment identifying crude oil sales, power sector reforms, stability of the new government and infrastructural development among others as the key drivers of Nigeria’s Gross domestic Product (GDP). 

Other speakers at the event include Alexander Ibekwe, SME Segment Manager, MTN and Olusegun Sosimi, Assistant Director, Federal Inland Revenue Service (FIRS).

Diamond Bank has remained the leader in promoting MSME as the engine of sustainable growth and development in Nigeria’s economy. Among other numerous awards, the bank was awarded by the Nigeria-British Chamber of Commerce, the Best SME Friendly Bank in Nigeria in 2015 and the Best SME Bank in West Africa by the Banker Africa Magazine.

MAGIC CASH: '' WITHDRAW WITHOUT ATM''

Have you ever been caught up in a situation where you need to withdraw money and you forgot your ATM card ? Well, worry no more because with Diamond Magic cash you can withdraw from any Diamond Bank ATM. 

Diamond Magic Cash* is a card-less service that empowers you to use Diamond ATMs without your debit card.

How It Works

• Register for this service at any of our branches or call our Contact Centre on 0700-300-0000
• Text ATM to 30811 from the registered mobile number maintained on your account to generate a six digit magic code
• Go to any Diamond Bank ATM and select the Magic Cash option
• Enter your registered mobile number with prefix +234
• Enter the six digit Magic Code you received on your registered mobile number
•  Create and confirm your Magic PIN (4 digits) and proceed to transact (you will need to create the Magic PIN during the first transaction alone as you will only have to key it in for subsequent transactions).

 

Feel The Magic

Simply walk up to any Diamond ATM, feel the magic and share the magical experience with your family and friends. It’s safe and secure!

For enquiries, please call our Contact Centre on 0700-300-0000, send an SMS to 30811 or email us at enquiries@diamondbank.com

Thank you for choosing Diamond, your Bank.

*Magic Cash is only available to Diamond Bank customers.