Glo M-Banking To Be Launched On 22nd March 2005

2005-03-16 00:00:00 | Viewed 2474 times

Glo Mobile Banking will be launched next Tuesday by Governor of Central Bank of Nigeria (CBN), Professor Charles Soludo. Chief executives of all Nigerian banks, especially, member banks of the Glo M-Banking family are also expected at the event.

Trials of the banking service commenced on February 28, and Globacom says the service is now ready for commercial launch. This unique service will provide all Glo Mobile banking customers swift and easy access to their bank accounts from their mobile phones within Glo coverage area.

With the Glo M-Banking service, subscribers can check their bank account balances, view the last five transactions on the account, transfer funds from one account to the other in the same bank, and recharge a Glo prepaid line all directly from their Glo Mobile phones. They will no longer need to remember keywords or short codes.

Bank officials say this is the first time in Nigeria that one single application will provide a uniform interface to a multitude of banks.

Offered in collaboration with InterSwitch, Nigeria's premier e-payment switch, Glo M-Banking offers subscribers access to real-time personal banking information and saves time and money.

At the moment the service is live in 16, top rated, high end banks. They include First Bank Nigeria Plc, Guaranty Trust Bank, Zenith Bank, Afribank, Oceanic Bank, Wema Bank and Chartered Bank.

Others include, Platinum Bank, Prudent Bank, Standard Trust Bank, Universal Trust Bank, Bond Bank, Gulf Bank, National Bank, First City Monument Bank and United Bank of Africa (UBA).

Other are Continental Trust Bank, Diamond Bank, EIB International Bank, Equitorial Trust Bank, Magnum Trust bank, Union Bank and Acess Bank

To access the service, the subscriber is required to register for the service at any of the participating banks that holds the account of the subscriber. A subscriber can request for the service by filling up the Glo M-Banking request form. Upon successful activation of the service, he/she will receive a welcome SMS on the mobile phone informing him/her that the M-Banking service has now been activated.

To access this service, subscribers need the PIN issued by the bank. If he already has a debit card, the debit card PIN automatically serves as the PIN required to access the M-Banking service.

To use the facility, the subscriber is required to select "check balance" on the Magic Plus menu, enter the bank code and select the account he wants to check. For security reasons, the subscriber is required to enter his PIN number. To use this facility, subscribers will be charged N40 each for each transaction except recharge for Glo Prepaid account, which is free. All transactions are charged on "a per request" basis

Although some banks currently run SMS based mobile banking services, the present offering by Glo Mobile has many advantages over what is currently available. Glo M-Banking is not only menu driven, which makes it user friendly, it is more secure than any other before it. To enhance its security, the service is tied to phone number and PIN and ensures due end to end security on all transactions.

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