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Access Holdings targets 100m retail business customer acquisition drive by 2027

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Access Holdings Plc says it is working towards ensuring that its customer acquisition drive hits 100 million for its retail business by 2027.

This was contained in a document containing Access Corporation’s 5-year strategy, released today (Tuesday) through the Nigerian Exchange’s website.

Freedom Post reports that the banking group noted that it will achieve the target even as the majority of its customers are migrated to digital platforms by 2027.

In line with the strategy, Access Holdings said it expects to be in at least 26 countries by 2027, including at least three countries within the Organization for Economic Co-operation and Development (OECD), whilst supporting trade in United Kingdom, France and the United States of America.

“The customer acquisition drive to hit 100mn for the Retail Business by 2027 will continue, as we migrate the majority of customers to digital platforms by 2027 across all touch points.

“Our primary focus on trade is to leverage established presence across trade and financial hubs across the world to continue driving trade outputs Presence in London, Dubai, Hong Kong, Lebanon, Beijing, Mumbai etc. and extensive footprint across the Continent,” the company said.

The group said with the launch of the subsidiary, Access Holdings would be supporting intra-Africa trade, adding that in partnership with some DFIs, Hydrogen would be responsible for payment across the continent.

“It will be focused on two main customer groups – financial institutions (including Access bank, Tier-2 Banks, and Fintechs) and Merchants/SMEs.

” Hydrogen will offer products across three main business lines, Card servicing: credit, debit and prepaid Merchant payment solutions ‒ POS ‒ e-commerce, Switching, and Direct card routing.

” Digital-led low-cost customer acquisition strategy from four main sources: Access Bank and its existing customers, Ecosystem partners and Fintechs through digital partnerships & alliances, Hydrogen sales team, AA-powered digital marketing (pull model) and International expansion,” the Group said.

Meanwhile, the Group Managing Director, Access Holdings Plc, Mr Herbert Wigwe has disclosed at the Statutory Meeting of the shareholders of Access Holdings recently in Lagos that the Holding company in its bid to become Africa’s gateway to the world is set to launch a new company called Hydrogen.

“We share the fact with you that we wanted to be known as Africa’s gateway to the world. What that meant was that we are going to be responsible for payments across the entire continent, irrespective of where you are and where you’re transferring money from. We will support intra-African trade, which is a big problem today.

“The bank cannot do this alone because this is very specialist skills and it will allow us to be able to ensure that there are settlements even in countries where we don’t have a physical presence. The idea is that wherever you are in the world if you’re making a transfer to anybody across the continent, one out of every three transactions that come into the continent will be settled on Access Bank’s platform,” Wigwe said.

He, however, assured shareholders that though the business would generate commissions and fees it would not lead to significant credit risk.

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