Diamond Bank Partners WWB to Advance Financial Inclusion for Unbanked

As part of its plan to take banking services to the Unbanked and under-banked segments of the Nigerian population, leading retail bank –Diamond Bank PLC – has met with officials of Women’s World Banking to map out strategies to advance financial inclusion for these segments in the country.
Speaking at the press conference which was held after the meeting, Executive Director, Diamond Bank PLC, Uzoma Dozie said, “For us in Diamond, we are constantly looking at changing the way banking is done; to take the frontiers of banking beyond just saving money to empowering our customers. We are also interested in ensuring that the unbanked and under-banked segments of the society – who are not properly serviced, are adequately catered to and there is no better way to do this than to partner with Women’s World Banking who has done this successfully in a number of countries.”
Mary Ellen Iskenderian, president and CEO of Women’s World Banking said that adding Nigeria to the 28 developing countries where the organisation works in providing access to finance to low-income women is very exciting.
“We work around the world with financial institutions who see the financial and social value in delivering products for Low Income people, particularly women. Diamond Bank with its strong human resources and technological capabilities is an excellent partner to help us reach the population who are unbanked &underbanked,” she said.
Iskenderian also noted that since women in developing countries were usually responsible for managing household budgets, gaining access to a safe means of saving money is often a critical step out of the cycle of poverty for the whole family.
Prior to the meeting, Iskenderian embarked on a road show with officials of the bank to see the BETA Savings Proposition in action.
Currently in the pilot phase, the BETA Savings Proposition is targeted at the UnBanked and Under Banked segments of the market. The proposition boasts of a number of benefits to make banking convenient for market entrepreneurs & traders, especially women who save regularly.
Women’s World Banking is the global non-profit devoted to giving more low-income women access to the financial tools and resources essential to their security and prosperity. For more than 35 years Women’s World Banking has worked with financial institutions to show them the benefit of investing in women as clients, and as leaders.
“We are pleased with the BETA Savings Proposition from Diamond Bank, particularly the concept of the ‘BETA Friends’. The simplicity of the communication and ease of access of the customers to the bank go a long way in ensuring that market women are provided with the vital financial services they require to empower them and their family,” commented Iskenderian