LAPO to prioritise financial services to unbanked Nigerians

LAPO Microfinance Bank (MFB), has expressed its resolve to prioritise the provision of financial services to people who are currently excluded to boost inclusion.
   
The Managing Director of the bank, Goodwin Ehigiamusoe, said the bank is poised to expand its footprints across Nigeria, to capture those who are currently excluded from the mainstream financial system.
   
Speaking at a Customers’ Service forum organised in collaboration with World Savings and Retail Banking Institute (WSRBI), in Lagos, recently, the bank said it would focus more on the provision of credit facility to enable it deepen financial inclusion in Nigeria.

Ehigiamusoe said: “What we are doing at this moment is to show that we can deepen our culture of engagement with people at the bottom end of the society in a manner that they are satisfied with our services and we are able to retain them.
   
“For the past four years, we have created alternative channels, which are basically technologically-led to deliver financial services to our clients; in addition to the traditional means we have been doing it over 30 years.”

He said there is need for the bank to deepen its  culture of engagement with people at the bottom end of the society in a manner that they are satisfied with their services and remain with the bank.
   
He continued: “What we are doing presently is to see how we can institutionalise our customer-centricity, which is basically putting the customer in the centre of our transaction . 
   
“We decided to come together to do some analysis of where we are in terms of customer relationship and how we can enhance customer relationship.  
   
“It is important because we want to ensure we serve our clients better and create value for them and at the same time retain them to make value to us as a business entity,” he added.
   
On how to tackle the issue of loan default in the bank, he said the bank has develop appropriate strategy to ensure mitigation of risks associated with default in lending.
   
“Default is a fact of lending; we have been able to develop appropriate strategy to ensure that we mitigate risks of default in lending. We have not completely eradicated possibility of default but we have been able to manage it.”

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