" ITREALMS: Commentary: Bank 737: A simple technology innovation

Tuesday, March 29, 2016

Commentary: Bank 737: A simple technology innovation

In the age of digital revolution, it is the very simple technological innovations that often have the most transformative impact on people and the society. Foremost financial institution; Guaranty Trust Bank plc has once again set a new standard in electronic banking services with the introduction of Bank 737.

Introduced by GTBank, Bank 737 offers a very simple banking alternative which remarkably does away with virtually all of the limitations of not just conventional banking (going to a bank branch for banking services), but also online banking. While conventional banking requires the physical presence of the customer at a bank branch, and online banking demands Internet access and a mobile application, banking via 737 requires none of the above. Bank 737 is a true test of simplicity.

GTBank customers no longer need to bother about data or internet connection as the service is built on a USSD interface which enables it work on any type of mobile device. Users are required to simply dial the short USSD *737# from any mobile phone to get started.

GTBank’s 737 offers a wide range of banking services, from money transfer to card less withdrawal, bill payments, airtime recharge and even unique services like token pin generation, checking the status of cheque book request, retrieving internet banking details, amongst others. It is not just about the wide range of services available on the 737, but how the services are delivered; by simply dialing *737# on any mobile phone.

If the simplicity of the Bank 737 is amazing, its speed is even more so. Transactions using the 737 take less than a minute to conclude, meaning it is even quicker than online money transfer. It gets even faster with the availability of short access codes. Among these are *737*0# for account opening, *737*7# to generate token code, *737*37*Amount*Smart Card No# to pay for Star Times Subscription and so much more. 

Backing up its simplicity and speed, is its security. The customer is the only one who can access the 737 services for his or her GTBank Account because it only makes use of the mobile number that is linked to the account. Bank 737 also requires customers to personally sign off all their transactions by providing the four last digits of your GTBank Naira MasterCard. 

“We have seen remarkable success in the volume of transactions via the Bank 737, and this is largely due to the simplicity of the platform and the convenience that it affords our customers,” said Segun Agbaje, the Managing Director of Guaranty Trust Bank plc. “The introduction of Bank 737 marks another milestone in our quest to make banking truly simple for our customers. We remain firm in our objective to delivering banking products and services tailored to meet the diverse needs of our ever-growing customer base by leveraging technology to make banking services more accessible, faster and safer for all our customers” he added.
GTBank has consistently played a leading role in Africa’s banking industry. The GTBank brand is regarded by industry watchers as one of the best run financial institutions across its subsidiary countries and serves as a role model within the financial service industry due to its bias for world class corporate governance standards, excellent service quality and innovation. The Bank operates from over 230 branches in Nigeria and has banking subsidiaries in Kenya, Rwanda, Uganda, Cote D’Ivoire, Gambia, Ghana, Liberia, Sierra Leone and the United Kingdom.

*Adekunle Olushola wrote in from Lagos

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