Access Holdings: Pioneering customer-centric innovation in financial technology

Established in 2022, Access Holdings Plc has rapidly emerged as one of the key players in the African financial services industry, owing to its key strategic pillars of innovation and customer experience led by technology.

With its operational base in Lagos Nigeria, Access Holdings currently manages a network of over 700 branches and other service points across three continents, and 22 countries, and boasts over 60 million customers.

The financial conglomerate employs over 28,000 and is listed on the Nigerian Exchange Limited.

With various subsidiaries offering a diverse portfolio of financial services, while leveraging cutting-edge technological solutions that target precise market segments, the Holdco is a strong force to contend with within Africa’s financial space.

Access Bank: Africa’s Banking Gallery

At the centre of Access Holdings operations is Access Bank, one of the leading Tier 1 banks in Nigeria, with a strong presence in Nigeria and Africa.

Access Bank has consistently demonstrated its commitment to being customer-centric by leveraging advanced technologies to improve service delivery, enhance customer experience, and drive financial inclusion, making it the go-to bank for traditional banking services and more.

Beyond this, the bank offers tech-driven solutions like Mobile Banking Applications, Online Banking Services, Innovative Payment Solutions, Artificial Intelligence and Chatbots, Data Analytics for Personalised Services, amongst many others.

The bank’s digital-led services allow customers to perform a wide range of transactions and financial operations seamlessly from their smartphones regardless of their location. A prime example is the Access More App, offering features such as Funds Transfer, Bill Payment, Account Management, Card Services, etc.

PayWithCapture, Contactless Payments, an AI-powered chatbot called Tamara, Fraud Detection Systems, Two-Factor Authentication (2FA), etc. are only a few of the many ways through which Access Bank is blazing the trail to a tech-accelerated financial experience for its customers. All of this is central to the bank’s vision to become one of the five leading banks in Africa by 2027 by revenue and asset size.

Access Pension: Innovative Retirement Solutions

Access Holdings understands the heterogeneity of the needs and aspirations of the market it serves. This is why it is big on catering to the peculiar and diverse needs of the market.

For the customer whose need is a guaranteed retirement solution, Access Pensions Limited provides innovative retirement savings plans and pension fund management services.

This subsidiary incorporates the use of technology in the provision of pension management services, where clients can track their retirement pensions and make the right investment decisions. Such a client-oriented approach helps to keep clients engaged and well-informed while providing them with the tools to guarantee the best possible financial outlook for their future.

Hydrogen: Delivering Digital Payments

On the menu of Access Holdings’ buffet of holistic financial services is Hydrogen Payment Services Company Limited, a digital payment solutions and financial technology services subsidiary, responsible for developing and managing the digital platforms that support Access Bank’s online and mobile banking services.

Hydrogen plays a critical role in enhancing the customer experience and expanding Access Bank’s reach across different markets, while also facilitating seamless transactions for individuals or businesses and supporting the integration of new digital financial services as they emerge. Hydrogen ensures that such service platforms improve the value that is delivered to customers through the provision of effective and secure applications that can support multiple market transactions from various markets.

By linking these services to other service verticals, Hydrogen places Access Holdings right in the middle of digital financial services innovation.

Oxygen: Digital Lending Solutions

Oxygen, another major operating unit of Access Holdings, focuses on digital lending solutions, primarily targeted at retail customers and MSMEs.

Using data analytics and financial technology, Oxygen provides customised investment and lending solutions that address the needs of individuals and businesses alike. Oxygen aims to provide digital lending solutions to a broader market beyond existing banking customers, making it more accessible to users who may not have accounts with Access Bank. This is borne out of Access Holding’s commitment to being customer-centric and providing a one-stop shop for all financial services.

Access Insurance: Tailored insurance solutions

Following a successful acquisition of Megatech Insurance Brokers earlier in 2024, Access Insurance Brokers Limited is next in the Holdco evolution as a globally connected community of ecosystems inspired by Africa for the world. As a subsidiary of Access Holdings, Access Insurance is strategic in expanding the company’s tentacles into other areas of the financial services industry, strengthening its position and ensuring that it continues to meet the needs of its customers.

Access Insurance leverages technology in designing and providing intelligent solutions that mitigate the unique risks individuals and businesses face in an ever-evolving market​, using comprehensive risk management tools and governance standards.

With service offerings across life, health, property, casualty, business, and commercial, amongst other insurance solutions, Access Insurance ensures that clients receive the most relevant coverage at competitive rates.

With a tech-led and customer-focused approach, Access Holdings continues to demonstrate its ability to adapt to changing times by striving to meet the evolving needs of its customers. The Holdco is redefining the African financial services market system with its technological and consumer-oriented strategies.

The integration of the varied business verticals under Access Holdings creates a seamless financial services ecosystem, where customers use a single door to manage their pensions, make digital payments, get insurance cover, or invest in wealth management products, all the same time, under the same roof.

Not only does this afford customers some exciting levels of convenience and satisfaction, but it also drives sustainable growth for the company, while also solidifying its position as a leading force in the global financial landscape.

.Adewoye is a senior content writer, writes from Lagos