Top Nigerian lender, Fidelity Bank Plc has announced the introduction of a new savings campaign in Lagos, as part of concerted efforts to promote the culture of savings amongst Nigerians. The Savings campaign which will ride primarily on digital technologies is one of the many initiatives of the bank aimed at rewarding new and existing customers for their unwavering loyalty and patronage.
Dubbed “Get Alert In Millions (GAIM) Season 4”, the savings promo is expected to run till April 2020, a duration of six months and will see customers cart away a total of N120 million in cash prizes. Speaking at a press conference heralding the commencement of the promo in Lagos, the Bank’s MD/CEO, Nnamdi Okonkwo pointed out that the campaign is the ninth in the series of savings promos organised by the Bank in last 12 years to incentivise its customers.
Okonkwo who was represented by the Executive Director, Shared Services & Products (EDSS&P), Chijioke Ugochukwu pointed out that the campaign seeks to reward customers for their loyalty and patronage. Whilst the savings promo is targeted at a cross section of customers, Chijioke noted that the Bank apart from using traditional channels will utilise digital platforms such as its Quick Response (QR) code and Virtual Assistant to reach unserved areas.
Giving insight into the rationale behind organising this initiative, Okonkwo noted that savings promos remained an integral part of the Bank. He asserted that the promo was focused on reaching out to the unbanked population across the nation.
“We embark on campaigns like this to drive financial inclusion in line with the financial inclusion strategy of the Central Bank of Nigeria (CBN. This savings promo allows us to take banking services to the nooks and crannies of Nigeria.
“It also gives us an opportunity to promote a savings culture which is critical to building up investible funds for individuals and companies and a key component of Gross Domestic Product (GDP) growth”, she added.
Stating that the lender remained on course to achieve its strategic objective of becoming a tier one Bank by 2022, the MD explained that building a robust and solid saving volumes for the institution was a critical pillar to attaining the aforementioned target.
However, Nnamdi Okonkwo, in his opening remark at the bank’s corporate head office in Victoria Island, Lagos on Thursday, October 3rd, 2019, said; “The Representatives of the National Lottery Regulatory Commission (NLRC), Representatives of the Consumer Protection Commission (CPC), Colleagues in Management, Staff Members, Valued Customers, Gentlemen of the Press, Ladies and Gentlemen.”
“On behalf of Management & Staff of Fidelity Bank Plc, it gives me great pleasure to welcome you to the Fidelity Bank Get Alert In Millions Season 4 Savings promo. It will interest you to know that this is the 9th savings promo from Fidelity Bank in twelves (12) years.”
Highlights of Previous Promo Prizes:
• Get Alert In Millions Season 3 Promo: Doled out a total of N110m in cash prizes. (September 2017 to June 2018)
• Get Alert In Millions Promo Reloaded: Doled out a total of N110m in cash prizes. (September 2017 to April 2018)
• Get Alert In Millions Promo: A total of N105m in cash prizes was won by customers (August 2016 to 2017)
• Save 4 Shelter Savings Promo: 3 Duplexes located in Abuja, Lagos & Port Harcourt; N35m cash in form of rent support. (Aug.2015 to April 2016)
• Save 4 Scholarship Promo: N80 million worth of Scholarship was won. (2014 to 2015)
• Cars & Cash Savings Splash: 25 Hyundai Accent Cars and total of N25 million were given out to commemorate our 25th anniversary. (2012 to 2013)
As with previous exercises, we are using this savings campaign initiative to reward our teeming customers for their loyalty and patronage. The phrase ‘It pays to save with Fidelity Bank’ has become deeply entrenched in the minds of the people and this savings campaign will in no small measure aid the growth of that consciousness.
This promo encourages customers and members of the public to imbibe a savings culture, thus deepening financial inclusion, in line with the mandates of the Central Bank of Nigeria (CBN). There is no gain saying that the mobilization of domestic savings is indeed crucial for raising economic growth.
As an active participant in the Nigerian economy, we are supporting the federal government by making savings available for critical infrastructure deployments that would aid national development.
Ladies and Gentlemen, we are unveiling this unique savings promo to the general public on the back of an impressive half year results for 2019, where Fidelity Bank delivered a solid financial performance in the first half of 2019, recording double-digit growth in key revenue lines whilst achieving significant traction in digital banking uptake.
Digital Banking has continued to gain traction driven by new initiatives in retail lending segment and increased cross-selling of its digital banking products. We now have 45.0 percent of our customers enrolled in the bank’s mobile/internet banking products, 82.0 percent of total transactions now done on digital platforms and 29.0 percent of fee-based income now coming from digital banking.
Retail loans grew after the launch of our new digital lending product dubbed Fidelity Fastloan. In addition, Fidelity Bank is deepening lending partnerships with select Financial Technology (FinTechs) companies.
This promo further underlines once again our determination to improve the standard of living of Fidelity customers. Despite the uncertainties in the Nigerian economy, GAIM Season 4 is our little way of rewarding our customers for their unflinching loyalty and steadfast devotion to the brand.
A total of N120 million plus consolation prizes will be given out to customers during the promo. The promo will also encourage digital banking as customers on boarded through our digital platforms will be rewarded with various amount of airtime in addition to the cash wins.
Below is the promo dynamics:
Monthly Draw:
- Customers to top up existing Savings account with incremental of N10,000 to qualify for monthly draw to win cash prizes of N2m, N1m.
- New customers to open accounts to qualify for draw to win N2m, N1m and consolation prizes of TV sets, fridges and generators.
Bi-Monthly Draw:
- Customers to top up existing Savings account with N50,000 and above monthly to qualify for the draw to win Star Prize of N3m
- New customers to open account and grow it to N50,000 to qualify for bi-monthly draw to win Star Prize of N3m
Grand Prize:
Customers to maintain monthly average balance of N200,000 to qualify for draw to win 2 prizes of N10m each.
In all, over 200 winners will emerge inclusive of consolation prizes such as Fridges, Generators, TV sets etc. Furthermore, over 400 customers will also be rewarded with varying amounts of airtime weekly.
In conclusion, I hereby enjoin our friends in the media to this good news to the general public.
Thanking you all for honouring our invitation and witnessing perhaps one of the biggest promos in Nigeria.
