Interswitch Honours FirstBank for their 100 Million monthly transactions.

First Bank of Nigeria was recognised by Interswitch Group  as the first financial institution in the country to achieve sustained transaction volumes of 100 million transactions, first in December 2015 and again in May 2016.

A statement from the bank explained that the record transaction volumes represented the total transactions processed by FirstBank’s Front End Processor running on the Interswitch transaction switching platform which links all financial institutions in Nigeria to facilitate better and quicker transactions across all platforms.

With over 12 million customers’ accounts, the bank stated that the feat aligned with its strategic intent to promote financial inclusion, support the cashless policy drive of the Central Bank of Nigeria and boost economic growth via e-payments across Nigeria and the African continent.

According to the Bank’s Group Head, e-business, Chuma Ezirim, FirstBank remains committed to lead the drive to move the Nigerian economy away from traditional cash and other generic payment means to modern technological varieties in e-Payment.




Excerpts from ThisDay