The product "Next-Gen" account, which was launched at
Though the product is designed as a current account, holders have the opportunity of automatically being enrolled for savings accounts as well.
Speaking at the launch of the Product, Femi Olaloku, Executive Director, Treasury and International Banking who represented the bank's Group Managing Director and Chief Executive Officer,
The UBA Next-Gen Account is designed to appeal to the educated and enlightened teenager and young adult from ages of 13 to 34. The product comes with features that fit into the unique needs of customers based on their age.
"This is a product that grows with the customer from his or her teenage years to when he or she becomes a young adult. Next Gen is unique in the banking industry because it is not really a product. It is a partnership where the bank is taking on a mentorship role to guide customers into a future life of prosperity." Olaloku explained.
He also said that the Next Gen account has been designed to take care of every young person's unique needs from when he or she first breaks into his or her teenage years at 13 to when he or she is on the border of full adulthood at 34.
"It takes care of the unique needs of teenage customers when they are in secondary school through university to when they get their first job, start a family and even consider building their first house. At each of these critical stages in their lives, the Next Gen account provides financial options and opportunities to make life more comfortable for them and their family."
Breaking down the unique features of the Next Gen account, Iyke Idukpaye, Head, Current Accounts and Credit Products,
He also explained that as teenagers with a Next Gen account grow and gain admission into tertiary institutions, they will enjoy great mentorship, internships and career advisory reserved only for account holders.
The benefits of being a Next Gen account holder extends further as account holders graduate and prepare for the world of work and business. At this stage, account holders will enjoy exclusive invitations to job and career fairs as well as entrepreneurship workshops."
Account holders will also have access to 24 hour online banking services on UBA's highly acclaimed internet banking platform besides other privileges like specially branded
Students from different secondary and tertiary institutions attended the launch event. Aina Oyawande, a student of
Falz, a musician, who addressed the students on the need to imbibe a savings culture, described Next Gen as a "great initiative" which will attract young entrepreneurs like him to open an account with UBA.
Also Ebuka Obi-Uchendu, of big brother fame called the product "innovative" saying that it was great that UBA has developed such an incentive packed product for the youths.
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