Financial magazine Global Finance has named Ecobank as the most innovative bank in Africa at the Innovators 2020 annual awards honouring entities that regularly identify new paths and design new tools in the sector.
In a statement, Ecobank Group chief executive Ade Ayeyemi said the award attested to the strength of the company’s brand in multiple countries across Africa, its pan-African platform and innovative banking products and solutions made possible by its digital transformation.
Categories in the awards included top innovations in corporate finance, payments, trade finance, cash management and Islamic finance, with winners selected from different regions of the world.
Innovative bank awards were handed out for the Africa, Asia-Pacific, Central & Eastern Europe, Latin America, Middle East, North America and Western Europe regions.
European editor at Global Finance Anita Hawser said the review panelists were ultimately more concerned with the impact of innovation in terms of creating value for customers or addressing a specific need, like speeding up lending or credit review process for small businesses, enabling companies to deposit cheques remotely and not having to visit branches.
Ecobank has banking operations spanning 33 African countries and was previously recognised as the best retail bank in Africa for 2019 at the African Banker Awards. It also won the award for the most admired financial services brand on the continent from Brand Africa 100.
The banking group employs over 15,000 people and serves about 20 million customers in the consumer, commercial and corporate banking sectors across the 33 African countries it operates in.
Its parent company Ecobank Transnational Incorporated is listed on the Nigerian Stock Exchanges in Lagos, the Ghana Stock Exchange in Accra and the Bourse Régionale des Valeurs Mobilières in Abidjan.