Allstates Trust Strengthens Western Union Services

Date: Monday, September 20, 2004

Allstates Trust Bank has boosted its Western Union Money Transfer services with the installation of an independent telecommunications system consisting of Satelite Earth stations and micro wave radio links designed to provide reliable on-line,real time verified banking services in all the bank's branches across the country.

With this development the bank is now poised to offer its unique Western Union Money transfer services to its teeming customers across the country through its 65 branches.

The Western Union Money Transfer services is the fastest, easiest and convenient way for those living abroad to send money to loved ones in Nigeria. It was established in 1851 in the United States initially as a telegraph company but has since evolved into a global money payment and receiving super market, specialising in international money transfer, bills payment and other prepaid services. Western Union has over 170,000 locations in over 190 countries including Nigeria.

Allstates Trust Bank joined the Western Union family as a full agent to provide In-bound and domestic money transfer services in March 2004. Already 50 of the bank's branches have started handling these services while payments are made in currency of choice.

In less than six months of its franchise as principal agent, Allstates Trust Bank is fast emerging as a market leader in the provision of inbound and domestic money transfer services. This is as a result of the bank's strategic management thinking and the use of cutting edge technology to offer prompt and convenient services. Allstates pioneered the development of Electronic Banking in Nigeria with the introduction of our Electronic Smart Card Account (ESCA). The ESCA system enables you transfer/load money value of any amount up to N16 million electronically onto your own personalized smart card and also allows you to collect/withdraw cash from the card at any Allstates' branch. It also enables cardholders purchase goods and pay for services at designated merchant outlets. Outlets include hotels, restaurants, supermarkets, petrol stations, etc. The ESCA payment system uniquely has the software advantage of being adaptable to suit any payment system or loyalty scheme demanded by customers, organisations parastatals and governments.

The smart card brings higher levels of security and flexibility to banking and creates new opportunities in the area of providing 24 hours banking services, eliminating the risk of handling cash and improving service delivery.

This has been facilitated by the introduction of Automatic Teller Machined (ATMs), Unattended Loading Devices (ULDs) and Thyron Mobile Bank Teller Terminals. The ESCA payment system also offers the features of being used as Identity Cards, Access Cards and Salary Payment Instrument.

Other services and products offered by the bank are: Allcash card- an electronic purse desighned for students in both secondary and tertiary institutions; Allstates premier Access- a personal computer banking product which enables the customer an easy interlink to their account within the bank.; and the Allstates money market account- a product designed for people with high balances in their account.

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