7 Benefits of using Digital Banks in 2021

Digital Banks

The digital revolution in banking that started with most traditional banks offering their customers high-quality web and mobile websites/Apps has now grown to become an alternative approach where digital is now not just an additional feature but a fully integrated mobile experience with customers using their smartphones or computer tablets to do everything – from opening a new account and making payments, to resolving transaction issues, all without ever setting foot into a physical branch of a bank.

This has made banking very seamless and convenient, and many Fintech companies have jumped into this train with several offers and features to catch both those with conventional bank accounts with traditional banks, as well as the unbanked population (those without access to banks) in Nigeria.

Whether you are already all in on digital banking or still considering whether or not to sign-up with a digital Bank in Nigeria, here are some of the best reasons to bank digitally in 2021.

  1. Business efficiency

Not only do digital platforms improve interaction with customers and deliver their needs more quickly; they also provide methods for making internal functions more efficient. While banks have been at the forefront of digital technology at the consumer end for decades, they have not completely embraced all the benefits of digital technology to accelerate productivity; which is where digital banks come in. The adoption of full digital approach by Fintech companies means that they are able to run their business and serve customers more efficiently unlike traditional banks.

  1. Convenience

The flexibility to bank wherever and however you want is one of the main benefits of digital banking solutions. Our smartphones and computers are typically readily available to us, allowing 24/7 access to our digital bank account to handle any banking transaction quickly. Digital Banks, for instance, allow you to send money to any bank account in Nigeria, buy Airtime, pay your Cable TV subscription, create a savings plan for a particular purpose at a good interest rate, invest your money at a very good ROI, receive payments from any bank account, etc. The possibilities are amazing!

  1. Better rates and lower fees

With Digital Banks, you get a better service at lower charges. You don’t get all those unnecessary charges you get from your conventional Banks. Also, Interest rates on savings and investments are quite mouthwatering and encouraging. For instance, Ceepass Digital Bank charges very little fees for its services, and interestingly offers one of the best interest rates on savings and investments in Nigeria.

  1. Increased accuracy

With the use of digital technology, Digital banks have drastically reduced errors associated with banking operations. They can handle millions of transactions with very little human error because everything is automated with technology. This improves accuracy in operations with less errors/issues.

  1. Better Customer Experience

Digital Banks use digital technology to automate normal banking activities, thereby speeding up both external and internal processes, both of which improves customer satisfaction, hence using digital banks for your banking operations guarantees you a better customer experience and satisfaction.

  1. More Control

Having control over your finances with the ability to self-serve is another significant benefit of digital banking, since they give you real-time access to manage and move money as you see fit. Unlike banking in person in banking halls, Digital Banking Apps or websites generally have no restrictions on when you perform banking tasks.

  1. Enhanced security

Security is one of the top concerns of many Nigerians regarding the use of Digital Banks. It is true that security threats exist everywhere, including inside banking halls, but fortunately there are measures to checkmating these threats. Many Digital Banks have taken extra measures to secure the data and funds of their customers.

For example, Ceepass Digital Bank makes you, the account holder to answer some security questions that are unique to you, to prevent an unknown person from accessing your profile without your consent. Also, the Ceepass Mobile App and Website are backed by military-grade digital security.

Ceepass Digital Bank is hosted on Amazon Web Services (AWS) and uses the highest levels of Internet Security, and it is well secured by a robust internet Transport Layer Security/SSL encryption to ensure that your information is completely protected from fraud. Also, it uses a powerful blockchain security system to secure users’ account against hackers. Ceepass is now the most secured Internet Banking Platform in Nigeria.

It has been reported that digital payments and e-wallets actually offer more security in some cases than a physical ATM card, giving some users even more reason to use digital banking tools.

Moreover, electronic transactions are more secure (you aren’t carrying cash), they’re better from a cleanliness standpoint (you aren’t touching cash) and you can track what happens with your transaction electronically.


The truth is that the benefits of using digital banks far outweighs any disadvantage you can think of. And as a bonus, I’d like to add that Digital banking offers a host of important benefits for customers that can make your live easier and better.

For instance, some Digital Banks like Ceepass give you easy access to investment opportunities that help grow your money while you focus on other things. There is really no reason not to use digital banks for your banking transactions. You can get started by having an account with Ceepass Digital Bank. In less than 5 minutes you are done. You can get started here.

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