FCMB Streamlines Wealth Building with Mutual Fund Access on Mobile App
First City Monument Bank (FCMB), a key subsidiary of FCMB Group Plc, is empowering customers to grow their wealth directly from their smartphones. The bank has introduced a new feature on its mobile application, allowing users to effortlessly open investment accounts and invest in mutual funds managed by FCMB Asset Management, the wealth management arm of the Group.
Simplified Investing for a Digital Age
This launch underscores FCMB Group’s commitment to digital transformation, strategically integrating its diverse business verticals into a unified financial ecosystem. The initiative aims to provide customers with a seamless experience for banking, investing, and growing their wealth. Through the mobile app, customers can now easily access FCMB Asset Management’s diverse portfolio of mutual funds. Options include the Legacy Money Market Fund (low-risk), Legacy Equity Fund (growth-oriented), Legacy Debt Fund (primarily local-currency bonds), and the Legacy USD Bond Fund (dollar-denominated investments). This variety caters to different investment preferences, whether seeking short-term liquidity, long-term capital appreciation, or dollar-based assets.
FCMB’s move reflects a growing trend in the African fintech landscape, where banks are leveraging mobile technology to democratize investment opportunities and make wealth creation more accessible to a wider audience. By simplifying the investment process, FCMB is empowering its customers to take control of their financial futures.
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