UBA Unveils New Aggregator Framework to Expand Financial Access Through RedPay Network
Elegbede Abiodun
United Bank for Africa (UBA) Plc has introduced a revamped Aggregator Sales Structure for its RedPay POS terminals and agency banking operations, marking a significant advancement in the bank’s drive to expand financial inclusion across Nigeria.
The enhanced framework was launched at the inaugural UBA Aggregator Engagement Session held at the bank’s Lagos headquarters on Tuesday. Under the theme “POS-itive Impact: Connecting Agents, Merchants, and Customers,” the event brought together industry aggregators, POS partners, and network managers to align strategies for scaling the UBAMONI Agency Banking ecosystem.
Emmanuel Lamptey, UBA’s Executive Director Designate for Digital Banking, highlighted the importance of strategic partnerships in achieving broader financial inclusion goals.
“This session represents a crucial milestone in our mission to democratize financial access in Nigeria. By strengthening our relationships with aggregators and partners, we’re building an ecosystem that brings UBA’s services directly to communities and ensures reliable financial solutions reach everyone,” Lamptey said.
In his keynote address, Shamsideen Fashola, UBA’s Head of Digital Banking, explained the strategic vision behind the new structure.
“Aggregators are central to our goal of creating Africa’s most effective digital collections network. This framework offers scalability, transparency, and mutual rewards, equipping our partners with the technology and support needed to boost agent productivity and effectively serve underserved populations,” Fashola explained.
The new platform offers comprehensive benefits to both agents and aggregators, including instant settlement processing, reliable transaction handling, real-time dashboard reporting, and a complete service suite covering dispute resolution, terminal management, analytics, card withdrawals, bill payments, and pay-with-transfer functionality.
Aggregators gain access to a structured system for recruiting and managing agents within UBA’s network, competitive incentives and commissions, and a dedicated Aggregator Admin Portal that provides real-time insights into agent performance and transaction data.
Adetunji Iyiola, UBA’s Head of Agency Banking, emphasized the customer-focused nature of the initiative, noting that it strengthens collaboration among the bank, merchants, and agents.
“This launch creates superior value for all stakeholders while improving service delivery to customers. Our partners receive the tools and incentives they need to succeed, reinforcing our commitment to delivering essential banking services where they’re needed most,” Iyiola stated.
The aggregator framework positions UBA as a leader in developing innovative digital financial solutions that bridge the financial inclusion gap and promote economic empowerment across Africa.
UBA ranks among Africa’s largest financial sector employers with 25,000 staff members serving over 45 million customers worldwide. The bank operates across 20 African countries, the United Kingdom, United States, France, and United Arab Emirates, providing retail, commercial, and institutional banking services while advancing financial inclusion through cutting-edge technology.
