Mtn and Diamond Introduces Diamond Y'ello Account!

With the name "Diamond" and also the name
"Yello", Mtn and Diamond has come in
collaboration and launched Diamond Yello
Account .
What is Diamond Yello Account all about
Diamond Y’ello Account is an easy to open
hybrid bank account in which any MTN
subscriber can open by just dialing *710 # on his
mobile phone and make deposit or withdrawals
through network agents across the country.
A customer who is in with Diamond Y’ello
Account, account holders can transfer money
from a Y’ello account to another yellow Account
or to other banks, make cash withdrawals from
an agent, ATM or bank. They can also buy
airtime , pay utility bills such as PHCN, payTV
subscription etc.

Whats the News Behind this Diamond Yello
Accounts
When the officials of the different group were
speaking at the launch during the weekend in
Lagos, the Group Managing Director (GMD) of
Diamond Bank , known as Alex Otti , personally
noted that only 40 million Nigerians out of the
170 million population are holding an account
with the bank. He also included that the
innovation would increase financial inclusion of
the unbanked by taking banking to those who do
not have access and consequently contribute to
economic development.
We also qoated his words,“Less than 40 million
have account. It shows a lot are excluded from
access to finance. there is no way a country can
develop without access to finance.
We want to take banking to people who ordinarily
will not have access to banking.”

After the speaking of the managing director of
Diamond Bank, MTN’s CEO Mike Ikpok added
that the Diamond Yello financial service which
he said offers MTN’s 58.4 million subscribers a
fusion of financial services and telecom
incentives, will increase access to banking to the
unbanked, while pro oppopportunity.