FCMB Introduces Mutual Funds Access Feature on Its Mobile App to Boost Investment Inclusion

First City Monument Bank (FCMB) has unveiled a new feature on its mobile banking app that enables customers to conveniently invest in mutual funds directly from their smartphones. The innovative addition is designed to simplify investment processes, encourage savings, and promote financial inclusion among Nigerians by providing easier access to wealth-building opportunities.

The bank, in a statement announcing the launch, explained that the new service would allow users to explore, subscribe to, and monitor a variety of mutual fund options from different asset management companies without visiting a branch. The initiative aligns with FCMB’s commitment to leveraging digital technology to empower individuals and businesses to achieve financial security and long-term growth.

According to FCMB’s Managing Director, Mrs. Yemisi Edun, the introduction of the Mutual Funds Access feature demonstrates the bank’s continuous drive to make financial products more accessible, transparent, and user-friendly. “At FCMB, we are committed to simplifying the financial journey for our customers. This new feature gives users control over their investments, enabling them to grow their wealth with convenience and confidence,” she said.

Edun noted that the new digital offering was developed in response to customers’ growing demand for diversified investment tools. She added that the platform allows investors to compare multiple funds, analyze performance histories, and choose products that align with their risk appetite and financial goals. “We believe that technology should not only make banking easier but also help people make smarter investment decisions. With this innovation, our customers can start small and gradually build a portfolio that suits their lifestyle,” she emphasized.

Through the app, users can now invest in different types of mutual funds such as equity, money market, fixed income, and balanced funds, depending on their preferences and risk tolerance. The app provides a detailed description of each fund, including minimum investment amounts, expected returns, and fund managers’ track records.

The Head of Digital Banking at FCMB, Mr. Diran Olojo, explained that the feature was designed to eliminate traditional bottlenecks associated with investing in mutual funds, such as complex paperwork and in-person verification. “This service is fully digital. From registration to payment and monitoring, customers can complete the entire process seamlessly on the FCMB mobile app. It’s part of our mission to make investment inclusive and stress-free,” he said.

Olojo also highlighted that the new offering would empower young professionals and first-time investors to begin their investment journeys with ease. “Many young people find investment intimidating due to lack of information or accessibility. We’re breaking that barrier by providing an intuitive platform that guides them every step of the way,” he added.

Financial experts have lauded FCMB’s innovation, describing it as a major step toward democratizing investment opportunities in Nigeria’s financial sector. With mutual funds traditionally seen as a product for high-net-worth individuals, the bank’s decision to integrate the service into its mobile app marks a significant shift toward inclusivity.

Economic analyst, Dr. Bamidele Akinyemi, commented that FCMB’s approach could redefine how retail investors interact with financial products. “By digitizing mutual fund access, FCMB is lowering the entry barrier and helping to build a culture of investment among Nigerians. It’s an essential step for increasing the country’s savings-to-GDP ratio and deepening capital market participation,” he stated.

The initiative also supports the Central Bank of Nigeria’s (CBN) vision of enhancing financial inclusion through digital channels. With more Nigerians using mobile banking apps, FCMB’s innovation could attract millions of users into the formal investment ecosystem, fostering a savings and investment-driven economy.

Customers who wish to access the new feature simply need to update their FCMB mobile app to the latest version. Once logged in, they can navigate to the “Investments” section, select “Mutual Funds,” and browse through a curated list of available funds. The process includes a secure payment gateway, and customers can track real-time updates on their investment performance directly from their dashboard.

The service is supported by top fund managers and regulated by the Securities and Exchange Commission (SEC), ensuring that users’ investments are safe and transparent. FCMB also stated that it would continue to partner with reputable asset management firms to expand the range of investment products available on the app.

In addition to the mutual funds feature, FCMB has over the years introduced several digital solutions aimed at simplifying financial transactions. These include automated savings plans, instant loans, bill payments, and investment advisory services. The bank’s growing focus on digital transformation aligns with its goal of becoming the leading customer-centric financial institution in Nigeria.

Mrs. Edun reaffirmed that the launch is only one of many steps in FCMB’s long-term digital strategy. “We are building an ecosystem where every Nigerian, regardless of background or income level, can access the tools they need to achieve financial independence. With this innovation, we’re not only expanding investment access but also empowering a new generation of financially savvy citizens,” she said.

The new development has been widely praised by customers who see it as a convenient way to manage their savings and diversify income sources. Early adopters have reported satisfaction with the app’s simplicity, transparency, and the ability to monitor returns without external brokers or intermediaries.

In conclusion, FCMB’s introduction of Mutual Funds Access on its mobile app represents a major leap in Nigeria’s digital banking and investment landscape. It bridges the gap between traditional banking and modern financial inclusion by giving customers direct access to investment opportunities at their fingertips. As more Nigerians embrace digital solutions for wealth creation, FCMB’s innovation could become a model for other banks aiming to integrate financial literacy, technology, and inclusive growth into their service offerings.