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Stanbic IBTC introduces Nigeria’s first instant online account opening service

Stanbic IBTC Holdings PLC has introduced Nigeria’s first instant online account opening service, in line with its goal of helping to digitize banking in Nigeria for convenience and seamless service delivery.

The one-stop financial service provider said this innovation, apart from expanding its retail banking business, will ensure easy access to millions of prospective banking customers, while driving financial inclusion in the country.

The new service involves an instant and easy account opening process and once a simple form is completed and submitted online, the account holder can instantly access their account and begin to enjoy the full benefits of the accounts in real time.

Executive Director, Personal and Business Banking, Stanbic IBTC Bank, Mr. Babatunde Macaulay, said this innovation as well as other digital and non-digital solutions rolled out recently underlines the importance of providing seamless customer experience to both existing and prospective customers.

“Our appreciation of the need to create access and to continually explore innovative ways of providing world class financial services, when and where our customers want it, is our guiding principle. What we have done is provide our esteemed customers another novel service that meets the demand for prompt and easy access to financial services. Our customers can be reassured that Stanbic IBTC Bank will continue to evolve in anticipation of their changing needs with the aim of helping them move forward,” Macaulay said.

On how to access the service, Macaulay said interested account applicants can visit Stanbic IBTC Bank’s official website (www.stanbicibtcbank.com), complete the simple application process online, and the customer is immediately contacted with feedback and notification of successful on- boarding.

Other benefits of the new service, Macaulay stated, include issuance of debit card, mobile and internet banking, interest earning on savings account, flexibility and opportunity to upgrade account, issuance of cheque book and the opportunity to access credit on the customer’s income while investment account holders also enjoy added benefit of watching their money grow.

“Stanbic IBTC Bank will continue to leverage the expertise of the Stanbic IBTC Group to provide services and products that address the specific needs of our customers,” Macaulay said.

Stanbic IBTC Bank only recently relaunched its integrated mobile application platform, an innovative app that supports a wide array of financial transactions, which was followed by its first self-service digital branch in Lagos, which enables consumers enjoy the convenience and innovation of digital banking.

Stanbic IBTC Bank is a member of Stanbic IBTC Holdings PLC, a full service financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management.

Stanbic IBTC belongs to the Standard Bank Group, the largest African financial institution by assets and earnings. It is rooted in Africa with strategic representation in 20 countries on the African continent.

Standard Bank has been in operation for 154 years and is focused on building first-class, on-the-ground financial services institutions in chosen countries in Africa; and connecting selected emerging markets to Africa by applying sector expertise, particularly in natural resources, power and infrastructure.

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Sacked PHCN Staff Electrocuted while doing illegal Connection

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Sacked PHCN Staff Electrocuted while doing illegal Connection

Sacked PHCN Staff Electrocuted while doing illegal Connection

A former staff of the Benin Electricity Distribution Company BEDC, in Agbor, Delta State, who was dismissed in 2009, was, on Tuesday, electrocuted in Agbor.

According to reports, the deceased, identified as Monday Ebor, was illegally working on high tension lines when electricity was restored.

Eboh who was wanted by BEDC for his illegal activities which destroyed many transformers, was said to be illegally diverting lines from one feeder to another when power was restored.

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United Kingdom Accepting Naira Payments from Nigerian Business Owners

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United Kingdom Accepting Naira Payments from Nigerian Business Owners

United Kingdom Accepting Naira Payments from Nigerian Business Owners

Former President of the Nigerian-British Chamber of Commerce (NBCC)Dapo Adelegan, has announced that the British Government will henceforth begin accepting Nigerian currency from Nigerian business owners in the UK.

Adelegan made the assertion in an interview on Wednesday in Lagos.

The British Government on February 9, through its export credit agency, UK Export Finance (UKEF), said it will accept Naira payments from Nigerian business owners trading with the UK.

Adelegan said that the initiative was a monumental step that will deepen trade, open more opportunities, expand patronage and market scope of products from both countries.

“If we look at the quality of manufactured equipment and technology; Made-in-Britain is number one.

“Through this, we will access technology transfer, boost the capacity of workforce and impact on our outputs of consumables and products in the market.

“It is a win-win situation that will go beyond procurement, as there are multiple layers of benefits that this will bring to the economy,’’ Adelegan said.

Joyce Akpata, Director-General, Nigerian-American Chamber of Commerce (NACC), also said the initiative will ease importation of goods from the UK to Nigeria and strengthen economic ties.

“The UK has the largest concentration of Nigerians in the diaspora and given cultural ties, it is something that should have happened before now,’’ Akpata said.

The director general said the initiative would improve knowledge sharing and technology transfer.

“We will see a lot of businesses in the UK supplying equipment and machinery backed by this finance to their Nigerian counterparts.

“This will enhance the activities of manufacturers, especially the growing SMEs that are into processing.

“It will also take off issues of foreign exchange challenges and instability in the market,’’ she said.

Akpata noted that the scheme would be a welcome opportunity for most Nigerian businesses that could not access financing locally.

She urged other countries, especially the United States, to take a cue from the UK to evolve initiatives that will assist businesses to maximise opportunities and strengthen trade ties.

Trade experts put the value of trade between Nigeria and the UK at about £8 billion, with oil and gas making up 60 per cent of the figure.

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South Africa’s Embattled President Jacob Zuma resigns

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President Zuma must face corruption charges - Supreme court rules

South Africa’s Embattled President Jacob Zuma resigns

The embattled President of South Africa, Jacob Zuma has resigned his office with immediate effect.

Zuma made the announcement in a televised address to the nation on Wednesday evening.

Earlier, Mr Zuma’s governing ANC party told him to resign or face a vote of no confidence in parliament on Thursday.

The 75-year-old has been under increasing pressure to give way to Deputy President Cyril Ramaphosa, the ANC’s new leader.

Mr Zuma, who has been in power since 2009, faces numerous allegations of corruption.

His resignation came at the end of a long speech in which he said he disagreed with the way the ANC had acted towards him.

He said he did not fear a motion of no-confidence, adding: “I have served the people of South Africa to the best of my ability.”

According to President Zuma, violence and division within the ANC had influenced his decision to step down.

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