E-Financial
Aladdin Digital Bank Launches App to Enhance Customer Satisfaction
Aladdin Digital Bank has launched its digital App ‘Aladdin Finance’ that will cater for the banking needs of a wide range of customers, including young professionals and ordinary Nigerians with legitimate endeavours they do for a living.
According to a statement, Aladdin Digital Bank, which is powered by PurpleMoney Microfinance Bank, “seamlessly combines banking and commerce, and supports your hustle by giving you the tools you need to save, borrow, make payments while selling your products and services to other members on the platform.”
The Aladdin App, which was launched recently, and had over 10,000 downloads on Google Play Store as of March 2021, and has been described as a revolutionary app by leading experts in the Fintech industry.
According to Darlington Onyeagoro, the Co-Founder/Chief Executive Officer, Aladdin Digital Bank, the Aladdin Finance App provides a user-friendly platform for customers to process transactions such as paying bills, buying airtime and data, and transferring money to any bank in Nigeria.
The launch of the Aladdin Finance App is targeted at Nigerians who own and operate a smartphone.
However, Onyeagoro added that the bank, through its, “Aladdin Economy,” also provides an avenue for customers who do not have smartphones to access its services. This is in line with its motto as “the bank that supports your hustle.”
“Our team can engage the market women or others in society and help them save their money on the App and help them participate in Aladdin Economy. So, we have our team in different parts of Lagos, as well as other states, to achieve this seamless process,” he said.
Onyeagoro added, “Aladdin is going to be the first Marketplace Digital Bank in Africa to humanize customers. By humanising customers, we are putting a face to the name. You are not just an account number, you are a human being, and as humans, you need to eat, make money and other things.
“Each customer is unique; that is why for the first time, we are breaking barriers so we can reach each one personally. We run a platform structure where every customer has a unique page where their details can search beyond the account numbers.”
Aladdin Finance App can be downloaded on Google Play Store, for Android device owners, with an IOS version underway, for IOS device owners.
To mark the Aladdin Finance App’s launch, the digital bank disclosed that it would also be offering its customer free banking with no charge rates, where customers can carry out their transfers and transactions to other banks for free.
“Traditional banking charge NGN25 per transfer, but we are charging Zero Naira for now. We bear the cost for now. So, we offer free banking for at least between one to three months of our operation to encourage them. All transactions are free for now,” Onyeagoro said.
The app also has several features that will cater to each customer, including seamless customer service, rewards on savings, high interest rates up to 16 per cent (subject to money market reality), and access to different types of loans for emergencies.
Onyeagoro explained: “We have two types of loan on the App; Nano loans and Micro loans. Nano loans are loans between N1,500 to N50,000; while Micro loans range from N50,000 to N1Million.
It all depends on the customer’s need and the kind of documentation that customer has, and their credit ratings. Customers are evaluated and the internal scorecard will determine the loan amount each customer qualifies for.”
To encourage savings for customers to meet their business and personal needs, Aladdin Bank will also be rewarding its customers through a weekly raffle draw on its online platform, where amounts saved from N5,000 and above with the bank will give each customer a virtual ticket for a raffle draw.
According to Onyeagoro, “Every N5,000 is equivalent to one ticket, and N10,000 will give you two tickets. While N50,000 gives 10 tickets for the draw, N100,000 will give 20 tickets.
So, the more you save, the more tickets you have and the more chances you have to win something spectacular for yourself as a customer every Friday. We also provide our customers’ chances to win fantastic prizes on our platform beyond banking with us.
“In that way, we are encouraging our customers to save towards their goals. For example, if you want to travel, pay your rent, children’s school fees, etc., whatever you want to do, you can set targets for yourself and save towards it. So, while you are saving towards your target, we are also paying you a competitive interest rate.”
The sixteenth season of DiamondXtra, a savings and reward account where customers of Access Bank are rewarded with several prizes, have been unveiled in Lagos.
L – R : Doris Okpara, Product Manager, DiamondXtra; Ngozi Igboanugo, Regional sales Manager Festac 1&2 & mainland Access Bank; Bolarinwa Animashaun, Regional Sales Director Lagos 2 Access Bank ; Emeka Ezikeugo, Diamondxtra N200,000 Onsite winner; and Adaeze Ume, Head Consumer liabilities, Access Bank during the launch of Diamondxtra Season 16 held at Alaba International Market Lagos yesterday.
The Season 16th of the special interest yielding hybrid account which allows deposit of both cash and third-party cheques has been upgraded as customers will win prizes to the value of N200 million and three SUVs, amongs other mouthwatering prizes.
Speaking at the unveiling in Alaba International Market, Lagos, Mr Bolarinwa Animashaun, regional sales director, Lagos, said the new season will bring more goodies to the customers as the bank has taken their interest at heart.
“In the last fifteen years, we have been able to ensure customer loyalty, reward committed customers over time and show that we are a bank that is ready to empower people and partner with people.
“If I take it into specific figures, we have rewarded 26,696 customers and we’ve given a total sum of N6.5 billion over the period.
This Season16is interesting, because, we have seen a lot of opportunities to expand into digital opportunities and this time around, we will be rewarding 15,786 customers, and 10,000 of them will be digitally rewarded.
“This is almost half of what we have done over the last 15 years. So that is what is making it special. We have takenit into the possibilities of how technology can expand our business and reward customers”.
The draws for the new season are going to be the same like the previous ones as it will be held in different regions.
“So, we start from the monthly draws, quarterly draws and the annual draws. What makes it extremely interesting this year is that we will be rewarding with up to N200 million in prizes and we have added some very interesting gifts. We will be given out three SUVs as part of the N200 million price for this year”, Animashaun added.
At the unveiling, Access Bank conducted onsite draws where 48 customers who have DiamondXtra accounts and were present at the unveiling won cash prizes ranging from N20,000 to N200,000.
Breakdown shows 40 customers won N20,000 each, five customers won N50,000, two customers won N100,000, while one customer went home with N200,000.
Among winners of the N20,000 prize was Mr Victor Edobor, who said he opened the DiamondXtra accounts 24-hours before the draws.
One of the two winners of the N100,000 prize, Mrs. Maureen Nneka Oforka, said she was surprised to have won at the well-attended event as that was her first time winning any prize.
She said, “I have never won any prize in my life. This is my first. I came here reluctantly and thank God, I am here and I am a winner of N100,000 which has already been paid into my account.
The grand prize winner of N200,000, Mr. Emeka Ezikeugo, a trader in Alaba, said. “I will forever be grateful to Access Bank for the prize as I was not expecting it. I thank the bank for showing leadership among its peers”.
To be part of the winning train and qualify for the DiamondXtra season 16 which is open to both new and existing customers, new customers are required to open a DiamondXtra savings account with just N5,000 by dialling *901*5# or walking into one of our branches to open the account.
However, the more multiples of N5,000 both new and old customers save, the higher their chances of winning at the monthly, quarterly and annual draws.
DiamondXtra is an interest yielding hybrid account which allows deposit of both cash and third party cheques. Hybrid means a combination of both savings and current account features. The DiamondXtra reward scheme has given away over N6.5 billion in cash and household items to over 15,000 loyal customers over the last 15years. Please click HERE to learn more.
Recognising the underrepresentation of women in the technology sector, Lafarge Africa Plc, has launched the Girls in Tech Program, a pioneering initiative aimed at empowering young women in technology.
Meticulously crafted to bridge the gender gap in tech and empower 10 young females between the ages of 18-25 years from Lafarge Africa Host communities in Cross River State, the program is poised to make a significant impact in the region.
The Girls in Tech Program seeks to harness the unique talents of these young women and introduce them to the dynamic world of technology. By providing them with essential skills and opportunities, the initiative aspires to equip them to become self-reliant as well as problem solvers in society.
In collaboration with Aptech and Arena Multimedia,globally recognized leaders in technology incubation and opportunity, as well as The Bridge Leadership Foundation, the boot camp promises to be a transformative experience for the participating girls, who are eager to make their mark in the tech industry.
Speaking during the onboarding to flag-off in Calabar recently, the Plant Manager, Lafarge Africa Plc, Sotirios Valsamakis, who was represented by the Human Resources Business Partner, Lafarge Africa Plc; Barong Ita, revealed that the program was in line with the company’s commitment to diversity and inclusion.
She also added that the initiative is designed to ignite a spark of inspiration, hope, and possibilities in the heart of the selected girls across the host communities.
“As an organization, people are an integral part of our sustainability drive, and we are invested in building lasting progress by empowering members of our host communities. We also recognize the need for greater and greener diversity and inclusivity within the tech sector.”
Today’s event is not just about launching a program. It is about igniting a spark of inspiration, hope, and possibilities in the hearts of these young women. It is about challenging stereotypes.”
Also speaking at the event, the Cross Rivers State Commissioner for Science, Innovation & Technology, Justin Beshel represented by Edwin Adie, Technical Senior Advisor, Cross Rivers State Ministry of Science & Technology commended Lafarge Africa for the initiative adding that it is in line with the State government’s plan towards science, technology and innovation development.
As the country faces economic challenges, the need for adaptive strategies in the fintech industry becomes paramount. In line with this, leading Fintech startup, Hydrogen Payment Services Limited (‘Hydrogen’), has teamed up with Co-creation Hub (‘CcHub’) to host an insightful event themed, ‘Adapting Fintech Business Models to Economic Climes’.
The event, set to take place on Thursday, April 18, 2024, from 12:00 WAT at the CcHub office in Sabo, Lagos, will delve deep into the intricacies of Nigeria’s economic challenges and how these influence the fintech ecosystem.
Participants will gain actionable insights on how to adapt fintech business models to volatile economic conditions by prioritising flexibility, agility, and customer-centricity.
This collaboration underscores the shared commitment of both entities to empower aspiring founders venturing into the Fintech space amidst economic uncertainties.
By leveraging their respective expertise and resources, Hydrogen and CcHub aim to equip emerging entrepreneurs with the knowledge, tools, and support needed to thrive in today’s dynamic economic conditions.
Emeka Awagu, Chief Technology Officer at Hydrogen, commented on the strategic partnership with CcHUB: “Our alliance with CcHUB amplifies our shared commitment to pioneering transformative solutions in Nigeria’s fintech sector.
“By leveraging Hydrogen’s technological expertise alongside CcHUB’s innovative approach, we are primed to set a new standard for fintech excellence and drive impactful change across the industry.”
The event will feature a distinguished panel of industry experts and thought leaders, including, Ina Alogwu, Group Director, Digital Transformation, ARM HoldCo; Emeka Awagu, Chief Technology Officer, Hydrogen, and Miracle Ezechi, Digital Marketing Manager, Hydrogen.
The panel discussion will be moderated to encourage an engaging and insightful conversation on the strategies and innovations required to thrive in Nigeria’s Fintech landscape amidst economic challenges.
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