Connect with us

E-Financial

Heritage Bank @ Covenant University, Pledges Consistent, Seamless Delivery

Published

on

Kindly share this post

Heritage bank has identified excellent customer service as the major plank for the continued wellbeing of the banking business in the country.

To this end, the Bank has assured the banking public that its ongoing process of integration with the acquired Enterprise Bank will result in the building of a more dynamic brand that will offer great and bespoke services.

Speaking during the Covenant University’s 3-Day International Conference for African Development Issues (ICADI), which held at the institution’s Campus in Otta, Ogun state from Monday to Wednesday, Titilayo  Babaoye, Bank’s adviser, Ivory Banking,   said the Bank would continue to strive to be known for innovation and  excellent service delivery tailored to suit customers’ banking needs. She added that the bank’s strategy of partnering with various customers to help improve their businesses and take same to desired heights would remain constant.
   
“Heritage Bank is a customer needs driven entity. All our platforms, processes and systems have been configured to work for our customers and drive their banking satisfaction.  Every step of the way, we are with the customer. This is the way to go. Businesses must pay more and more attention to the peculiar needs of the customer. Banks cannot afford not to work with this golden rule if they hope to survive”, she revealed.

Babaoye said with the recent acquisition of Enterprise bank, Heritage Bank now has a wider platform to achieve wider reach for deploying its greater capabilities and value added banking services.

“Our on-going merger process fills us with excitement because we can see the exciting possibility of creating a bigger platform for the deployment of innovation, excellence and customer-centric services in a way never before seen in the country. We understand that true development requires a collective effort and that is why we are committed to offering support and partnership for any and all entrepreneurship ideas aimed at creating, preserving and transferring wealth, especially among youths who are the pivot of the country’s economic and socio-political future”.

In his opening remarks, Professor Olawale Daramola, chairman of the Conference Planning Committee,  noted that African countries must find urgent solutions to unemployment and worsening standards of living among citizens. He observed that with Nigeria in particular, increased national earnings had failed to translate into better standard of living for citizens.

He therefore challenged all economic stakeholders to come together in the bid to bail out the country from youth unemployment. 

Covenant University, in her continued quest for significant local and global impact, established the International Conference of African Development Issues (ICADI) series in 2014. ICADI is aimed at creating a unique platform for making innovative contributions towards value enhancement and capacity development of the black man and indeed, the African continent from the Covenant University context.

The 2015 edition, which had Heritage Bank as one of the sponsors featured a Nobel Laureate, Prof. Alvin Roth as the Keynote Speaker and other notable experts as guest speakers. It also featured keynote addresses, panel/roundtable discussions, research and industry track papers as well as presentations, workshops and exhibitions.


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Comments

E-Financial

Stanbic IBTC Bank Disowns Lagos ATM Fraudster

Published

on

Kindly share this post

Stanbic IBTC Bank PLC has disowned Tope Olajide, 22-year-old fraudster arraigned for theft of customers deposits.

Stanbic IBTC Bank Disowns Lagos ATM Fraudster

The Bank said this in a statement on Wednesday.

The statement said: “The attention of the management of Stanbic IBTC Bank PLC has been drawn to news currently circulating in the media, about the alleged arraignment of staff of the Bank on charges bordering on the theft of customers deposits.

“The Bank would like to clarify that the defendant, a 22-year-old Tope Olajide, IS NOT, and was at no point in time an employee of Stanbic IBTC Bank PLC.

“The alleged culprit was apprehended around 7:30 am, on Thursday, 27 August 2020, by security operatives after he was exposed by CCTV footage using ATM cards he had allegedly stolen and converted, to make withdrawals from the accounts tied to the stolen ATMs.

“The CCTV footage also showed the alleged culprit pretending to assist customers at ATMs whilst also attempting to fraudulently dispossess the customers of their ATMs.

“He was subsequently arraigned before an Ikeja Magistrate Court on Monday, 14 September, for stealing the debit cards of two customers and using them to unlawfully withdraw the sum of N427,000.

“The Bank would also like to implore members of the public to be security conscious when conducting transactions at ATMs. Customers are advised to report any suspicious actions around them to security operatives who are usually stationed around the Bank’s ATMs, when carrying out transactions at any of our ATM locations.

“As an organisation, we hold dear the values of integrity, and we will continue to prioritise the safety of our customers effectively.”


Kindly share this post
Continue Reading

E-Financial

Buhari Okays Establishment of CBN-Led Infraco

Published

on

Kindly share this post

President Muhammadu  Buhari has approved the establishment of an   Infrastructure Company (Infraco) to be driven by the Central Bank of Nigeria (CBN) in partnership with the African Finance Corporation (AFC) and the Nigerian Sovereign Investment Authority (NSIA).

Buhari Okays Establishment of CBN-Led Infraco

Mr. Godwin Emefiele, CBN governor

This is coming  on the heels of the foreign reserves’ slump to $36 billion following a cocktail of monetary policy interventions by the apex bank to cushion the scathing effects of the COVID-19 pandemic on the economy.

Mr Godwin Emefiele, CBN governor, made these disclosures in Abuja at the annual conference of the Chartered Institute of Bankers of Nigeria (CIBN) with the theme: Facilitating a Sustainable Future: The role of Banking and Finance.

According to him, Infraco would enable the use of private and public capital to support infrastructure investment that will have a multiplier effect on growth across critical sectors.

“This entity would also be able to raise funds from the capital markets and mobilise long term finance to address some of our infrastructure needs, while providing reasonable returns to investors. “We believe this well-structured fund can act as a catalyst for growth in the medium and the long run. The support of the banking community will be important in achieving this objective.

“A well-built infrastructure system, comprising hard infrastructure such as roads and ports, and soft infrastructure such as broadband penetration, can have a multiplier effect on growth by enabling the expansion of business activities in the country”, he explained.

On foreign reserves, Emefiele attributed its crash to the decline in foreign exchange earnings and subsequent adjustments in the value of the naira to the dollar.


Kindly share this post
Continue Reading

E-Financial

Amana Bank signs Comprehensive Software Deal with Path Solutions

Published

on

Kindly share this post

Amana Bank, a leading Islamic bank in Somalia has announced that it has selected iMAL, the AAOIFI-certified core banking platform from Path Solutions to replace its legacy IT system and deploy a single, cloud-based digital banking platform to underpin its banking operations.

This is Path Solutions’ third win in Somalia after Premier Bank and MyBank Ltd. The company went through a lengthy competitive bidding to which all international suppliers were invited, before being selected as Amana Bank’s preferred technology partner.

According to a statement following the signing, Path Solutions will supply and install its flagship Islamic core banking platform iMAL in addition to its comprehensive digital suite at Amana Bank Somalia. The new digital software will provide instant 24/7 service availability with fast, inexpensive, easy and convenient online banking, frictionless payments and transfers, personalization, engagement and retention.

Abdirizak Hussein Malin, Chairman of Amana Bank Somalia commented, “As part of our strategy, Amana Bank has instituted a digital transformation plan that will help us meet the emerging needs of our customers and the increasing demands of innovation.

“Consequently, we required a partner with open and agile technology that will drive powerful change. We have chosen Path Solutions for its ability to deliver vital digital financial solutions at this critical time with its depth of experience supporting Islamic banks in Africa.

“The company has differentiated itself from other vendors in its unique ability to combine core Islamic values with modern digital banking solutions, and to fully comply with Sharia and banking regulations.

“We are confident that the new technology, proven to significantly improve levels of customer fulfilment, will transform our operations by driving incredible efficiency gains while also reducing risk, lowering overall IT costs via higher automation and lower maintenance spending”.

The new iMAL platform leverages artificial intelligence and machine learning to help financial institutions get predictive insights for better data-driven decision making. It will also help strengthen customer loyalty through enhanced security transactions.

“We are delighted to partner with a leading Islamic bank in Somalia on a project that will set a new standard in digital banking for the country. Today, every financial institution has an incredible opportunity to apply advances in cloud computing to redefine every aspect of its business”, said Mohammed Kateeb, Path Solutions’ Group Chairman & CEO.

“Somalia’s Amana Bank is a good example of this transformation to drive innovation forward and ensure much more secure banking experience, enabling customers to enjoy the nuances of non-stop banking with cloud-based services.

The bank will also benefit from the full Islamic coverage which bridges the gap between modern customer requirements and intrinsic Islamic values. Our multi-award winning Islamic core banking platform will support the delivery of innovative digital products that are both Sharia-compliant and specialized for Amana Bank’s retail and corporate customers”.

The new agreement was signed by Amana Bank’s Chairman Abdirizak Hussein Malin and Path Solutions’ Group Chairman & CEO Mohammed Kateeb on Sunday 6 September at Path Solutions’ Dubai office. The implementation will be delivered 100% in the cloud and 100% remotely amidst the COVID-19 lockdown.


Kindly share this post
Continue Reading
Advertisement

Social

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement

Trending