Skip to main content

Dangote Unveils SunTrust Bank

Aliko Dangote unveils Nigeria’s first Fintech Bank
August 24, 2016
Press Release

It was celebration galore on Monday, August 15, 2016 when the President of the Dangote Group and Africa’s richest man, Aliko Dangote led other dignitaries to flag off Nigeria’s first full-fledged technology bank, SunTrust Bank.

SunTrust Bank is the first regional bank to receive a new license by the Central Bank of Nigeria (CBN) since 2001 and the first full-fledged financial technology bank in Nigeria.

The Bank is the first commercial bank that runs minimal branches and focuses on electronic channels by offering telephone, mobile and internet banking services.

According to Mr. Dangote who chaired the opening ceremony at the bank’s headquarters in Lagos, Fintech Bank is a welcome development in this era of cashless economy. He emphasized that SunTrust Bank will help the country harness its potential in the digital world.

He explained further that technology-driven platform would distinguish the bank and make it the most cost-effective bank in the country with fewer personnel and attendant lower overhead cost.

“SunTrust bank has elements that appeal to me in its Fintech strategy driven by its focus on technology,” the businessman said.

“SunTrust has recognized that the old model of business expansion via a network of expensive branch premises is obsolete. What you need now is to sit down at home and do your banking transactions thereby saving money and time.”

Mr. Dangote commended the board, management and staff of the bank for their courage in taking the bold step at a time “banks all over the world are facing multiple challenges and headwinds” and noted that the Bank’s focus will drive it to success.

Source: http://www.trezzyblog.com/2016/08/aliko-dangote-unveils-nigerias-first.html

Labels:

Comments

Post a Comment

Popular posts from this blog

Photo: How Goodluck Jonathan Remembers Yar' After 6 Years

The former President took to his twitter account as he remembers his former boss Late President Yar'adua. See his tweet.
Post a Comment
Read more >>

PHCN - More Blackouts As Electricity Drops To 1,580MW

The highly pronounced power failures across the country in the past few days may worsen following a partial system collapse that occurred on Tuesday, and the continuous drop in electricity generation due to what the government says is the vandalism of pipelines that supply gas to the power plants. As a result, power generation dropped to 1,580.6 megawatts on Wednesday.Data from the Nigeria Electricity System Operator as well as information from senior officials of the different electricitydistribution companies confirmed that power generation plummeted massively on Tuesday and Wednesday. The officials noted that this resulted in the reduction of the electricity load allocated to the Discos, stressing that this was why many parts of the country had been recording blackouts in the past few days.It was learnt that the partial system collapse that occurred on Tuesday happened at the Shiroro Power Plant and dragged down electricity generationto as low as 1,233.4MW from a peak of 3,207.7MW...
Post a Comment
Read more >>

Mikel Obi Donates N11million To Nigerian Olympic Team

Reports says that Chelsea's midfielder John Mikel Obi has donated $30,000 to the Nigeria Olympic group in Atlanta, prior to this coach Samson Siasia has been making noise of how the team lacks adequate funding and calling on the NFF to also pay his outstanding 5 months salary. It would be recalled also that it was an anonymous who paid their bills for 10 days they stayed in America. Mikel was named the skipper of the Olympic team in Rio.
Post a Comment
Read more >>