Skip to main content

Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech 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“SunTrust has recognized that the old model of business expansion via a network of expensive branch premises is obsolete.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
Post a Comment

Popular posts from this blog

U.S. Military Helicopter Crashes In Iraq On Thursday, Killing 7 People On Board

One of the U.S. military helicopter in Iraq has crashed after hitting a power line in Iraq's western Anbar province, killing all seven personnel aboard.

According to a statement from Pentagon this morning, the officials said the crash of the HH-60 Pave Hawk helicopter occurred Thursday afternoon near the town of Qaim.

"All personnel aboard were killed in the crash," Brig. Gen. Jonathan P. Braga, director of operations, Combined Joint Task Force - Operation Inherent Resolve, said in a statement.

"This tragedy reminds us of the risks our men and women face every day in service of our nations," he said. "We are thinking of the loved ones of these service members today."

The statement further said;

Badoo Srine Discovered,Alaka Abayomi Of Alaka Petroleum Apprehended(Video)

The Nigerian police SARS, IRT and RRS, has arrested a popular independent oil marketer of Alaka petroleum Alhaji Abayomi Alaka . Following investigations of the recent killing of a family of five over the weekend , kudos to the gallant men of the Nigerian police

Wife Of Donald Trump Junior Files For Divorce

(Reuters) - The wife of Donald Trump Jr., the eldest son of U.S. President Donald Trump, has filed for divorce in New York, according to court records.

Vanessa Trump, a former model and actress, and Trump Jr. said in a joint statement on Thursday: "After 12 years of marriage, we have decided to go our separate ways."

The statement was provided by the Trump Organization, the president's business empire, which his son helps manage.


Further details were not immediately available on the uncontested divorce filing by Vanessa Trump in a New York state court. She and Trump Jr. have "enormous respect" for each other, according to the joint statement, which also asked for privacy.