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L-R: Rev.Thomas Ehis Amenkhienan, Non-Executive Director, Dr. Adeola Philips, Chairman, Olufemi Bakre, MD/CEO, Dr. Ernest Ndukwe, OFR, Chairman, MTN Nigeria, Deacon Barr. Kingsley Otuaro, Deputy Governor of Delta State At The Event In Lagos On Friday
The latest entrant into the commercial banking space in Nigeria, Parallex Bank has promised to disrupt the status quo and revolutionize the face of the industry.
With a commitment to making customer satisfaction and well-being, among others, its priorities, the bank also promises to redefine the landscape in Nigeria and Africa at large.
It also intends to redefine and give real meaning to innovation and creativity with a view to servicing the dynamic needs of customers in an industry that is constantly reinventing.
The bank may be anchoring its optimism on several fists recorded so far and unique products and services it intends to introduce into the market.
Being a Microfinance bank, established in 2008, to first metamorphose into deposit money bank in 2021 by the Central Bank of Nigeria (CBN), due to dint of hard work, resourcefulness, and commitment to excellence, it promises to use its grassroots relationships with customers to delight them at a higher level of service.
Also, for the first time, mobile app of the bank has unique features and benefits that are quite rare in this market.
They include the fact that customers of the bank can now choose to create their unique account numbers, increase their transfer limits, make five free transfers per day to any bank in Nigeria.
They can also request for free debit cards, which will be delivered to them for free as well as receiving prompt responses to enquiries.
Beyond the app, the customers will enjoy zero maintenance fees while current account holders will further enjoy up to 5% interest rate provided, they maintain a minimum average balance of N100, 000.
At the official launch on Friday in Lagos, its chairman, Adeola Phillips, said Parallex bank will leverage on creativity and innovation to delight and exceed customers’ expectations based on cutting edge technology.
What we are celebrating today is very dear to our heart, to Nigeria and Nigerians as well. It is the introduction of a unique financial institution that believes in the economy of this great nation and the potential it holds.
“Parallex Bank is here to make a unique statement about what innovation can do in an industry that is constantly reinventing. We have a history of thriving during uncertainties.
We will operate broadly with a competitive mindset. We will also support the growth of the nation’s businesses in an ethical manner while also subscribing to corporate governance at all levels, says Phillips.
According to the chairman, “The emergence of Parallex Bank into the Nigerian market and subsequently, into the global market, will strengthen the e-banking space. And with the introduction of customer-centric, stress-free and affordable products and services, our Bank is set to offer competitive services that are a step ahead of competitors.
We see our coming to the market as an opportunity to empower the banking public and to drive convenient and efficient commerce through our digital platforms. This will undoubtedly position us further to meet the needs of modern banking customers”.
Parallex Bank according to her, “Will disrupt the market and delight customers with very attractive offers. Most transactions on Parallex mobile app are free but beyond that, customers will have the freedom to do much more with the app.
Our platform will eliminate inconveniencies and hardship often faced by customers while paying for goods and services.
As a Board, we intend to focus on several strategic initiatives to grow the Bank. With our five-year strategic Plan, crafted with the world’s best consultants, we believe strongly that the Bank will record giant strides in its fundamentals.
This will be made possible with the adoption of new operational processes, implementation of modern business enterprises, heavy investment in banking information technology, expansion of operations, product innovations and being more market focused.”
Managing Director of the bank, Olufemi Bakre,said the bank’s promise to its customers is to be an enabler of limitless banking, while reiterating that the bank is the first to migrate from a microfinance bank to a commercial bank.
He expresses optimism that the Bank will achieve more as the it partners with customers to explore more business opportunities.
“We have a very robust history which has given credence to our competence and creativity in meeting the aspirations of customers as regards financial services. Parallex Bank was first established as Microfinance Bank in 2008.
Today I am proud to announce to you all that Parallex Microfinance bank is now Parallex Bank Limited.
This is the first of its kind within the Nigerian banking space. It is an important day for us. A day that marks a major milestone in our drive to disrupt the status quo and revolutionize the face of the banking industry.” he said.
According to Bakre, “Our brand will surely boost the profile and scope of financial services in Nigeria. Having served creditably in the lower banking genre, we will use the opportunity of our legacy to redefine banking services by making available our rich tradition of ethical conduct, quality service delivery, innovation, and customer care.”
Speaking further, the chief executive said, “To deliver on these propositions, we developed the mobile app with features and benefits that are quite rare in this market.
On the Parallex mobile app, you can create your unique account number. You can increase you transfer limit. You can transfer money to any bank in Nigeria, five times per day for free. You can request for a free debit card, which can be delivered to you for free. You can also send enquiries on the app, and these will be attended to swiftly.
There is more! You will enjoy up to 5% interest rate on your current account provided you maintain a minimum average balance of N100,000. Every personal banking customer that maintains account with us will also enjoy zero maintenance fee. In this new era, Parallex Bank is indeed the enabler of limitless banking. This is our brand promise to customers.”
He reiterated that the Management, and staff of the bank have adopted and shall operate by S.E.E.E.D.D, an acronym which stands for Speed, Execution, Extra mile, Executive touch, Digital innovations, and Discipline.
“This we do, by making available to all Nigerians, our unique digital platforms that make our services available anytime, anywhere.
Our value propositions to our customers are instant account opening, convenience, reliability, prompt resolution to complaints and partnerships. This is how we plan to disrupt the market and delight our customers,” Bakre said
John Danjuma Omachonu