GTBank has been named Bank of the Year Nigeria for the second time in a row and also Bank of the Year Sierra Leone.
Foremost African financial institution, Guaranty Trust Bank Plc has won the award for “Bank of the Year Nigeria” for the second year in a row at The Banker’s Bank of the Year Awards, regarded as the industry standard for excellence within the global banking sector. Guaranty Trust Bank Sierra Leone Ltd, a subsidiary of Guaranty Trust Bank Plc, was also recognized as the “Bank of the Year Sierra Leone” at the event, which held on November 29, 2018, at the Sheraton Grand London Park Lane, London, United Kingdom.
The Banker, a publication of the Financial Times, is the world’s leading monthly journal of records for the banking Industry, with over 90 years expertise in publishing developments in the banking industry in Africa and on the global scale. The Magazine’s Bank of the Year Awards celebrates leading financial institutions within the global banking sector who are setting new industry standards and driving innovation in financial services and customer experience.
Receiving the award on behalf of the Bank, Segun Agbaje, Managing Director/CEO of GTBank said; “We are honoured to be recognized as the 2018 Bank of the Year in Nigeria and Sierra Leone. These awards serve as further motivation for us as we continue to go beyond traditional banking services by creating innovative digital services that are less about us as bank and more about our customers and how we empower them with everything that they need to better their lives.
He further stated that “Our vision has always been to create an oasis in the financial services industry that leads, not only in earnings and returns on equity but also in maintaining world-class corporate governance standards and pushing the bounds in service delivery and customer experience. These awards reflect our sustained commitment towards this vision, which we will continue to pursue, driven by our passion for excellence and guided by our founding values of hard work, discipline and integrity.” Alongside its record for consistent year-on-year growth, GTBank is widely regarded by industry watchers as a trailblazer in the banking industry due to its many innovations in digital and financial services. Recently, the Bank launched Habari, Nigeria’s largest platform for music, shopping and lifestyle content and the first mobile platform created by a financial institution in the country that focuses on enabling people’s needs and lifestyle rather than providing regular banking products.
EY, Open Banking Nigeria Partner for Financial Services Innovation
Image credit: Financial Times
LAGOS, NIGERIA. 22 July, 2019: Ernst & Young (EY), a global professional services firm, has finalised arrangements with Open Banking Nigeria to develop and advocate for a standard Application Programming Interface (API) for the country’s financial services industry. The partnership will, in addition, transform the management of financial data and extend services to individuals and businesses across Nigeria.
EY, in a statement, disclosed this recently after it inked an agreement with Nigeria’s foremost Open Banking advocate and facilitator, Open Banking Nigeria.
With this agreement, EY joins other leading industry stakeholders to analyse the need of the industry for a common API standard among banks and other financial institutions, support the development of API standards, promote adoption with stakeholders—players and regulators—and enable further innovations in Nigeria’s financial services industry.
The introduction of a unified API across financial institutions creates a foundation upon which data can be effortlessly accessed and securely shared, real-time. It would, among others, empower individual and corporate users of services within the payment ecosystem to instruct their service providers to share their bank balance and transaction information with regulated Account Information Service Providers (AISPs).
This interoperability would result in the development of modern payment services, cost savings for operators and increased innovation while also guaranteeing information security and privacy, which would not cause an uneven playing field for industry players.
According to a statement by Dapo Adewole, Partner, Technology Advisory, at EY: “As part of our commitment to support the building of a better working world, EY Nigeria is working with stakeholders to use open banking to reshape financial services, especially as regulators and governments seek to increase competition and choice.
“We understand that customers also expect more convenience and flexible access to services, driven by broader digital experience and emerging technology. It is our desire to bring this goal to fruition, while working with other player in the industry.”
Welcoming EY Nigeria to Open Banking Nigeria, Ope Adeoye, a trustee at Open Banking Nigeria, noted the firm’s top-notch contributions, along with other stakeholders, would lead to the development of the next generation of API standard for the Nigerian financial services industry.
Already acknowledged as the future of banking on the globe, the adoption of Open Banking in Nigeria would enhance the service offerings of players in the financial services industry, improve customer engagement and build new digital revenue channels. It would also transform the operation of other industries, including telecommunications, power, hospitality, retail, and insurance, seeking to leverage data for the improvement of their operational scope and service offerings to clients.
Credit: Open Banking Nigeria
GTBank Named Best Bank in Africa at Euromoney Awards
Lagos, Nigeria – July, 2019: Foremost African financial institution Guaranty Trust Bank plc has been named the Best Bank in Africa 2019 by Euromoney at its annual Awards for Excellence, which held in London on Wednesday, July 10, 2019 at the London Hilton Hotel, Park Lane. GTBank was also named the Best Bank in Nigeria for a record ninth time, reflecting the Bank’s position as one of the best managed financial institutions in the country, with strong and focused leadership that keep the business in a constant state of re-invention and innovation.
Now in its 50th year, Euromoney is the leading publication for covering the growth of international finance. Euromoney’s Awards for Excellence are the awards that matter to the banks and bankers who matter. This year, Euromoney received almost 1,500 submissions from banks in an awards programme that covers 20 global awards, more than 50 regional awards, and best bank awards in close to 100 countries. The Magazine’s Awards for Excellence celebrates the best banks around the world by recognizing institutions that have demonstrated leadership, innovation, and momentum in the markets they operate. In selecting its award recipients, Euromoney combines quantitative and qualitative data to honor institutions that have brought the highest levels of service, innovation and expertise to their customers.
Key to the emergence of GTBank as the Best Bank in Africa and the Best Bank in Nigeria, is the Bank’s digital drive and its clarity of vision in reimagining the future of banks and banking. The Euromoney awards also recognized GTBank’s commitment to leading the future of banking as well as its consistent long-term strategy led by a senior management team that abhors complacency and keeps the business in a constant state of innovation.
Commenting on the Bank’s Euromoney awards, the Chief Executive Officer of GTBank, Segun Agbaje, said; “We are delighted and proud to win the Euromoney Awards for Africa’s Best Bank and Nigeria’s Best Bank. These awards reflect the progress we are making in delivering the best banking experience that captures what customers want in the world of today and tomorrow. They are also a testament to our leading role in driving world class corporate governance standards, excellent service quality and innovation in Africa’s banking industry.
He further stated that; “At GTBank, we are passionate about building the bank of the future by leveraging the best of technology to add real value to our customers’ lives, and these awards illustrate the hard work and commitment of our staff, management and board towards achieving this goal.
GTBank has consistently played a leading role in Africa’s banking industry. The GTBank brand is regarded by industry watchers as one of the best run financial institutions across its subsidiary countries and serves as a role model within the financial service industry due to its bias for world class corporate governance standards, excellent service quality and innovation.
Digital Bank: Standard Chartered launches in three more African countries
JOHANNESBURG – Multinational banking and financial services company Standard Chartered on Friday announced the launch of its digital bank in Botswana, Zambia and Zimbabwe as part of its transformation strategy in Africa, following similar moves in Uganda, Tanzania, Ghana and Kenya during the first quarter of 2019 and in Côte d’Ivoire last year.
The expansion comes amid rising demand for wider access to digital services in Africa, which has a growing population and economy.
“This is a significant achievement for the bank having now launched digital banks in 8 markets in 15 months of our initial launch in Côte d’Ivoire,” Standard Chartered regional CEO for Africa and Middle East Sunil Kaushal said.
“The growing population of Africa is demanding faster and more convenient banking and it has been very rewarding to witness increased acceptance and a growing demand for our digital products across the continent. We have an exciting pipeline of product launches on this platform which will position us as the premier digital bank in our markets of choice.”
In Côte d’Ivoire the digital bank has exceeded initial expectations with 18,000 new account openings, while in Uganda it has seen an eight-fold increase. In Tanzania the bank has signed up more new customers since launching in March this year than in the whole of 2018.
It is expected to continue its digital expansion in Africa with another launch planned in September for Nigeria.
Standard Chartered has also launched SC Keyboard, which allows customers to access a variety of financial services from within any social or messaging platform without having to open the banking app.
Initially launched in Kenya, Uganda, Ghana and Tanzania, the solution is a first for the bank in Africa and will be rolled out to Botswana, Zambia, Zimbabwe and Nigeria throughout the rest of the year.
The keyboard-based banking solution allows clients to transfer money in real-time, pay utility bills and instantly check balances from within any social or messaging platform.
– African News Agency (ANA)
- Energy6 hours ago
G5 Sahel heads of State Support African Development Bank initiative Desert to power
- Business Home1 hour ago
Mixed-use is the key to funding hotel development in Africa
- Economy6 hours ago
Arab central banks’ chief laud Egypt’s successful economic reform experience
- Business Home2 hours ago
Fenix International to Launch Off-Grid Solar in Mozambique in partnership with leading operator Vodacom
- Energy1 hour ago
Jeff Goodrich Says New Book Billions at Play, Provides Solutions for African Energy Self-Sufficiency