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Diamond Bank Excites Customers With Online Loan Application Platform

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Diamond Bank has raised the bar in Nigeria’s financial services sub-sector with the introduction of an online loan application platform that allows customers to request for a loan, monitor and receive automatic feedback on the approval process anywhere, anytime without hassles.

With this, the Bank has reaffirmed its commitment to continue to drive financial inclusion of the un(der)banked in the economy, and consolidated its revolutionary leadership role in the crusade for quality service delivery through digital innovations.

The new Diamond loan application is a convenient, hassle free application and it is not limited to Diamond customers only.

In a press release made available to media practitioners, the Bank stated that the online loan application platform is in line with its vision to be at the forefront of using technology to deliver quality customer service that goes “beyond banking”.

“With the introduction of the Diamond loan platform in this technology driven age, it will be unnecessary for an individual to leave the comfort of his or her home to visit a branch to apply for a loan. All they need to do is to visit the bank’s website: www.diamondbank.com to fill a loan application and monitor the approval process,” the Bank stated.

One of the key features of the online loan application platform is that one does not need to have an account with Diamond Bank before he/she can apply for a loan.

Ayona Trimnell, Head, Corporate Communications Division of Diamond Bank, stated that the digital transformation offers invaluable benefits and advantages to the customer, pointing that the new online loan platform is simple and user-friendly.

She said: “It gives the customer greater control of the loan application process because the customer is able to monitor the loan requests and the interactive loan calculator helps the customer to plan his/her monthly repayment. Also, the online loan platform provides access to information on personal and business loans”.
Diamond Bank’s digital initiative started in 2014, when it launched a major redesign of its website to promote more digital services for its customers and financial inclusion of the unbanked in Nigeria.

Since then, the Bank has maintained its leadership role in driving digital transformation in the financial services sub-sector, and this has led to a number of projects that have translated to rapid growth on the retail side. The Banks digital leadership in the financial services sub-sector gained ascendency in the last two years with its Diamond Mobile Apps usage increasing from 1.6 million to 5.1 million while volume increased from 1.26 billion to 5.5 billion year on year.

Since Diamond Bank’s incorporation in December 1990, the Bank has challenged the market environment by constantly introducing new products, innovative technology and setting new benchmarks in digital financial service delivery. Today, Diamond Bank is best placed to respond to changing lifestyles and is leading the digital transformation in response to these societal shifts.

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Heritage Bank Identifies High Prospects In Nigeria’s £4bn Gold Market

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Heritage Bank Plc, Nigeria’s most innovative banking service provider, disclosed that Nigeria’s Gold market is worth £4 billion Pounds with high prospects of profitability for all players in the subsector.

The MD/CEO, Ifie Sekibo, who stated this at the Nigeria-Canada Investment Summit, held in Abuja, yesterday also disclosed that the enormous potential of the industry was one of the reasons why Heritage Bank delved into the mining sector despite enormous risks.

According to him, the bank has Dukia Gold as its partner that would facilitate access to local miners and artisans to get value for their commodity at international market price after being registered with Dukia Gold.

Sekibo, who was represented by the Team Lead, Agric Finance and Export, Adelana Ogunjirin, explained that prior to now, local miners of Gold found it difficult to trade their commodities favorably but with the involvement of Dukia and its partner, Heritage Bank, a Quality-and-Quantity test will be conducted based on the arrangement they made with Dukia Gold and that will lead to added value to the smallholder miners. He explained that this will leverage the small miners the opportunity to also trade their commodities at the international market price.

He further stated that a metric tonne of gold is currently valued at $30million adding that it is worth investing in the industry, especially as gold is a kind of commodity that does not easily lose its value.

He said: “Mining sector is an area which has not been fully tapped in terms of the potentials around it, as there are quite a lot of opportunities around that sector. Recently we secured a $1 billion funding line with our funding partner AfreximBank, which also is to support areas like solid minerals.

“Now with respect to this we have looked at the value chain of this space and we have looked at the opportunities that are there. A lot of fund providers have not really delved into this and it is because of the lack of understanding of the market.

“In terms of value, gold is an area where you can enhance the value. You hardly see Gold losing value and you see that in different exchanges you even trade those commodities.

“Looking at it in terms of trend, you see that gold is something that will appreciate definitely. So in terms of the profitability of this business, we have looked at it, the crunch, the numbers we see that is a space that the Bank will definitely earn a lot of income.”

He also expressed optimism that other banks would like to come into the Nigerian mining sector but maybe studying to understand the sector properly.

“Definitely other banks will come into the sector. For us, we are leading, but the truth is they need to play in an area and space that they understand, as not everybody would be able to play in that space.

“Heritage Bank has already carved a niche for itself in agribusiness space, just like the Gold commodity, this would be exported. So, in terms of export proceeds too, there are opportunities to be explored. Generally, looking at the Nigerian outlook, in the long run, this will also enhance the country’s external reserves. There are multiplier effects of what we are doing today and that is why we are also moving in this direction,” the MD noted.

Also speaking, Managing Director, Nigeria Export-Import Bank, NEXIM, Abba Bello, revealed that the bank had gone into high-level discussions with heavy equipment manufacturers and suppliers that would lease equipment to miners for exploration and processing, adding that this was expected to make the equipment accessible and affordable.

Bello said, “For equipment supplier or outright purchase of equipment, we have gone into discussions with Bluecare and now Mantrac for the supply of heavy equipment for gold processing or exploration on lease basis and, it is something that does not exist currently within the industry.

“Barrick Gold and Bullion Mart is something that happens in the mining world. You don’t have to own the equipment, but there are vendors who supply the equipment for explorers to hire.

“Discussions have gone very far with the equipment suppliers and very soon we will announce the programme.”

Meanwhile, the Country Manager, ITM, Nigeria, Habibah Waziri, raised concerns on human resources development that would sustain the sector.

Waziri also said there is a need to formalize the sector and also invest in human capital in the sector for growth and development.

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UBA Partners With British Airways To Reward Loyal Customers

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Pan African financial institution, United Bank for Africa (UBA) Plc and the global airline, British Airways have announced a collaboration to reward loyal customers who are cardholders of the Bank.

The promo which will last for six months from November 2019, will witness UBA customers getting significant discounts when they purchase their British Airways tickets using their UBA cards. The promo will allow customers to enjoy up between 10% to 15% discount on any ticket purchased during the campaign. The ticket fares is exclusive of taxes as is applicable to purchases of all goods and services.

The collaboration is aimed at increasing customer experience and satisfaction for both UBA Cardholders and customers of British Airways.

The General Manager, Corporate Bank, UBA Directorate, Mr Muyiwa Akinyemi, who expressed delight at the collaboration, noted that the promo between the two organizations was carefully thought out to ensure that loyal customers of the two institutions are duly rewarded while ensuring that they also receive more value for their money. He added that for persons without a UBA account, all they require to benefit from this promo is to procure a card instantly from any UBA branch nationwide.

“UBA is excited to collaborate with one of the foremost Airlines in the world to run a promotion aimed at rewarding our cardholders and premium customers who will enjoy discounted tickets and other ancillary benefits such as loyalty points on the British Airways Executive Club.”

He explained that as a customer-centric institution, UBA is always on the look-out for services and reward schemes that will ultimately benefit the customers, in line with its Customer 1st policy.

Akinyemi noted that the bank has plans to partner with other airlines in the future to provide further opportunities for reducing the cost of travel for its customers. “For now, we are partnering with a pre-eminent airline that offers class and distinction,” he said.

The Commercial Manager for British Airways in West Africa, Mr. Kola Olayinka, noted that the airline is pleased to partner with the bank due to its huge customer base and wide reach, adding that with the partnership, more customers will be able to enjoy the promo.

He said, “British Airways is excited to partner with UBA, Africa’s Global Bank, to create a mind-blowing promotion aimed at raising awareness about this service to be rendered by both institutions.”

Continuing, Kola said, “In addition, the discounts provided by British Airways will reduce the cost of travel and encourage the Bank’s customers to make more foreign trips during the period and also reward their customers and staff as a way of giving them something very tangible.”

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Heritage Bank Convenes Strategic Agribusiness Meeting With Sumitomo Corporation

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L-R: John Gbassa, CEO/MD of WAO Global Trading Ltd; Koji Shirotani, Divisional Manager, Sub-Sahara Africa Business Development Division; Afolasade Alonge, Divisional Head, Corporate and Specialized Banking, Heritage Bank Plc; Masafumi Tanimoto, General Manager, Accra Liason Office; Tsuyoshi Ueda, Assistant Managing Director; Jude Monye, Executive Director of Heritage Bank; Olugbenga Awe, Divisional Head, Agric Finance & Export and Takuya Yamamoto, General Manager, Middle East & Africa, Sumitomo Corporation, during discussion between the Heritage Bank and Sumitomo Corporation on mechanisation & Agric Business, held at bank’s head office, weekend.

Nigeria is at the threshold of the much-needed agricultural revolution, as food production remains a significant challenge all over the world, hence whilst, Heritage Bank Plc is forming an alliance to further create formidable partnership arrangements with Sumitomo Corporation that will lead to impactful agribusiness within the segments of the agricultural value chain.

This relationship that is focused on mechanization and agribusiness will complement the efforts of the Central Bank of Nigeria’s (CBN) to fast track development of the agricultural sector and enhance national food security.

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