In what can be categorized as a really great moment, foremost financial institution, Guaranty Trust Bank plc, has reaffirmed its position as Nigeria’s leading financial institution on e-payments with its emergence as a multiple award winner during the 2017 Electronic Payment Incentive Scheme (EPIS) awards organised by the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS).
With six awards, GTBanktook home half of the dozen honours won by Banks and had the highest number of the total awards presented to thefinancial institutions, Fin-techs, merchants and other stakeholders in the Electronic Payment Incentive Scheme.
The EPIS Efficiency awards was established to reward and celebrate financial institutions, merchants and other stakeholders at the forefront of driving electronic payment in Nigeria.
Among the awards won by GTBank are the Best Customer Experience Award (Electronic Payment Platform Experience);for achieving the highest level of overall customer satisfaction in the delivery of electronic payment services to customers, the Cashless Driver: Instant Payments; for the Bank’s outstanding performance in recording the highest transaction count on the NIBSS Instant Payments (NIP) Platform and the Cashless Driver: Point of Sale (POS) Issued Cards’ Transactions for having the highest Point of Sale (PoS) transaction count on the National Central Switch with Issued Payment.
GTBank also won the award for Instant Payments Transaction Efficiency; for achieving the highest transaction count in Point of Sale (PoS) terminals through the National Central Switch (NCS) Platform, the Point of Sale Card Transaction Efficiency;for the Bank’s outstanding performance in recording the highest level of efficiency in card payments on POS terminals connected to the National Central Switch and the award for the Electronic Data Rendition Compliance and Integrity for the Bank’s outstanding performance in ensuring customer data integrity and compliance to CBN mandated submissions.
“We are delighted and proud to recognise, encourage, appreciate and reward financial, non-bank and other stakeholders in the EPIS that has been driving the electronic banking channels in Nigeria,” said the Deputy Governor, Operations Directorate, CBN, Alhaji Suleiman Barau, at the EPIS efficiency awards. The Managing Director of NIBSS, Adebisi Shonubi, added that the event was a reward for all the years of commitments by stakeholders in the finance industrywho have tried to push forward Nigeria’s quest for electronic payment.
Commenting on the awards, Segun Agbaje, Managing Director/CEO of Guaranty Trust Bank plc, said; “We are incredibly excited to receive such outstanding honours from the apex regulators inthe banking sector. Receiving these awards is indeed humbling and we are encouraged to continue to do more. He further added that;“As a bank, we will continue to focus on digitising our services and creating a well segmented and integrated customer experience.”
GTBank is regarded by industry watchers as one of the best run financial institutions in Nigeria and across its subsidiary countries where the bank is reputed for its innovative financial solutions, superior financial performance, world class corporate governance standards and excellent service delivery. The bank’s latest E-payment service, known as 737 banking was adjudged the best banking product in Africa at the 2016 Asian Banker awards.
Kings of Finance: GTBank Named Africa’s Most Admired Finance Brand
Guaranty Trust Bank plc has been ranked Africa’s Most Admired Finance Brand in the 10th-anniversary rankings of Brand Africa 100: Africa’s Best Brands, the pre-eminent survey and ranking of the Top 100 admired brands in Africa. The rankings were announced in a novel global virtual event and will be published in the June issue of the African Business magazine.
In a special report examining the results of the 2020 survey, the founder of Brand Africa, Thebe Ikalafeng, said GTBank’s “clever marketing, global presence and some of its flagship food and fashion events have undoubtedly helped make it a fixture of daily life in some of its key markets, especially its home base Nigeria.” He added that the bank, which recently won plaudits for building a 110-bed Care Centre in response to the Covid-19 Pandemic, “has taken banking and finance to the people.”
GTBank has long been regarded as one of Africa’s outstanding brands and enjoys a massive youth following thanks to its innovative and forward-thinking approach to financial services and customer engagement. It currently commands the largest social media following amongst all financial institutions in Africa and in 2019, the Bank hosted over 700,000 people at its consumer-focused events, GTBank Food and Drink Festival and The GTBank Fashion Weekend, among them dozens of business leaders and industry experts from around the world.
In 2019, GTBank removed all banking charges for young undergraduates under the age of 25 on its GTCrea8 Account Package. The move was unprecedented in the financial services sector but not unusual for a bank that had pioneered Zero-Naira Account Opening in the country, and in which people over the age of 65 also bank for free. GTBank is also blazing the trail in digital technologies; after leading the USSD banking revolution in Nigeria with its 737 Service, the bank is driving the digitization of consumer lending with Quick Credit, a first-of-its-kind digital lending product that gives individuals and small businesses instant, real-time access to loans anytime, anywhere via their mobile phones.
Brand Africa’s ranking of GTBank as Africa’s Most Admired Finance Brand is only one of its many accolades. In 2019, the was recognized as the Best Bank in Africa and Best Bank in Nigeria, by the Euromoney Magazine and the Best Banking Group and Best Retail Bank Nigeria by World Finance Magazine. In the same year, the Bank also dominated the Central Bank of Nigeria’s Electronic Payment Incentive Scheme (EPIS) Efficiency Awards for the third year in a row, taking home 8 of the 12 honours for banks at the forefront of driving the digitalization of financial services.
COVID-19: CBN Issues Directive To Banks, Reduces Interest Rates
The Central Bank of Nigeria (CBN) has reduced interest rates on its facilities through participating in Other Financial Institutions (OFIs).
The rate has been slashed from 9 to 5 percent per for one year, effective March 1, 2020.
This was contained in a circular to banks on Wednesday by the Director of Financial Policy and Regulation Department, Kevin Amugo.
Similarly, CBN intervention facilities obtained through participating OFIs, Microfinance Banks (MFBs), Primary Mortgage Banks, among others would be given a further one-year moratorium on all principal repayments.
This is also effective on March 1, 2020.
OFIs have equally been granted leave to consider temporary and time-limited restructuring of the tenor and loan terms for households and businesses, subject to the recently issued guidelines for restructuring affected credit facilities in the OFI sub-sector.
The Director, Corporate Communications Department, Isaac Okoroafor, said the decisions were part of the bank’s efforts to cushion the effects of coronavirus on Nigerians, businesses and regulated institutions.
He assured that the CBN would also continue to monitor developments and implement appropriate measures to safeguard financial stability and support stakeholders impacted by the COVID-19 pandemic.
However, the Monetary Policy Committee (MPC) meeting of the CBN for the month of May will be held on Thursday.
GTBank Celebrates Children’s Day
BIG STORY19 hours ago
19-Year-Old Yabatech Student Arrested Over Salawa Abeni’s Nude Pictures
BIG STORY2 days ago
BREAKING: Co-Host Of ‘Kakaaki’ On AIT Test Positive To COVID-19
BIG STORY2 days ago
Two ‘Trigger-Happy’ Police Officers Arrested As Nigerians Demand Justice For 16-Year-Old Girl Killed By Bullet
BIG STORY19 hours ago
BREAKING: Lagos Police Officer Kills Colleagues In Shooting Spree, Fires 30 Bullets [PHOTOS]
BIG STORY2 days ago
BREAKING: Six Nigerian Air Force Officers Jailed Over Murder Of Former CDS, Alex Badeh
BIG STORY2 days ago
City Photographer, Bright Izuwa Celebrates 30th Birthday With N30 Million Photography Studio In Lagos