Having received all required regulatory approvals and
licenses to commence operations, the subsidiary will operate under the name
Stanbic IBTC Financial Services Limited. It will function primarily as a
Payment Solutions Provider (PSP), focusing on developing innovative technology
solutions to enhance Stanbic IBTC’s existing financial services offerings.
The launch of Stanbic IBTC Financial Services Limited marks
an important milestone for Stanbic IBTC as the company seeks to remain at the
forefront of the rapidly evolving financial services industry. The subsidiary
will leverage cutting-edge technology and expertise to provide customers with
new and improved ways for businesses to manage their finances, sell online and
collect payments via innovative payments and eCommerce solutions.
Speaking on this development, Demola Sogunle, Group Chief
Executive of Stanbic IBTC Holdings Plc indicated that the establishment of a
Fintech business would provide Stanbic IBTC with the opportunity to penetrate
further into the payments and Fintech markets and thus contribute to the growth
of the overall business of the Group.
”This development is exciting for our company as we continue
to invest in new technologies and solutions that will allow us to serve our
customers better and remain a leader in the financial services industry.”
Stanbic IBTC Holdings PLC’s strategic intent is to be
Nigeria’s leading end-to-end financial solutions provider. In furtherance of
this objective, Stanbic IBTC Financial Services Limited will facilitate
payments processing, eCommerce, consumer lifestyle payments and other value
added services, thus complementing other businesses currently being operated by
the Group.
Stanbic IBTC Financial Services Limited will operate as a
separate legal entity under the Stanbic IBTC umbrella, with its Management team
and dedicated resources to drive innovation and growth. The subsidiary will
work closely with the Group’s existing teams to identify new opportunities and
develop customised solutions to meet the unique needs of its customers.
“We believe that Stanbic IBTC Financial Services Limited has
the potential to revolutionise the financial services industry by leveraging
the power of technology to provide customers with new and innovative ways to
manage their finances,” said Stanley Jacob, Chief Executive, Stanbic IBTC
Financial Services Limited. “We look forward to driving true platform
orchestration that delivers robust payment solutions to businesses, consumers
and Government.”
Enhancing the Group’s overall operations and contributing to
the growth of the Nigerian financial technology industry, Stanbic IBTC
Financial Services Limited will leverage agile practices and innovation to
driving financial inclusion, enhance user experiences, improve service
delivery, and promote economic growth.
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