Abubakar Suleiman, the CEO of Sterling Bank, called on other lenders in the nation to follow suit in order to enhance the banking experience for Nigerians. Suleiman made this call on Wednesday at a press conference in Lagos after the bank recently decided to eliminate bank transfer fees for all local online transactions made by its clients. The announcement was made on April 1st, which at first caused a lot of controversy because many thought it was an April Fools’ Day marketing prank, but Sterling Bank clarified that it was not a gimmick. This is the future. And it begins now.
Nigerians have been paying fees for years in order to transfer their own funds.We’re saying this.Not any more. Suleiman clarified that years of digital transformation led to the conclusion. The bank has already processed more than 180 million transactions and developed a bespoke callback system that can handle over five million consumers. Additionally, it deployed a private cloud environment with capacity much above present and future need and completely moved from a classic European core to an indigenous platform designed for growth.
“We have developed a platform that can effortlessly accommodate fifty times our present clientele. It’s time to give the people back the advantages of that change,” Suleiman continued.
“This is fundamental; we are hoping that, because we’ve done this, because we’ve taken the courage to do this, other institutions may decide to follow,” he added, urging other lenders to join the effort to improve the banking population’s experience.
Source: Punch
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