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Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank - Business - Nairaland

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Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by obiremy: 7:55pm On Aug 24, 2016
Aliko Dangote unveils Nigeria’s first Fintech Bank
August 24, 2016
Press Release

It was celebration galore on Monday, August 15, 2016 when the President of the Dangote Group and Africa’s richest man, Aliko Dangote led other dignitaries to flag off Nigeria’s first full-fledged technology bank, SunTrust Bank.

SunTrust Bank is the first regional bank to receive a new license by the Central Bank of Nigeria (CBN) since 2001 and the first full-fledged financial technology bank in Nigeria.

The Bank is the first commercial bank that runs minimal branches and focuses on electronic channels by offering telephone, mobile and internet banking services.

According to Mr. Dangote who chaired the opening ceremony at the bank’s headquarters in Lagos, Fintech Bank is a welcome development in this era of cashless economy. He emphasized that SunTrust Bank will help the country harness its potential in the digital world.

He explained further that technology-driven platform would distinguish the bank and make it the most cost-effective bank in the country with fewer personnel and attendant lower overhead cost.

“SunTrust bank has elements that appeal to me in its Fintech strategy driven by its focus on technology,” the businessman said.

“SunTrust has recognized that the old model of business expansion via a network of expensive branch premises is obsolete. What you need now is to sit down at home and do your banking transactions thereby saving money and time.”

Mr. Dangote commended the board, management and staff of the bank for their courage in taking the bold step at a time “banks all over the world are facing multiple challenges and headwinds” and noted that the Bank’s focus will drive it to success.


Source: http://www.trezzyblog.com/2016/08/aliko-dangote-unveils-nigerias-first.html

10 Likes 2 Shares

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by eph12(m): 8:02pm On Aug 24, 2016
Following
Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by STARGREEN(m): 8:03pm On Aug 24, 2016
Good development. Hope it's not try and error? Every kobo counts now

9 Likes

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by veekid(m): 8:16pm On Aug 24, 2016
Awesome

1 Like

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by femolacqua(m): 8:48pm On Aug 24, 2016
let's go there.

2 Likes 1 Share

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by Nobody: 9:05pm On Aug 24, 2016
Baba nau jack of all trade

14 Likes

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by omaiyale: 9:06pm On Aug 24, 2016
We need a branch here in Abj

2 Likes

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by Nairadays: 9:06pm On Aug 24, 2016
I first thought it was a bank that will serve as a venture funder of innovative technological solutions or for startups, seems it's a cashless ideology backed bank.

Still good, first of its kind.

Bet Dangote group bank accounts will be domiciled there sharp sharp.

A jack of all trades comes to mind.

26 Likes 1 Share

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by iamboody(m): 9:07pm On Aug 24, 2016
Ok

1 Like 1 Share

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by mayoor15(m): 9:07pm On Aug 24, 2016
Recruitment starts.....that's what we want to hear

17 Likes

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by ladyF(f): 9:07pm On Aug 24, 2016
Hmmm... interesting.

Please someone should come and tell us how much they charge per dollar if we use their ATM on foreign sites.

It's [size=15pt]LadyF[/size] again grin grin grin

8 Likes

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by YoursGEJ(m): 9:07pm On Aug 24, 2016
By the time this man is done, our official currency will be called Dangote. For example;

Person A: Madam, how much be one mudu of garri?

Person B: Na two Dangote I dey sell o

134 Likes 12 Shares

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by Dee60: 9:07pm On Aug 24, 2016
smart guy. targetting youths...
Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by Youpele52: 9:08pm On Aug 24, 2016
$

1 Like

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by Chinaimporter: 9:08pm On Aug 24, 2016
[size=18pt] Allah bless my uncle dangote for all he has been doing for nigerians...i will continue to pray for you. My latr father dantata told me you will be a great man when he first borrowed you 500k to start up.
I am worth 100 billion naira and dont want to risk it investing so that i will rather spend it till i die since my interest of 10 billion naira a yr is enough for me.Thank you uncle.

[/size]

8 Likes 1 Share

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by afoo02(m): 9:09pm On Aug 24, 2016
How can this help the poor?

2 Likes

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by otitokoroleti: 9:09pm On Aug 24, 2016

1 Like

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by kings09(m): 9:09pm On Aug 24, 2016
So as regional bank, wch region will it focus on as its market. and wats d big deal abt d fintech thingy wen most banks services r now technologically-drivN abi dem tink say Nigerians r bush ppl?

4 Likes

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by guywitzerogal(m): 9:09pm On Aug 24, 2016
Bank s bank why the necessary addition of fintech

1 Like 1 Share

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by tejpot(m): 9:09pm On Aug 24, 2016
Hope i will still be able to withdraw certain amount from my card with 0 balance since its fintech. If not....nothing new
Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by NairaMaster1(m): 9:10pm On Aug 24, 2016
Dangote is always useful to the economy

3 Likes

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by Flexherbal(m): 9:10pm On Aug 24, 2016
Good one.
Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by Landloard01(m): 9:11pm On Aug 24, 2016
tongue when God has picked your call, and decided to still call you back. Even when your phone is on silence mode, you will notice his incoming call asap.

6 Likes

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by Kaybee14(m): 9:11pm On Aug 24, 2016
Nice development. It's a gradual process, Nigeria will surely get there.
Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by admax(m): 9:11pm On Aug 24, 2016
I hope we wouldn't wake up one day to discover that Dangote has bought this country.

That guy should be studied in all Nigerian university, a Business Management course; Dan 101 - 402

29 Likes 4 Shares

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by Ucheosefoh(m): 9:12pm On Aug 24, 2016
Dangote the Carlos Slim of Mexico (Nigeria) I love his business acumen

3 Likes

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by Exponental(m): 9:12pm On Aug 24, 2016
Na only this guy?

1 Like

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by xreal: 9:14pm On Aug 24, 2016
The Bank is the first commercial bank that runs minimal branches and focuses on electronic channels by offering telephone, mobile and internet banking services.

Does the bank have a kind of ATMachine through which I can credit my account (or others) directly with my cash at hand?

'cos I am not understanding the bolded.

5 Likes 1 Share

Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by Remii(m): 9:15pm On Aug 24, 2016
omaiyale:
We need a branch here in Abj
no branch, internet all the way
Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by Chuknovski(m): 9:17pm On Aug 24, 2016
More businesses, lesser employment, ICT is taking over
Re: Aliko Dangote Unveils SunTrust Bank, Nigeria’s First Fintech Bank by manny4life(m): 9:17pm On Aug 24, 2016
Welcome development but IMO, I think they will still face certain limitations (tech platform). Nigeria heavily relies on cash regardless but let's see how this model works out, who know, this may yet be the newest era of banking.

2 Likes 2 Shares

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