Stanbic IBTC Holdings Plc has announced the commencement of operations for its wholly owned financial technology subsidiary, Stanbic IBTC Financial Services Limited. The subsidiary has received all necessary regulatory approvals and licenses to begin operations in the financial services industry.
Stanbic IBTC Financial Services Limited will primarily operate as a Payment Solutions Provider, with a focus on developing innovative technology solutions to enhance Stanbic IBTC’s existing financial services offerings. The launch of this subsidiary is a significant milestone for Stanbic IBTC as it aims to remain at the forefront of the rapidly evolving financial services industry.
By leveraging cutting-edge technology and expertise, the subsidiary aims to provide customers with new and improved ways to manage their finances, conduct online sales, and collect payments through innovative payment and eCommerce solutions.
Dr. Demola Sogunle, the Group Chief Executive of Stanbic IBTC Holdings Plc, expressed his excitement about the establishment of the fintech business. He emphasized that it presents an opportunity for Stanbic IBTC to further penetrate the payments and fintech markets while contributing to the overall growth of the Group’s business.
The launch of Stanbic IBTC Financial Services Limited demonstrates the company’s commitment to embracing technological advancements and meeting the evolving needs of its customers. As the financial landscape continues to transform, Stanbic IBTC aims to provide cutting-edge solutions that enhance convenience, efficiency, and security in financial transactions.
With the establishment of this fintech subsidiary, Stanbic IBTC is well-positioned to play a leading role in shaping the future of financial services in Nigeria. By combining its expertise in traditional banking with the agility and innovation of a fintech firm, Stanbic IBTC aims to deliver unparalleled value to its customers and maintain its position as a market leader in the industry.