Stanbic IBTC Fintech subsidiary starts operations
By Aduragbemi Omiyale
The wholly owned fintech subsidiary of Stanbic IBTC Holdings Plc, Stanbic IBTC Financial Services Limited, has commenced operations after securing all necessary regulatory approvals and licences.
Stanbic IBTC revealed in a statement that the fintech firm would operate as a payment solution provider (PSP), focusing on developing innovative technology solutions to enhance its existing financial services.
It 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 team to identify new opportunities and develop customized solutions to meet customers’ unique needs.
“We believe that Stanbic IBTC Financial Services Limited has the potential to revolutionize the financial services industry by harnessing the power of technology to provide customers with new and innovative ways to manage their finances,” Stanbic IBTC Financial Services Limited CEO Stanley Jacob said and added that “We look forward to driving true platform orchestration that delivers robust payment solutions to businesses, consumers and governments.”
It is believed that 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 through innovative payments and e-commerce solutions.
The CEO of Stanbic IBTC Holdings, Demola Sogunle, indicated that the establishment of a fintech business would give Stanbic IBTC the opportunity to further penetrate the payment and fintech markets and thereby 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 better serve our customers and remain a leader in the financial services industry,” he added.
Stanbic IBTC Holdings aims to be Nigeria’s leading provider of end-to-end financial solutions. In furtherance of this objective, Stanbic IBTC Financial Services Limited will facilitate payment processing, e-commerce, consumer lifestyle payments and other value-added services, thereby complementing other businesses currently operated by the group.
