Parallex Bank Commences Operation, Promises Innovative Products

Oluchi Chibuzor

As the latest entrant into the commercial banking sector in Nigeria, Parallex Bank, has promised to redefine the sector with innovative digital products.

This, according to them, would help to redefine the banking landscape in Nigeria and Africa at large, having obtained a license to operate as a regional bank.

Speaking at the unveiling of the bank in Lagos, its chairman, Dr. Adeola Phillips said Parallex Bank was here to make a unique statement about what innovation can do in an industry that is constantly reinventing.

She also said that the bank would operate broadly with a competitive mindset, to disrupt the market and delight customers with very attractive offers. The goal is to empower the banking public and to drive convenient and efficient commerce through the bank digital platforms.

She added that the Parallex mobile app offers customers the freedom to do much more, noting the app will eliminate inconveniencies and hardships often faced by customers while carrying out transactions.

Speaking, the Managing Director of the bank, Mr. Olufemi Bakre, said the bank’s promise to its customers is to be an enabler of limitless banking.

While also unveiling the bank’s logo, Bakre established that Parallex Bank is the first bank in Nigeria to migrate from a microfinance bank to a commercial bank.

He expressed conviction that Parallex Bank limited would achieve more as the bank partners with customers to explore more business opportunities.

Olufemi stated that the vision of Parallex Bank is to be the preferred financial solution provider redefining customer experience through innovation, while aiming to migrate from regional.

He assured customers of excellent banking products and services stating that the bank offerings are designed to address the yearnings of Nigerians.

With a strong ecosystem anchored around the customer, Bakre informed the guests that the bank has a robust product portfolio that is customer focused, innovative and simple.

According to him, the Parallex mobile app has unique features and benefits that are quite rare in this market.

“On the app, customers can choose to create their unique account numbers, increase their transfer limits, make five free transfers per day to any bank in Nigeria. They can request for free debit cards, which will be delivered to them for free. They will receive prompt responses to enquiries. With this the level for us in the next five years is to see how to become a national bank, “he stated.