CEM REPORT, FINANCE | Stanbic IBTC Holdings Plc has launched its wholly-owned financial technology subsidiary – Stanbic IBTC Financial Services Limited.
The fintech service will operate as a payment solutions provider (PSP), focusing on developing innovative technology solutions to enhance Stanbic IBTC’s existing financial services offerings.
It added that 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 via innovative payments and eCommerce solutions.
According to the Chief Executive, Stanbic IBTC Financial Services Limited, Stanley Jacob, the fintech service has commenced operations, having received all required regulatory approvals and licenses.
“We believe that Stanbic IBTC Financial Services Limited has the potential to revolutionise the financial services industry by leveraging the power of technology to provide customers with new and innovative ways to manage their finances,” he added.
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Group Chief Executive of Stanbic IBTC Holdings, Demola Sogunle said, the establishment of a fintech business would provide Stanbic IBTC with the opportunity to penetrate the payments and fintech markets.
He added 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.
”This development is exciting for our company as we continue to invest in new technologies and solutions that will allow us to serve our customers better and remain a leader in the financial services industry.”