In partnership with CeLD Innovations, Keystone Bank plc and Heritage Bank plc, last week introduced a new product known as CashToken, a consumer electronic reward system, into the Nigerian financial markets.
The CashToken is an electronic reward and celebratory gift commodity, which costs only N30.00 is aimed at making every patronage or celebratory gift a life-changing cash opportunity.
Speaking at the launching ceremony, Jude Monye, Executive Director of Heritage Bank said CeLD is a very innovative organisation that is committed to bringing new innovation to the Nigeria’s economy to enable discerning companies to reward their customers.
“We are at Heritage Bank believe in it, because we believe in trail blazing, which is our forte and our forte is innovation,” Monye said.
The new innovative product, CashToken, which was formally launched in Lagos on Thursday April 19, 2018 at a conference tagged “500 Top CEOs Conference – Unleashing The Age of Hyper Consumer Centricity, is an electronic reward and celebratory gift commodity which costs only N30.
The initiative according to CeLD creates an avenue for every customer in Nigeria to have an opportunity for life-changing cash rewards every Friday night at the National CashToken draws, to be monitored by Alexander Forbes and audited by Deloitte. The product is designed to optimize customer loyalty investment for business, celebratory gift value optimization and public emotional equity for government.
According to Obeahon Ohiwerei, group managing director/ Chief Executive Officer of Keystone Bank, “At Keystone Bank, our vision as we begin our trajectory towards industry leadership is the enablement of new possibilities tied to our customer’s innermost desires as we connect our customers to a new era of Hyper Consumer Centricity; where every patronage of our bank is a life changing opportunity.”
“And so, the establishment of the World’s First Cash Reward as-a-Service Platform by CeLD is indeed not only most commendable but worthy of strategic support of forward looking businesses; hence the support of the Board of Directors and management of Keystone Bank Limited.”
“We have also taken a decision to partner with CeLD to adopt this ground-breaking product, ‘The CashToken’ as a Keystone Bank Customer Loyalty Reward Commodity. We believe every patronage of the bank should be a true life changing-opportunity with guaranteed cash for insurance, pension or savings.”
“We therefore call on all industry leaders, business owners, governments and the celebratory gift industry to join us as we project this great African Innovation to the world stage. We believe that One to Three Billion people will receive CashTokens in five years across the world.’’ Ohiwerei concluded.
Also speaking at the launch, Leo Stan Ekeh, Chairman of Zinox Technologies Limited said that products like CeLD are the kind of empowerment that today’s startups earnestly require.
“CashToken is the miracle of the 21st Century, and it’s an innovation that makes business faster, and is transparent. It is an innovation that will bring growth to the economy of the country.” Ekeh added.
Lai Labode, Founder/ CEO of CeLD Innovations said the company is the world’s first cash reward as a service company which has established a robust technology and business model that herald a new era of hyper consumer centricity.
He said they are pioneering a performance based system designed to optimise consumer loyalty investments for businesses, celebratory gift value optimization and public emotional equity for government.
Labode said about N20 billion would be offered in the next three years of full operation of the fund; which is managed by Vetiva Capital Management, Nigerian Stockbrokers Limited and First Ally Capital.
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