Parallex Bank bags award on agency banking

Parallex Bank, one of Nigeria’s most innovative young commercial bank, has won the Excellence in Agency Banking Awards at the 2022 Finnovex West Africa Awards and Summit for its outstanding service in reaching the unbanked and making banking accessible to all.

The Finnovex West Africa Awards, organized by Exibex, a United Arab Emirates-based event management company, seek to recognize and appreciate the efforts of various individuals, institutions, and service providers who have excelled in the field of financial services.

“The Finnovex Awards cherish and celebrate outstanding achievements in the banking and finance industry, and are intended to honor organizations and individuals who have consistently demonstrated exemplary performance over the years under review,” said Emmanuel Onyeje, Summit Chairman.

He stated that despite its newness in the market, Parallex Bank has demonstrated an unwavering commitment to excellence in its agency banking services and is deserving of the excellence awards. He further stated that the awards set a high standard of excellence and aim to serve as an effective platform for financial institutions to showcase their talent and identify industry leaders.

In response to the award, Olufemi Bakare, managing director of Parallex Bank, said that the award is further proof that striving for excellence is highly rewarding.

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According to him, the bank has received numerous awards in its first year of operation because of its dedication to its core values of professionalism, customer-centricity, excellence, innovation, and collaboration.

Bakare claims that the bank has left no stone unturned in its agency banking operations, allowing many Nigerians who had previously been denied access to banking to become account owners at no additional cost. He stated that as an enabler of limitless possibilities, Parallex Bank offers businesses and individuals banking services with no maintenance fee and free transfers to other banks, among other benefits.

Abdulwasiu Popoola, Parallex Bank’s chief digital and innovation officer, described Parallex bank Agency Banking as a robust package of services that enables financial inclusion and allows agents to serve customers who are not Parallex Bank customers.

He noted that the Parallex Bank platform is adaptable, with competitive and attractive commissions for agents working on cutting-edge technology and terminals that enable the company to roll out various services that are unique in the market and provide agents with peace of mind.

Popoola stated that the bank was deliberate in its approach to the market in order to motivate both existing and new agents to make a good profit working with Parallex Bank.

“The Excellence in Agency Banking Awards, along with other awards received by the bank, will further motivate the bank and its employees to continue providing the best services to their customers,” Popoola stated.