Stanbic IBTC launches fintech subsidiary, Zest

Stanbic IBTC Holdings Plc has launched its pioneering fintech subsidiary, called Zest, to revolutionise the payment sector.

During the launch event in Lagos, Basil Omiyi, the Group Chairman of Stanbic Holdings speaking on the company’s vision, said, “We aspire to become the leading end-to-end financial services provider for businesses and individuals in our country and region.”

Omiyi stressed the strategic focus on fintech, emphasising the need for a solution-driven orchestrator platform that invited partners to create a comprehensive ecosystem.

He said, “As you may know, we have subsidiaries dedicated to this mission, including banking, pensions, insurance, and asset management. Within our group, we have well-defined divisions.

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“We recognised the need for a fintech platform. This platform could catalyse the next wave of growth in the financial services sector, benefiting businesses, consumers, and technology enthusiasts alike.

“We understood the potential of fintech in revolutionising our society’s financial services. Thus, we decided that our finTech initiative should be a solution-driven orchestrator platform.”

Instead of entering existing markets, he said it invited partners to join it in creating a comprehensive ecosystem.

Folake Balogun

Folake Balogun is a technology journalist covering the evolving digital economy, with a focus on startup ecosystems, fintech innovation, artificial Intelligence, venture capital, and emerging technologies. Her work explores the intersection of technology, business, and society by highlighting how innovations such as artificial intelligence and next-generation connectivity are shaping everyday life and economic growth across the African continent and globally. She is a sixth cohort participant in the Technology and Digital Reporting training hosted by the Media Career Development Network in partnership with the U.S. Consulate General, Lagos. Folake is also a Fellow of the Tax Justice and Equity Project (2023 Cohort) by the International Centre for Investigative Reporting (ICIR) with the support of the International Budget Partnership. Through her reporting and analysis, she continues to spotlight the people, ideas, and technologies driving digital transformation.