Stanbic IBTC Bank, others Bag Awards

The Nigerian Financial Technology Awards have recognized and rewarded various financial institutions at the maiden edition of the awards hosted by financialtechnology magazine in Lagos.

The awards was to confirm the high level of innovation and excellence in the financial technology services as displayed by the banks, financial institutions, vendors and individuals in the outgoing year, in the provision of financial services via the use of technology.

Major financial institutions, mobile money operators, pension scheme and electronic card payments firm were nominated for awards but the bank with the most awards was Stanbic IBTC, which won in three different categories; Interswitch carted away four of the awards.

Stanbic IBTC won in the best use of IT in the mobile payment category (bank focused) that went to the bank with the best use of mobile platform for provision of banking services, best use of IT in credit services category that was given to the financial institution with the best innovative approach IT to the provision of credit services and best use of IT in remittance services that was awarded to the financial institution with the best innovative IT approach to pension services.

According to Sola Fanawopo, editor-in-chief of financialtechnology magazine, “Stanbic IBTC was quite focused in its approach to the use of information technology for the deployment of its mobile money and its marketing” and added that the various categories were keenly contested.

Interswitch, a financial service firm carted away most prizes as the company won the IT personality of the year (male), outstanding innovative new product category, outstanding mobile payment product and the outstanding payments card product.

The IT personality of the year (male) went to Mitchell Elegbe, MD/CEO, Interswitch for his contribution to the institutions IT and systems strategy through effective leadership.

The company won in the outstanding innovative new product category, which went to the organization that provides convenient access to array of services such as recharge bill payments, donations and state government payments.

This was won by Quickteller for giving “Nigerians convenient across array of services such as recharge bill payments, donations and state government payments”.

It won again in outstanding mobile payment product, for offering “subscribers including those without bank accounts to have convenient, secure and fast way of settling bills and making payments for goods and services through Verve M-PIN”.

To round off the award night, the company won again in the outstanding payments card product category for “competing favourably with global brands while maintaining huge market share through Verve chip & PIN card”.

Over 50 nominees including local and international brands such as First Bank, GTB, Interswitch, Paga, Afripay, Federal Inland Revenue Services and MasterCard among others participated in the awards.

Fanawopo said the awards passed through rigorous process before arriving at the names of nominees and the eventual winners.

“As a pointer, we had credible members of jury, which was headed by Mac Atasie, MD/CEO of Nextzon. With the awards, we believed we have motivated various stakeholders in the e-payments industry to continually strive for excellence,” he said.

The awards rewarded and recognized innovations and excellence in IT activities in the financial banking, insurance, microfinance industry and capital market and this is to commemorate the fifth year anniversary of financialtechnology magazine.