E-Financial
Zensar Technologies, Agile Financial Technologies Partner for Global BFSI Focused Services
Zensar Technologies, a global software solutions and services provider,has announced a strategic partnership with Agile Financial Technologies (Agile FT), a global leader in the BFSI software solutions space, to strengthen its position in the Banking, Financial Services and Insurance (BFSI) sector.
This partnership will help Zensar and Agile FT optimize proficiency to meet the rapidly growing needs of the sector and continue to remain customer centric by providing them with the industry leading solutions and strong domain expertise.
Ganesh Natarajan, CEO and vice chairman Zensar Technologies, said, “Zensar has a direct presence in Dubai and plans to have multiple centres across the region. This partnership is an important step towards re-emphasizing the significance that the Middle East market plays in Zensar’s growth strategy.”
The Middle East is one of Zensar’s key emerging markets where it has a market leading position in the Enterprise Application space in both Oracle and SAP solutions and has created a strong footprint over the last seven years by engaging with some of the region’s most prestigious Manufacturing, Retail, Real Estate and Healthcare companies.
Zensar Technologies plays a substantial role in providing critical insights towards enabling institutions in becoming more consumer friendly, widening their delivery channels, service accessibility hence gaining a competitive edge.
Kalpesh Desai, CEO, Agile Financial Technologies, said, “We are pleased to announce our global partnership with Zensar who will add their strong domain and delivery skills to our award winning Agilis product suite in the insurance, banking and financial services space. The partnership while adding enormous value to our potential customers will also help us generate a significant thrust in the market. Our teams have been working closely for the past six months to reach a stage of preparedness to launch our joint product and service offering in the Middle East, Africa and the US. Our relationship extends to other markets that Zensar is present in as well, namely the UK, India and APAC regions.”
Sekhar Dash, regional head of Middle East, Zensar Technologies, said, “In our effort to deliver superior value to the Banking, Financial Services and Insurance sector given that a significant portion of the market is product driven, we have partnered with Agile Financial Technologies who have best of breed products for the Insurance value chain, Banks and Financial Services Companies including Lending & Investment Management firms. Our global experience and delivery skills make a perfect fit with Agile FT’s product suite in the regions we operate in. We are now preferred partners for Agile FT in the Middle East, USA, UK, Africa, India and the APAC regions.”
With a customer focused mindset and desire to become a seamless extension of the modern BSFI organizations, Zensar is well-positioned to deliver superior value with its rich service offerings, domain depth and innovative engagement models.
Shefali Khera, COO for Agile FT US & Global SVP & Business head, Agile FT, comments, “We have already begun engaging deeply in multiple accounts and at various levels of demand generation, solution architecture and market penetration. The joint teams have demonstrated high level of teamwork and synergy that makes us ever more excited about this formal partnership going forward.”
Zensar’s business operations for the Middle East stem out of their office in Dubai and will have multiple centres across the Middle East to ensure that they are able to capitalize on the major role the region plays in the overall growth strategy.
Fidelity Bank Plc, one of Nigeria’s leading Tier-1 financial institutions, has announced a remarkable financial performance for the first quarter of 2025, recording a Profit Before Tax (PBT) of N105.8 billion, representing an impressive growth of 167.8% compared to N39.5 billion in Q1 2024.
Mrs. Nneka Onyeali-Ikpe, MD/CEO, Fidelity Bank Plc
The bank’s unaudited financial statements, released on the Nigerian Exchange (NGX) on April 30, 2025, highlight a substantial increase in Gross Earnings, which rose to N315.4 billion, marking a year-on-year growth of 64.2% from N192.1 billion in the same period last year.
Growth in interest income was primarily led by 38.6% yoy (7.4% ytd) expansion in earning assets base, while the increase in non -interest revenue came from FX-related income, trade and commission on banking services, etc., supported by increased customer transactions.
Commenting on the bank’s performance, Dr. Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer of Fidelity Bank Plc, stated, “We started the year with triple-digit growth in profit and sustained the momentum in our earning assets growth.
This performance shows the resilience of our business model and reinforces our confidence in delivering a better result in the 2025 financial year.”
Other areas of the unaudited financial statements, equally show a marked improvement with Total Deposits growing by 11.1% ytd to N6.6tn from N5.9tn in December 2024, driven by 10.6% ytd growth in low-cost deposits to N6.1tn, which represents 92.2% of total customer deposits. Local currency deposits increased by 2.0% ytd while foreign currency deposits increased by 21.4% from $1.9bn in December 2024 to $2.3bn.
Net Loans and Advances increased by 5.0% ytd to N4.6tn. The growth in the bank’s Loan Book was skewed to LCY Loans as cost of risk declined to 0.6% from 1.5% in 2024FY.
“Beginning the year with such positive momentum reinforces our commitment to supporting the growth of individuals and businesses, while enhancing our financial sustainability. As we go into the rest of the year, we remain focused on building a resilient banking franchise with a diversified earnings base,” Onyeali-Ikpe added.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
Securities and Exchange Commission (SEC) has unveiled a technology adoption assessment survey for registered capital market operators as part of efforts to deepen innovation and efficiency in the Nigerian capital market.
In a circular, the SEC stated that the exercise was designed to evaluate the level of adoption of advanced technologies among CMOs operating within the Nigerian capital market.
According to the notice, “The following technology adoption survey is designed by the Commission to assess the adoption of advanced technologies among registered Capital Market Operators.”
The SEC directed all registered operators to log into the e-portal at using their current access credentials to complete the survey. The exercise will run for two weeks, from 5 to 20 May 2025.
Speaking recently on the role of innovation in the capital market, Emomotimi Agama, director-general of the SEC, urged stakeholders to embrace technology as a catalyst for growth, improved transparency, operational efficiency, and market resilience.
He noted that the SEC recognises the emergence of new financial products and services driven by technological advancements, and remains committed to adapting its regulatory framework to meet the evolving needs of the market.
According to him, the commission’s approach to innovation is anchored on three pillars: investor safety, market deepening, and problem-solving aimed at building a robust and efficient capital market ecosystem.
Agama also highlighted the commission’s Regulatory Incubation Programme, which allows fintech startups to operate within a controlled environment for one year while appropriate rules are developed to govern their activities.
He said the programme is part of the SEC’s broader strategy to support innovation while safeguarding market integrity and investor interests.
International Monetary Fund (IMF) ,has confirmed that Nigeria has fully repaid about US$3.4 billion loan it got in April 2020 under the Rapid Financing Instrument to help alleviate the impact of the COVID-19 pandemic and the sharp fall in oil prices.
IMF said the loan has been repaid as of April 30, 2025 in a statement issued in Abuja, Nigeria’s capital on Thursday.
However, IMF said Nigeria is still expected to honour some additional payments in forms of Special Drawing Rights charges hat will amount to US$30 million annually.
“In line with the IMF’s Articles of Agreements, these charges, levied at the SDR interest rate, which is updated at the beginning of each week, apply to the difference between Nigeria’s SDR holdings (SDR 3,164 million) (US$4.3 billion) and its cumulative SDR allocation (SDR 4,027 million) (US$5.5 billion)
“The net payment of the charges stops when Nigeria’s SDR holdings reach the cumulative allocation amount,” IMF said in the statement. Online fitness
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