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Parallex Bank unveils Mobile App version 2.1 with over 200 new features

Published

7 months ago

May 5, 2025

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Parallex Bank has launched Version 2.1 of its mobile banking app, introducing over 200 new features aimed at enhancing customer experience, streamlining financial transactions, and improving digital banking security.

The latest update builds upon the foundation of the successful Version 2.0, delivering an improved interface with faster load times, smoother navigation, and more intuitive service access.

According to the bank, the new version reflects its ongoing commitment to innovation and customer-centric digital banking.

In a statement announcing the launch, Managing Director and CEO of Parallex Bank, Dr. Olufemi Bakre, emphasized the institution’s forward-looking approach:

“With each update, we strive to enhance our customers’ banking experience, ensuring our app remains at the forefront of innovation and user satisfaction.”

Enhanced Travel and Payment Capabilities

Among the standout features in Version 2.1 is the integration of travel services. Users can now book both local and international flights, as well as intercity bus trips, directly from the app—bringing convenience to travel planning without needing to switch between platforms.

For financial transactions, the updated app allows customers to schedule both one-time and recurring transfers.

A new bulk transfer option enables users to send money to up to ten recipients simultaneously, a feature designed to support both personal convenience and business needs.

Digital Education and Loan Services

Parallex Bank has also made strides in educational services. Customers can now easily purchase WAEC Result Checker PINs through the app, simplifying access to academic results for students and parents.

In a move to support financial inclusion and easier access to credit, the bank has introduced a digital loan request feature. This allows users to apply for loans seamlessly within the app, with no physical paperwork required.

Security and Virtual Payment Innovation

To address growing concerns around digital payment security, Parallex Bank has launched the Parallex Virtual Card, available in both Verve and Mastercard variants.

The virtual card is designed for safe and flexible online spending, supporting a wide range of platforms including e-commerce sites, streaming services, ride-hailing and food delivery apps, and online learning portals.

This new tool provides customers with enhanced security for online transactions, without exposing physical card details.

Parallex Bank’s Mobile App Version 2.1 is now available for download on the iOS App Store and Google Play Store. Existing users can simply update their current app, while new users can register easily through a streamlined sign-up process.

For additional support, customers are encouraged to visit the Parallex Bank website or use the help section embedded within the mobile app.

With this latest release, Parallex Bank positions itself as a leader in Nigeria’s fast-evolving digital banking space, prioritizing user convenience, financial accessibility, and transaction security.