Parallex Microfinance Bank wins Best Internet, Technology Bank Awards

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By odunewuSegun
Nigerian Microfinance bank, Parallex Microfinance Bank has been adjudged the “2015 Best Internet bank as well as the Best Technology bank at the Nigerian Banking Tech Awards 2015.
The Nigerian Banking Tech Awards organized by the Nigerian Interbank Settling System recognizes outstanding finance houses that are fore runners in excellent, especially in the use of technology to enhance the banking system.
While presenting the two awards to the Managing Director/CEO of Parallex Bank, Femi Otenigbagbe, Coordinator of the Nigerian Banking Tech, Aliyu Bello described the bank as one of the most innovative microfinance banks in Nigeria.
“We have over 800 microfinance banks in the country and we have witnessed a lot of transformation in the general banking industry, especially in the leverage of technology as a major tool in enhancing banking activities. Since we have launched the awards in 2004, both commercial and microfinance banks have been kept constantly on their toes on the importance of technology, and we are pleased with the activities of Parallex Microfinance in these areas”
Speaking further, Bello said there is no room for complacency because there is much room for growth and development to achieve the transformation we all desire and work towards.“I am delighted to seeParallex Microfinance carting home two of the prestigious awards, and I hope the bank will not rest on its oars in ensuring that it continues to set the pace in the area of technology leverage among other microfinance banks in the country,” he added.
Accepting the award, Otenigbagbe, said Parallex Microfinance bank has built a reputable institution which has consistently adopts implements and applies international best practices in service delivery and value creation for all its customers.
“We are delighted to receive these awards which affirmParallex Microfinance Bank’s position as one of the leading micro finance banks in Nigeria whilst also reiterating and confirming our commitment to professionalism, integrity, quality service delivery to our customers,” he said.
According to him,Parallex Microfinance Bank, right from inception, recognises the importance of technology in service delivery, and has therefore been at the fore front. “ICT is the new face of microfinance banking in Nigeria. At Parallex Bank, we are always a step ahead of other microfinance banks in the area of technology leverage,”Otenigbagbe explained
Otenigbagbe said his bank has always maintained a personal relationship with all its customers through the use of technology.“We are constantly developing applications that will make banking more attractive to the market women by bringing the service to them at the market”.
Speaking further, Otenigbagbe said Parallex Microfinance Bank has got a window for mobile PoS which he said would be deployed to the market for easy access to banking services for market women.

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  1. thank you for this report. parallex Mfb is a trend setter in the technology adoption in the banking industry. however the event was not organised by NIBSS as stated in your report.
    the banking technology awards has its chairman of advisory council from the Nigerian Interbank settlement system.
    thank you

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