Parallex Bank begins operation, promises innovative services

Nigerian banking space welcomed a new entrant, Parallex Bank after being granted licence by the Central Bank of Nigeria (CBN) to operate as a full commercial bank from its earlier status of a Microfinance bank.

Presenting the bank to stakeholders at the unveiling of its corporate headquarters in Victoria Island, Lagos at the weekend, Managing Director/Chief Executive Officer of the bank, Olufemi Bakre revealed that the bank is ready to revolutionize the banking industry with its innovative services driven by cutting-edge technology.

Bakre also disclosed that while other banks impose maintenance charges on accounts, Parallex Bank would not because it will be leveraging the best talents and technology to deliver unparalleled value to all its stakeholders.

The CEO stated that with Parallex Bank, customers can make five transfers across its online mobile platform daily, and 50 in a month without paying any charges at all. He also added that the bank would give 5 percent interest on deposits by customers not below N100,000 in a current account.

Earlier in her remark, Chairman of the Board of Directors, Dr. Adeola Adejoke Phillips said the vision of the new bank is to be the preferred financial solution provider, not just in the country but in the world.