Hope PSBank, a subsidiary of Unified Payment Services Limited and Nigeria’s premier digital-first bank has commenced operations.

The payment service bank has promised seamless digital banking in its bid to drive financial inclusion in the Nigerian banking ecosystem.

The bank has also set a target of a minimum of 10 million customers in its first year of operation.

Speaking at the launch, the Managing Director, Hope PSBank, Mr. Ayotunde Kuponiyi, said the bank was ready to redefine financial and payment services by driving inclusion through the leverage of digital technologies.

Kuponiyi added that setting up of the bank was in line with the objective of the Central Bank of Nigeria to enhance financial inclusion.

He said:

When the inclusion rate in an economy is high, the citizens of that economy will have access to credit/finance, will be able to save, have access to insurance, grow cottage industries, employ more staff, unemployment rate is reduced, the employment citizens are able to pay tax, government will have more revenue to provide infrastructure and this will and generally improve the standard of living of the citizens.

On his firms’ target, he said:

At Hope PSBank, our target in terms of agency is 50,000 in the first year and for customers we are looking at a minimum of 10 million in one year.

He explained further that beyond financial inclusiveness which the bank hopes to achieve, it would serve as a platform to empower the people with many becoming agents thus leading to job creation and alleviation of poverty.

According to him, Hope PSBank offers a competitive edge among its competitors, saying the bank would deliver financial services to customers with ease, convenience, affordability and access unhindered.

This is a bank that leverages technology by bringing financial and payment services as well as tailor-made solutions closer to everyone across different channels regardless of economic or social status and location,

he added.

Also speaking at the launch, the Executive Governor of Lagos State, who was represented by the Commissioner of Finance, Mr. Rabiu Olowo, commended promoters of Hope PSBank for making the dream of a digital bank a reality, stating that the state government is committed to creating enabling environment for such innovation to thrive.

Also, at the event the Minister of Communications and Digital Economy, who was represented by Director General, National Information Technology Development Agency(NITDA), Mr. Kashifu Inuwa Abdullahi, described the launch of Hope PSBank as a game-changer in the banking sector that would not only reduce operational cost drastically but also bring about transformation in the banking system.

Justin Nwosu

Justin Nwosu is the founder and publisher of Flavision. His core interest is in writing unbiased news about Nigeria in particular and Africa in general. He’s a strong adherent of investigative journalism, with a bent on exposing corruption, abuse of power and societal ills.