Parallex Bank launches with promising offers


Parallex bank launches with promising offers

Parallex Bank officially launched operations on Friday, January 14, 2022, it became the latest entrant into the commercial banking industry in Nigeria.

Parallex Bank is the first bank in Nigeria to migrate from a microfinance bank to a commercial bank. The bank’s promise to its customers is to be an enabler of limitless banking.

“The bank will operate broadly with a competitive mindset, to disrupt the market and delight customers with very attractive offers. The goal is to empower the banking public and to drive convenient and efficient commerce through the bank digital platforms,” Philips said.

“The vision of Parallex Bank is to be the preferred financial solution provider redefining the customer experience through innovation,” Bakre said.

“On the app, customers can choose to create their unique account numbers, increase their transfer limits, make five free transfers per day to any bank in Nigeria. They can request free debit cards, which will be delivered to them for free. They will receive prompt responses to enquiries,” he said.

Beyond the app, Bakre added that customers will enjoy zero maintenance fees while current account holders will further enjoy up to a 5 per cent interest rate provided they maintain a minimum average balance of N100,000.

He further stated that the bank will be customer-focused and will operate with the acronym called ‘SEED’, which means, speed, execution, executive support and digital.

Parallax Bank
Parallax Bank

History of Parallex Bank

Parallex Bank Limited was incorporated as a limited liability company on the 22nd day of May 2020, having successfully converted from Parallex Microfinance Bank (a National Microfinance Bank incorporated in 2008 as a Unit MFB) to a commercial bank duly licensed by the Central Bank of Nigeria to carry out commercial banking services. This is a first-of-its-kind achievement in the Nigerian banking space.

At Parallex Bank, we are poised to be the preferred financial solutions provider redefining customer experience through digital innovations. This we will achieve by leveraging the best talents and technology to deliver unparalleled value to our stakeholders. With a strong ecosystem anchored around the customer, we offer a superior product portfolio that is customer-focused and innovative, yet simple.

Parallex Bank is enriched with a workforce of seasoned, dynamic, and visionary professionals with the right mix of skills, expertise, and experience. And this is complemented by a forward-looking Board of Directors.

Parallex Bank is located at the heart of the commercial center of Lagos with strategically placed branches across three geopolitical zones in Nigeria, including the Federal Capital Territory, Abuja.

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