A core part of Polaris Bank’s digital strategy is to positively re-write the current state of financial exclusion across the nation. To this effect, Polaris bank introduces ‘SurePadi’, its Agency banking solution as an avenue to further achieve this goal.
According to reports, ‘SurePadi’, was designed to make every day banking services, access to funds available, convenient and accessible to more of the Nigerian population at a reasonable cost through partnerships with retail outlets, especially residents in seemingly far-flung remote residences.
Results from research states one of the factors militating against Nigeria’s financial exclusion rate to be accessibility to financial service points.
According to the Chief Digital Officer, Polaris Bank:
“The introduction of ‘SurePadi’ is in line with our plan to deepen financial inclusion by serving the huge un-banked and under banked population especially in locations where basic banking services are far from reach.”
“With Nigeria’s financial exclusion rate currently at 36.8 per cent according to CBN, the goal of achieving 20 per cent this year to close the exclusion gap of 16.8 per cent is also a factor driving our ‘SurePadi’ ‘banking solution.
“The ‘SurePadi’ banking solution is also one of the ways we are helping to reduce unemployment in the country because when you sign up as an agent; one of the benefits is that it provides a means of earning additional disposable income.”
The agency banking service which is beginning to gain currency in Nigeria is a stress-free medium of providing limited banking services to customers through the use of agents who are usually non-traditional bankers or banking businesses. Hence, Polaris Bank introduces ‘SurePadi’ to further bridge the existing gap as regards financial inclusion in the country.
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