By Favour Nnabugwu

Bank of Industry (BOI) has released five digital applications that will enhance development of Small and Medium Enterprises (SMEs) across the nation. The five products include SME Mobile App, SME Accounting Application (SAAPP) Software, Online Loan Application Portal, Loan Application Tracking System, and SME Customer Portal.

Rasheed-Olaoluw-MD-BoI

The digital solutions is to give allow SMEs access the bank’s website at all times and also address SMEs challenges in the digital age while it is expected to also promote entrepreneurial business in the areas of funding and business exposure among SMEs.

Managing Director and Chief Executive Officer of the bank, Mr.Rasheed Olaoluwa, said the products were tailored to address new demand for digital solutions, occasioned by the increase in the number of internet users in the country, which include SME operators.

“As we have re-positioned our systems, processes and services to take advantage of this new digital and mobile world, in order to offer our customers the benefits of speed, mobility and convenience that came with it,” Olaoluwa said.

He disclosed that the bank, in March this year, upgraded its banking application from Equinox to a more robust version called Rubikon, in order to serve its customers better.

Demonstrating how the Mobile Apps works, Group Head, Information and Strategy of the bank, Mr. Thomas Akphororo, said the objective is to provide members of the public, especially entrepreneurs, easy access to information on their mobile phones, about the key activities and products of the bank, as well as how to avail themselves of the bank’s services.

The mobile app gives overview of the bank and what it stands for, the category of customers the bank could assist, as well as list of the bank’s accredited business development service providers, with download features. It also provides news about events concerning the bank and the success stories of the bank and its customers.