Dangote unveils Nigeria’s first Fintech Bank

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According to http://www.premiumtimesng.com/features-and-interviews/209203-aliko-dangote-unveils-nigerias-first-fintech-bank.html
"SunTrust Bank is the first regional bank to receive a new license by the Central Bank of Nigeria (CBN) since 2001 and the first full-fledged financial technology bank in Nigeria.
The Bank is the first commercial bank that runs minimal branches and focuses on electronic channels by offering telephone, mobile and internet banking services."

It will be interesting to see how FinTech Startups and existing banks will respond.

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EDIT:

  1. However as a FINTECH bank, their official website is is built with a commercial wordpress theme
  2. Https//?
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Why do you need many branches when you have Dangote’s money? Please say welcome to the 2016 cousin of DevCom bank or is it SGB!

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I wonder if Dangote is an Investor or just Friend of the Family but its a major push, about damn time, i am interested they are approaching a non physical branch distribution model plus the need for more billionaires to fund tech startups or projects either by setting up VCs or creating funding vehicles.

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People and WordPress what do you have against WordPress, I am so sure that you can run the front-end and marketing side of the site on WordPress and the banking system on any codebase of your choice.

Read this post by Matt (co-founder WordPress and Founder Automattic) on “A Bank Website on WordPress”. Also https? Egbon what data are you passing to the website, just so you know it is like asking for https? on LIB (I am sure you will argue that she has one, well Google gave her for free.
Even almighty GTB has no https:// on their website (http://gtbank.com), if you visit https://gtbank.com it redirects you to their live chat platform where they know that sensitive information may be passed, and their blog http://635.gtbank.com is built on WordPress. It uses a bespoke theme but my best guess is, it uses underscores as its base a starter theme most WordPress themes are built on.

Heritage Bank is guilty of both crimes (I couldn’t think of a better way you would qualify it) as their website is built on WordPress and no https.

I also think Diamond Bank switched to WordPress from Joomla but I can’t check now as they are experiencing downtime (as at the time of writing this).

This begs the question, why is right for a bank to use Joomla(GTBank uses Joomla) and not WordPress?

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I knew there had to be some serious legs for CBN to grant such license.
There’s the fact that the bank is not indigenous, & now Alhaji is in the picture.

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I think this link is more convincing than yours

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Its just a site, which am sure is no way connected (directly) to their backend technologies in anyway. All the need is a site that can be easily updated and maintained and wordpress was built just for that.

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Maybe we can explain it away with our ever helpful buzz-word: MVP

On a more serious note, there’s no cause for concern until money starts flowing through the platform.
For now, it’s nothing more than a billboard of sorts.

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Uhmm, I don’t think the 2 SunTrust banks are related. Same name, different logos.

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Thanks for the clarification, I hope others see it that way and did I tell you about a guy that charges a minimum of $5000 for wordPress development and that that price shoots up to $12,500 if we add discovery and design to the options?

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Double checked now and no, they are unrelated. My bad nomenclature fails

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How much updating will they need if most of the money flowing through belongs to Alhaji Putin?

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If this is the first Fintech Bank then Paga is the 0st? AMsoconfuse

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Paga isn’t a bank in the way that the CBN defines banks. It’s a mobile money service.

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True. Paga is a Financial Institution, but not a bank.

The correct nomenclature is Mobile Money Operator (MMO).

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Lol, more like people hating on CMSs(Drupal, Wordpress, Joomla, etc). Believing that CMS developers are not real developers.

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well they are not. But that still doesn’t mean you shouldn’t use a CMS framework when all you need is a CMS

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Please explain why they are not real developers.
I honestly don’t understand the “hate”. Especially when it comes to WordPress.

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Mind you, there is a difference between downloading a template, changing its content AND building on a starter theme/creating custom template from scratch.

The former may not always involve dev skills but if you do the latter, by all means, you are a dev, just that you are smart and do not want to reinvent the wheel.

Wordpress is not different from Drupal, Joomla, Magento frameworks, etc. Unless, simplicity is now a crime.