Sterling Launches Omni X Platform, Breaks New Ground In Liquidity Management For Corporates

 

In a bid to improve banking experience for non-bank and other financial institutions, corporate clients, UHNIs and HNIs,  Sterling Bank Plc has launched a revolutionary digital platform, named Omni X.

Omni X, an integrated investment and liquidity management platform, presents the Bank's wide range of digital products and service offerings to users. The novel solutions which is configured to enable businesses invest and raise seamlessly also complements Sterling’s existing corporate Internet banking platform.

Mr. Yemi Odubiyi, Executive Director, Corporate and Investment Banking, Sterling Bank, who disclosed this in a statement issued by the Bank said, “Omni X is deliberately designed to offer a simple, easy and effective platform to manage the daily liquidity needs of corporates.”

At a recently held focus group event for captains of industry, the Group Head, Client Coverage and Financial Institutions, Kashetolulope Lawal, highlighted that Omni X would provide convenience to corporate clients by expediting financing decisions, speeding up transaction processing times, automating investment processes, while minimizing the incidence of human errors associated with manual processing to improve customers’ experience and drive business productivity; dovetailing into profitability for users.

“Omni X becomes an imperative solution for corporates across various sectors to invest and raise financing simultaneously where possible due to; the nature of their businesses, the time sensitivity attached to these activities and the culminating desire for an improved solution that does the most in the shortest time possible."

Omni X also incorporates corporate account opening and other services for seamless on-boarding and transaction processing as well as solutions for investments, liquidity management and access to advisory services.

He  also hinted that the platform is designed to simplify the major banking needs of businesses, investments and financing in the financial and other allied services sectors, adding that the innovation is by far more than what any financial institution has done in Nigeria.

Lawal further added that "beyond the vanilla financial services that can be accessed, Omni X will allow organizations achieve corporate account opening, manage investment and collection services, and access financing solutions including but not limited to cash backed and trade settlement loans."

" Omni X as we have designed it, will solve corporates’ concerns on how to invest, finance and make the most of available capital, in as close to real time as possible. It is yet another statement of commitment by Sterling Bank not just to innovative banking, but also to the Nigerian economy. Omni X will improve their productivity and offer services from the viewpoint of an industry leader,” Lawal said.

Sterling Bank Commemorates World Food Day

Sterling Bank Plc has joined the rest of the world to celebrate this year's World Food Day (WFD) as part of its effort to tackle hunger and promote a more food-secure and prosperous Africa.

The day is celebrated on October 16 every year to mark the creation of the Food and Agriculture Organisation (FAO) in 1945. The theme of this year’s celebration is: Our actions are Our Future - Better production, Better Nutrition, a Better Environment and a Better Life.

Commenting on this year’s celebration, Divisional Head, Agric & Solid Minerals Finance, Bukola Awosanya, said in a statement issued by the bank that, “At Sterling Bank, we are more than convinced that agriculture holds the promise for a more food-secure and prosperous Africa and that is why the Bank has selected the sector as one of its areas of strategic focus, dedicating over 10 percent of its entire lending portfolio to it.”

She added that the Bank’s agricultural strategy revolves around Digitisation, Agility and Specialisation - which includes Agriculture. “The Bank’s agric-financing interventions span Pre-Upstream Inputs such as fertiliser, seeds, agrochemicals; and Upstream Primary Production such as crops, livestock, aquaculture, to Midstream Value Addition (i.e. processing) and Downstream (i.e. marketing and trading).   The Bank’s agricultural loan book exceeds $150 million.”

The Divisional [BA1] [OO2] Head said Sterling Bank sees the smallholder farmers segment in the agric sector as strategic to ensuring food security on the continent and that is why the Bank has financed over 80,000 smallholder farmers till date, primarily under input finance for agricultural production activities.

Sterling Bank continues to engage in valued collaboration and development partnerships to enhance access to finance in the micro, small and medium scale agribusinesses in Nigeria. The bank supports youth and women in agriculture through its SWAY-Agfin product. SWAY-Agfin is a specially designed single digit interest fund open to youth and women interested in agribusiness.

The Divisional Head also said the Bank has also championed other interventions such as the Agric Summit Africa (ASA), a yearly event that brings players in the value chain and stakeholders in the agriculture sector together for conversations, deliberations and policy engagements that can drive growth in the industry and facilitate a diverse thought leadership.

Besides, Awosanya noted that SABEX, the Bank’s digital commodities trading and financing ecosystem, is also positioned to unlock efficiency and productivity in the commodities and supply chain ecosystem. This will ultimately drive down cost and food prices, she said.

She remarked that as the theme rightly puts it, “Our actions are our future. If we produce better, we will have a better nutrition, a better environment and a better life. We must act differently; we must act now.”