LOTUS honoured at innovation award

LOTUS Bank, one of Nigeria’s non-interest bank, has been awarded the ‘Best Financial Inclusion Initiative and Debit Card of the Year’ at the Global Retail Banking Innovation Awards 2024 held in Singapore.

Also, the bank has received the ‘Ethical Banking Leadership Award of the Year’ at the BAFI Awards. The awards celebrated LOTUS Bank’s commitment to innovation in financial services and its dedication to ethical banking practices that prioritise the needs of all customers.

LOTUS Bank true to its mission has 56 footprints all over Nigeria. Kafilat Araoye, the managing director, expressed pride in these achievements, stating: “We are honoured to receive these awards, which validate our efforts to make banking accessible for everyone. Our team’s dedication to developing products that cater to the needs of diverse communities drives our mission forward.

“Winning the Ethical Leadership Award at BusinessDay’s Banks and other Financial Institution Awards (BAFI) is particularly significant for us. It underscores our commitment to transparency and integrity in all our operations. We believe that ethical banking is essential for sustainable growth, and we will continue to lead by example in the industry.”

LOTUS Bank’s innovative approach to enhancing access to banking services for underserved communities was highlighted in the Best Financial Inclusion Initiative award. The bank’s flagship debit card program has also been celebrated for its user-friendly features, aimed at empowering clients with greater control over their finances. It was the card used for onboarding athletes from all over Africa at the recent Federation of Africa Students Games (FASU) and the Nigeria Medical Students Association Games (NIMSA) which LOTUS Bank sponsored recently, Araoye stated.