Stanbic IBTC Bank said it would continue to provide banking support for small businesses in the country as it unveiled a digital solution scheme to ensure strong and viable operations in the sub-sector.

The development, according to the bank, is a unique value proposition to support SMEs with transactional products; savings and investment solutions; lending products; payment solutions; and wealth protection solutions underpinned by an investment in technology, which is designed to make banking easier for SMEs.

The bank recently launched an Internet banking offering specifically for SMEs like the BizDirect, a personalised digital banking platform.

The Acting Head, SME Banking, Stanbic IBTC Bank, Obinna Ukachukwu, said: “The SME BizDirect is a multi-channel virtual business centre that avails the SME operator a personalized channel through which to engage the bank when the need arises.

“To help clients improve operations, we believe a migration to digital banking will reduce the challenges faced by customers and help them run more efficient businesses”.

He added that, instead of spending time to “visit our branches, we have created a platform called SME BizDirect for customers to fulfill their banking transactions by telephone and email.”

The SME BizDirect allows businesses in the country as well as anywhere in the world to interact with the bank, while the virtual centre is manned by well-trained bankers.

The Head of Business Banking at Stanbic IBTC, Anya Duroha, also said: “SME BizDirect will change how banks interact with their clients. The era of depending on physical branches to serve clients is disappearing, and technology will be the major driver of customer engagement in the future.”

According to him, information is critical to business success and through the solution, operators are now better informed on developments within their business environment, which enables them make effective planning.