TajBank Limited has revealed plans to unveil a digital banking application developed by Nigerian software engineers, a move aimed at attracting more customers to its platforms as it seeks to grow its operations nationwide.
TAJBank Limited, founded in 2019, is a bank in Nigeria operating under Islamic banking principles and is a non-interest bank.
Radarr Africa, reported the Central Bank of Nigeria (CBN) gave a national license to TAJBank Limited, to operate and carry out nationwide banking in the country.
The Managing Director, Hamid Joda, said Tuesday in Abuja, “We’re launching our digital bank; it’s the first of its kind in Nigeria and it was developed locally by some young Nigerians. The features it has can compete with any other digital bank in the world.
We’re taking it to the public hopefully in September or October, as we’re waiting for some regulatory approvals. The digital bank is mainly for young people to come on board, and we need the media to tell the story.”
The bank recorded some significant strides in the banking sector amid disruptions by the COVID-19 pandemic.
“2019 was a tough year as we faced the COVID-19 challenge. For a startup, it was an extremely difficult year, but thanks to God, we were able to surmount the challenges and we broke even in our 8 months of existence.
Apart from that, we were able to wipe up operating expenses in our first year of business and we recorded profit in the first year as well, which is quite unusual in the banking sector.
Source: Techeconomy
