Sterling Bank Plc has launched a new mobile banking application known as I-invest, in a bid to encourage people to build a savings and investment culture.
The new application is supported on Android and IOS devices.
The bank disclosed this in a statement thursday.
The Chief Marketing Officer of the bank, Mr. Dapo Martins, explained that the mobile application would provide customer with a secure, fast and convenient way to access investment opportunities hitherto reserved for the elite.
The new application will also provide customers access an array of treasury bill investments to enable them to match their investment maturities with their needs.
â€œSome of the advantages of the application include save time for the customer instead of chasing his account officer around or waiting in the bank.
â€œAlso, any other bank customers can access the offerings through the application.
â€œFor a potential customer to register, he needs to have a BVN number, valid phone number, utility bill, valid means of identification such as driverâ€™s license or national identity card or international passport.
â€œThe registration process takes less than five minutes to conclude but the potential customer needs to take a picture with his smart phone and upload it,â€ the statement added.
It showed that a customer can either fund his account with a debit card or pay at any branch of a bank and his account will be funded real time.
â€œAlso, a customer can top up directly from his mobile banking platform.
â€œIf a customer wants to invest, he will select from the list of available securities, enter the amount to invest and confirm the transaction,â€ it added.
The minimum amount one can invest is N100,000.
â€œInterest accrues daily, while the investment amount and interest will be credited to the customerâ€™s account on maturity.
â€œSimilarly, if a customer wants to withdraw, he will supply his bank details, enter the amount he wants to withdraw, supply the secret answer to his secret question but needs to update his KYC profile.
â€œOn the security of the investment in case the phone of the customer is stolen or lost, the bank said I-Invest application installed on a phone is secured and the money is safe.
â€œThe lender however, advised such a customer to install the application on another phone and log in, click settings and change his password,â€ it added.