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Heritage Bank Raises Octopus Transaction Limits to N200,000

**Deepens Full Steam Retail Banking

By Modupe Gbadeyanka

The transaction limits on the new advanced intelligent digital platform of Heritage Bank known as Octopus have been increased by the financial institution.

In a statement, the lender said the new daily transaction limit on the Octopus platform is N200,000 for Heritage Bank registered users.

Explaining the reason for this upward review, Heritage Bank stressed that it was part of its strategies to meet customers’ needs and revolutionalise the banking sector.

The bank explained further that other banks registered users will be able to transact on the platform within limits assigned their debit cards by their respective financial institutions.

To give a voice to this, MD/CEO of Heritage Bank, Mr Ifie Sekibo, described Octopus as “the best opportunity to experience a true, out-of-this world digital experience available across major platforms. Understand that this new adventure does everything differently!”

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According to him, the platform is an intelligent digital experience that combines digital transactions and a community lifestyle that empowers customers with the power to build their world and perform digital transactions how they want.

However, on deepening its retail banking structure, he further explained that the bank has continued to set standard in the launching of ‘Corner Shop’ to cater for the need of traders and artisans at different locations across the country.

According to him, the shop is aimed at giving the unbanked, especially in the rural areas the opportunity to enjoy financial services without the risk and stress of walking kilometres in order to visit a bank branch.

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Mr Sekibo however, remarked that the bank was committed to deploying its resources towards the delivery of innovative banking solutions to its customers as well as create and transfer wealth to all its stakeholders.

Meanwhile, Heritage Bank has restated commitment through its growth strategy to deepen its full stream retail banking franchise to match the rapidly changing needs of its customer, as well give the unbanked, especially in the rural areas the opportunity to enjoy seamless financial services.

Mr Sekibo said the bank will continue to grow by appealing to key client segments especially in the retail space and also focus on under-penetrated banking segments while building loyalty amongst the bank’s existing customer base.

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According to Mr Sekibo, one of the ambitions of the institution in the 2019 financial year is to emerge as a systemic important bank in the Nigerian banking industry, which remains its underlying corporate growth strategy.

The bank’s helmsman said Heritage Bank was committed to building an enduring and resilient banking franchise in the country, affirming that the bank was on a growth track and was not unmindful of the headwinds facing the political and economic environments.

Mr Sekibo stressed that the bank will continue to pursue its strategic aspiration of not only being stable but also being sustainable in earnings and profitability in its growth plan. “We are very optimistic that the Heritage Brand will continue to soar over the current economic tide through its collective efforts to remain an enduring institution,” he stated.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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