By Dipo Olowookere
A ground-breaking product, ‘CashToken’, a new age of hyper consumer centricity in Nigeria, has been launched by the nation’s fastest growing financial institution, Keystone Bank Limited.
The product was unveiled in Lagos on Thursday, April 19, 2018, in partnership with a ‘Cash Reward as-a-Service firm, CeLD Innovations Limited.
During the launch at a conference tagged ‘500 Top CEOs Conference – Unleashing the Age of Hyper Consumer Centricity,’ the lender explained that ‘CashToken’ is an electronic reward and celebratory gift commodity which costs only N30.
The initiative, according to CeLD, creates an avenue for every customer in Nigeria to have an opportunity for life-changing cash rewards every Friday night at the National CashToken draws, to be monitored by Alexander Forbes and audited by Deloitte. The product is designed to optimize customer loyalty investment for business, celebratory gift value optimization and public emotional equity for government.
According to the Group Managing Director/ Chief Executive Officer of Keystone Bank Limited, Mr Obeahon Ohiwerei, “At Keystone Bank, our vision as we begin our trajectory towards industry leadership is the enablement of new possibilities tied to our customer’s innermost desires as we connect our customers to a new era of Hyper Consumer Centricity; where every patronage of our bank is a life changing opportunity.
“And so, the establishment of the World’s First Cash Reward as-a-Service Platform by CeLD is indeed not only most commendable but worthy of strategic support of forward looking businesses; hence the support of the Board of Directors and management of Keystone Bank Limited.
“We have also taken a decision to partner with CeLD to adopt this ground-breaking product, ‘The CashToken’ as a Keystone Bank Customer Loyalty Reward Commodity. We believe every patronage of the bank should be a true life changing-opportunity with guaranteed cash for insurance, pension or savings.”
“We therefore call on all industry leaders, business owners, governments and the celebratory gift industry to join us as we project this great African Innovation to the world stage. We believe that One (1) to Three (3) Billion people will receive CashTokens in five years across the world,” Mr Ohiwerei concluded.
Also speaking at the launch, Mr Leo Stan Ekeh, Chairman of Zinox Technologies Limited said that products like CeLD are the kind of empowerment that today’s startups earnestly require.
“CashToken is the miracle of the 21st Century, and it’s an innovation that makes business faster, and is transparent. It is an innovation that will bring growth to the economy of the country,” Mr Ekeh added.
Other speakers and guests at the launch include: Tunde Irukera (Director General Consumer Protection Council), Lanre Gbajabiamila (DG, National Lottery Regulation Commission), Mitchel Elegbe (GMD, Interswitch Group), Fuad Atanda-Lawal (Chairman Obalende/Ikoyi LCDA), Wale Olokodana (Enterprise Commercial Lead, Microsoft Nigeria), Bello Maigari (Executive Secretary, National Lottery Trust Fund), Alex Okoh (DG, Bureau of Public Enterprise,) and many more.
Summarizing the essence of the epoch-making event, through a concise letter to the CEOs, Mr Lai Labode, Founder and CEO of CeLD Innovations said: “the CashToken idea inspires a new age of HYPER Consumer Centricity, where the reward on every patronage is an incontrovertible life-changing opportunity and development of consumer emotional equity that will ultimately attempt to shape the several and individual preferences of the average consumer in the ever-competitive and volatile business world.”
