Nova boosts operations with Intellect Digital Core banking solution

Nova Merchant Bank Limited has announced the adoption of a new banking solution, the Intellect Digital Core (IDC) banking platform to boost its operations and enhance its product offerings to its customers.

The bank, which began operations last year, has embraced this solution in line with its focus of being the dominant leader in the merchant and investment banking sub-sector in the next few years.

Phillips Oduoza, chairman, Nova Merchant Bank, at the weekend, explained that the adoption of the solution aligned with the bank’s goals of enhancing customer satisfaction, while scaling up its services to meet their personalised and individual needs.

The new banking solution, IDC, helps banks accelerate their digital banking and channel transformation journey and comes with a digital 360 proposition with inbuilt design for both Digital Outside and Digital Inside. While the Digital Outside ensures true Omni channel and consistency of customer experience at all touch points, the Digital Inside drives operational excellence.

Oduoza said, “The selection of Intellect Digital Core (IDC) was borne out of the Bank’s philosophy of “New Thinking, New Opportunities”. We wanted a platform, which would empower our clients, offer a superior customer experience and lay a robust digital foundation for our bank. IDC is an open and flexible architecture, which allows us to seamlessly integrate with other systems to offer end-to-end solutions.

“We believe this gives us a platform to build on the creativity of our employees to solve many of the problems facing our customers and serve as a genuine source of competitive advantage,” he said.

He assured customers that armed with the new banking platform, the bank was on its way to generate the momentum necessary to achieve its goals for the coming months, adding, “I have full confidence that if we all imbibe the virtues of the Nova spirit displayed in the implementation of our Core Banking Application, there is no limit to what we can achieve collectively as an institution.”

On his part, Chinedu Ikwudinma, the bank’s chief executive Officer, who commended the accomplishment and milestones that the bank has recorded in its few months of operations, explained that the bank embraced the new CBA in line with its plans for the future.

He said, “We have now transited to a system called intellect. We are the first bank in this country to use the intellect banking platform. Our aim was to identify a solution provider that is geared for the future. If you look at the banking system today, there are lots of developments in terms of digital banking and customer experience that now drive banking activities.

“Many banks are chasing that destination. They are trying to transform themselves along that line. So, we were very keen as a new bank to identify a provider who is already aligned to that from their services,” the MD explained.