RavenBank, a digital bank that uses technology to give individuals fast, safe, dependable, and simple financial services from the comfort of their own homes, launched its product on March 9, 2022.
RavenBank has been working on the product as a digital bank to guarantee it satisfies the needs of its consumers; this product is now mainstream, necessitating a launch to raise public awareness.
Due to the COVID-19 outbreak, traditional banking institutions were forced to close their doors. This impacted the idea to create a banking service that is straightforward and convenient to use without having to visit the bank.
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The digital bank has been in operation since March 2021, with 5,000 users. They currently have over 250,000 users registered. In the near future, they hope to have 300,000 users.
RavenBank also has customers in the diaspora who are Nigerians. Customers must need their National Identification Number (NIN) and Bank Verification Number to register (BVN).
RavenBank offers small businesses overdraft services in addition to rapid banking services (bill payment, transfers, and deposits).
The event was attended by partners and other firms and was headed by Uchenna E. Nnodim, Chairman of RavenBank. Representatives from UBA Bank, Flutterwave, Teamapt, VerifyMe, Wema Bank, and Bluesalt were also in attendance for the event.
Maria Chike Benjamin, a Big Brother Naija season 6 housemate, was also present at the event as RavenBank brand ambassador.
What They Are Saying About The Launch
Mr. Uchenna recognized that the rate of growth has been remarkable, and that word of mouth has aided in the brand success thus far.
According to Jude Okorharen, RavenBank Chief Marketing Officer (CMO), the adaptability of the Raven bird inspired the brand, particularly its name. The Raven bird has the ability to act as a messenger.
RavenBank, he claims, is simple to use and quite quick. He admitted that there had been a few hiccups in the past, but that they were continuously working to correct problems and meet client needs, and that they will continue to do so.
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Jude Okorharen, in response to a question about how secure the bank app is, said that they recognize the importance of security and that “safe, trustworthy, and fast” is one of their keywords. RavenBank wants consumers who are considering switching banks to know that RavenBank platform is secure.
The interest rate on savings, according to the CMO, is 15% per year. For one month, three months, six months, and one year, the interest rates are 0.8, 3, 7, and 15%, respectively.
Prince Obinna Nwachukwu, RavenBank Chief Operations Officer (COO), stated that they wish to know loan applicant creditworthiness, implying that they have been banking with RavenBank for some time. RavenBank is focused on partnering with small businesses and making it easier for them to obtain loans. They have processes in place to make obtaining loans and repaying loans simple.
About RavenBank
RavenBank is a digital bank that leverages technology to give Africans fast, secure, dependable, and simple financial services from the comfort of their own homes. Among the services they provide are:
•Dealing with fiat currency.
•Financial evaluation.
•Bills must be paid.
•Customers are provided with virtual cards.
•Long-term savings with a high rate of return.
