Nova Merchant Bank live with Intellect Design Arena’s core banking system
Nova Merchant Bank HQ, Lagos, Nigeria
Nova Merchant Bank, a new bank in Nigeria, has implemented the Intellect Digital Core (IDC) core banking system from India-based banking tech provider Intellect Design Arena.
This is the first core banking tech customer for Intellect Design Arena in the country, FinTech Futures understands.
Nova Merchant Bank opened for business last year focusing on merchant and investment banking.
According to Phillips Oduoza, chairman of Nova Merchant Bank, the choice of IDC “was borne out of the bank’s philosophy of ‘New Thinking, New Opportunities’”.
He continues: “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.”
He has high hopes for the start-up bank’s team and technology: “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.”
