Lagos - Diamond Bank has signed a Memorandum of Understanding (MOU) with MTN Nigeria to launch its Diamond Y'ello account on the telecoms firm's platform.
The financial firm aims to promote its new hybrid account using MTN's wide coverage in the country.
The Diamond Y’ello Account allows customers to open a Diamond Bank account conveniently from their MTN lines.
The account also offers interest earning benefits as well as access to micro credit and an unparalleled combo of financial, telecom, loyalty and lifestyle benefits.
In addition, customers will enjoy friendly call rates and earn loyalty points as they carry out transactions.
Chief Executive Officer of Diamond Bank, Dr Alex Otti, said that one of the major benefits of the Diamond Y’ello Account is that as soon as a customer opens the account from their mobile phones, transactions are done with ease and convenience via their mobile phones.
"With MTN's nearly 100 per cent mobile phone penetration in Nigeria, many more un-banked and under banked Nigerians, regardless of their location, can now enjoy access to banking with this novel service," he said.
Speaking on the partnership, Chief Executive Officer of MTN, Michael Ikpoki, said, "We are absolutely delighted once again to be offering our existing and potential subscribers a new and innovative product that will most definitely change their life styles and the way they manage their finances.
"We are really excited about Diamond Y’ello Account, and we plan to make use of our existing network and infrastructure all over the country to ensure that we reach as many people as possible especially those who do not have access to banking services,” he said.
- CAJ News