Diamond Bank lists loan conditions for SMEs

Diamond Bank Plc, Nigeria’s leading commercial bank has listed requirements that prospective and existing entrepreneurs in the micro, small and medium scale enterprises (MSME) sector of the Nigerian economy should possesses in order to attract loans.

Mr. Chima Nnadozie, Head, MSME Propositions of Diamond Bank disclosed this in Calabar, the Cross River state capital recently while addressing participants at the 28th Diamond BusinessXpress Enterprise Series.

He said for MSMEs to attract loans from the bank, the entrepreneur should have an account with the bank, invest in the business and have a location from which it operates, remarking that collateral security which used to be a big issue in loan consideration and approval was no longer the case.

Mr. Nnadozie said the Diamond BusinessXpress Account (DBXA) is a current account   tailored to meet the needs of MSME such as hotels, supermarkets, businessmen, professionals, travel agencies, trading outfits, schools, churches, fast food outlets, restaurants, clubs and entertainment outfits.

He said DBXA account is available in three variants: Starter, growing and established; adding that it was designed to add value to micro, small and medium scale enterprises so that entrepreneurs could grow their business with smart banking.

The features and benefits of the account are zero COT, invitation to business development seminars, fixed monthly fee as low as N1,750, easy access to business loans, personal credit cards and access to a personal website at a discounted price amongst a host of others.

Earlier in a lecture titled “Starting Big with the Minimal”, Mr. John Bassey, chairman/CEO, Habitare Group,  a design and building construction firm, listed seven steps to owning a business as: develop a product, package the product, write a business plan, bootstrap the business, moonlighting, get the best help for free and follow the money.

According to him, every great product started as an idea, but not every great idea became a great product, adding that the best product is that which is developed by research.

He defined an entrepreneur as a person who actively form or lead his or her own business and nurture it for growth and prosperity, adding that entrepreneurship is the process of creating something new of value by devoting the necessary time and effort.

He listed some of the qualities of an entrepreneur as initiative, ability see and seize the opportunity, persistence, risk taker, goal setter and goal getter, dedication, networking, driven by excellence, ability to research, planning and self-confidence.

Also speaking, Mr. John Ekpikhe, senior consultant with Mark-George Consultants who made a presentation on business planning explained that before an entrepreneur starts a business, there is need for him to do research on the business and set his goals. He said a business plan was imperative because it is the document that banks and other investors would look at to determine whether to invest in it or not.

Millward Brown Identifies Top 10 Emerging Digital Trends for 2013

Millward Brown, a global research agency, has released its annual top 10 digital and media predictions, highlighting growing trends in the media sector.

Among other trends, ‘Millward Brown’s Futures Group’ believes that the emergence of “mobile as remote” will make it a central pillar of smart communication plans; that omnichannel marketing will help brands build on meaningful moments of engagement, and that social TV will grow up and become part of the narrative rather than a conversation about the narrative.

Global Brand Director for Digital at Millward Brown, Duncan Southgate, said the group expects 2013 to be another dynamic year for online display, mobile and social media.

“Consumers have ever higher expectations of intelligent digital advertising approaches, and marketers will need to deliver more sophisticated campaigns to keep pace with what works.

“With increased power and capabilities, our mobile devices become the remote controls of our lives allowing not only active control of electronics, but seamless integration of the world around us. The new functionality of our mobile “remotes” utilises advanced technology to simplify our lives. Anything that needs a processor to operate can use a smartphone as the “brains.” Brands need to start developing communication plans that adapt to this world. With mobile as the hub, information gathering becomes more centralised as consumers’ trade personal information for convenience and access to events, offers and premium content”.  

Speaking further, he stated that “Omnichannel marketing is about being present or available across the consumer’s behavioural path: each potential contact point integrated with all others. The digital arena will represent the first stage of more brands adopting an omnichannel mindset as social and mobile data sources are blended with offline brand experiences.

“In 2013 the green shoots of omnichannel strategies will involve companies turning existing datasets into active targeting engines. As mobile ad-serving platforms mature this will transition from social apps into ads running across any mobile content. As well as receiving location data, mobiles have the potential to inform nearby digital screens – Minority Report-style tailored out of home advertising content may not be so far away”

Contrary to predictions that the digital age would drag people away from television, he pointed out that TV is still being watched than ever and that people’s viewing experience is being enriched rather than eroded by social networks and dedicated social TV apps like Zeebox.

Diamond Bank becomes Nigeria’s first bank to implement instant account opening

 Diamond Bank Plc, has announced that as part of the initiatives to provide better customer service and expedite customer facing processes, it has successfully implemented BPM (Business Process Management solution) from Newgen Software Technologies.

This implementation has enabled the bank in end-to-end automation of the Account Opening and Account Management processes, which in turn would enable to provide improved customer service within shortest possible TAT (turnaround time).

On this occasion the bank also launched its latest innovation whereby the bank’s sales staff would be able to open accounts instantly, using their Tablets. Diamond Bank becomes the first ever bank in Nigeria to provide this service.

Speaking on the occasion, Dr.Alex Otti, Group Managing Director, Diamond Bank said, “This initiative further substantiates our position as a leader in retail banking. The implementation of Tablet based Account Opening reinforces Diamond Bank’s position as a innovator and a technology driven bank.”

Speaking on the occasion also, Mr. Premier Oiwoh (Head IT & Operators, Diamond Bank) added “We chose Newgen based on its proven track record in the BPM space and its focus on African market. Based on our deliberation with various solution providers, we felt Newgen products and implementation pedigree met our needs perfectly,” he added.

L-R: Mrs. Caroline Anyanwu, Executive Director, Risk Management of Diamond Bank Plc; Vivek Bhatnagar, AVP & Business Head EMEA of Newgen Software Technologies Limited; Dr. Alex Otti, GMD/CEO, Abdulrahman Yinusa Executive Director/ Chie Financial Officer, both of Diamond of Diamond Bank and Bindesh Pandey, Business Development Manager of Newgen Software Technologies Limited at a press conference on Diamond Integrated Solutions (DIS) in Lagos yesterday. 

Speaking on the significance of this implementation, Mr. Vivek Bhatnagar (Vice President Newgen Software) said, “We are happy to partner with Diamond Bank, in its quest for transformation and achieving operational excellence. Newgen’s BPM offerings will help the bank to centralize the back-office processes, in a seamlessly automated environment.”

“It will also pave the way for faster customer acquisition and excellence in service delivery besides helping the bank reduce operating costs,” he added.

Mr. Bhatnagar also said that the implementation was delivered jointly by Newgen and its local partner FASYL Nigeria. He added that “we, at Newgen, put strong emphasis on utilization of local resources in implementation and post implementation support phase.”

Speaking on occasion, Mr. Sola Akinbade (MD, FASYL Nigeria) said “We are happy to be part of this journey with Diamond Bank, along with our partner’s Newgen”. He added that FASYL has been consistently building up capacity to support Newgen BPM installations, in order to provide local support.

//Ends.

 

About Diamond

 

Diamond Bank Plc is one of Nigeria’s foremost banks, providing comprehensive banking and other financial services to corporate and individual customers across Nigeria and Africa.  The bank also pioneered online real-time banking in 1992 with the introduction of DIBS, the Diamond Integrated Banking System, which enabled customers to conduct banking transactions online real-time from anywhere in Nigeria. The bank has remained a leader in technological innovations and customer service since then

 

About Newgen

 

Newgen Software Technologies Limited is a leading global provider of  Business Process Management (BPM), Enterprise Content management (ECM) and Customer Communication Management, with a global footprint of 900 installations in over 50 countries with large, mission-critical solutions deployed at the world's leading Banks, Insurance firms,  BPO’s, Healthcare Organizations, Government, Telecom Companies & Shared Service Centers.

Newgen’s Quality Systems are certified against ISO 9001:2008 and Information Security Standard, ISO 27001:2005.

L-R: Vivek Bhatnagar, AVP & Business Head EMEA of Newgen Software Technologies Limited; Dr. Alex Otti, GMD/CEO and Abdulrahman Yinusa Executive Director/ Chief Financial Officer (CFO) both of Diamond Bank Plc at a press conference on Diamond Integrated Solutions (DIS) in Lagos yesterday. 

 

Diamond Bank appoints TPT International

Lagos, Nigeria, 30 November, 2012: Diamond Bank Plc, a leading financial institution in Nigeria has appointed TPT international as its PR agency.

The agency emerged from a highly competitive pitch process that involved four of top leading PR agencies selected for the pitch. Other companies include The Quadrant Company Nigeria, Mediacraft Associates, and C&F Portal Novelli.

TPT emerged the preferred based on its creative direction during the pitch and its clear interpretation of the brief. Indeed it was a very keen contest according to our sources as all the agencies gave a good account of themselves.

Industry analysts have commended the management of the bank for engaging consultants in various aspects of the bank which shows that the bank is very futuristic in a country where some banks find it difficult to understand the importance of hiring professionals and this will influence its going forward as a futuristic bank.

 According to Modupe Adetokunbo, the founder and chief consultant of TPT International, this appointment offers his team the opportunity to once again partner with a futuristic and innovative bank in delivering a desirable corporate perception. The bank will definitely benefit from our rich experience in PR practice as well as our creative approach to perception management.

Diamond Bank is a commercial bank, offering a full range of banking products and services in retail, corporate and investment banking. The business is based on strong, enduring relationships and is driven by innovation and leading edge technology.

The marketing/business development function of the bank is organised in a way that enables it service its clients in the various market segments optimally.

The appointment of TPT International came on the heels of the recent transformation in the Nigerian banking industry as an aftermath of the global financial crisis which made the Central Bank of Nigeria (CBN) to intervene in the management of about eight banks as well as the promulgation of     policies measures to strengthen the industry.

TPT International Limited is a full-service public relations firm maintaining practice areas in media relations, crisis management, brand PR, corporate communications, lobbying, lifestyle, fashion, strategic counselling, Information communications technology, social media and entertainment among others.

The agency is known for conceptualizing and implementing innovative and bespoke public relations programmes designed to generate desirable media interest and exposure and thereby impact a clients' specific business goals and objectives.

TPT understands that an effective way of grabbing the attention of the media and ensuring multi-angled reportage is by engaging them in a captive environment spiced with informal interactions and constructive networking.

TPT started business in February 1998 with only one client, Rothmans of Pall Mall and has since grown into the leading public relations solutions provider to top brands that spread across various sectors of the Nigerian economy.

In recognition of its performance, it has won the PR Company of the year award six times in the last ten years.

It also pride itself  on the diversity of its client roster, with experience including the Federal Government of Nigeria, Cross Rivers State, BAT, Pfizer, FinBank, Lagos Lotto, Guinness Nigeria Plc, Procter & Gamble West Africa, British Council, MTN Foundation, Starcomms, Mastercard, IBM,  Promasidor Nigeria Limited and many others.

Loya milk picks Don Jazzy as brand ambassador as it kicks off new promo

 Lagos, Nigeria 01 December, 2012: Promasidor Nigeria, makers of quality food products, has chosen Michael Collins Ajereh also known as Don Jazzy as the face of its Loya Milk brand.
At the unveiling ceremony, the company also commenced an online based promo to give consumers an opportunity to feature in a Loya TV commercial with Don Jazzy.
The Commercial Director, Promasidor Nigeria, Mr. Kachi Onubogu while disclosing reasons for selecting Don Jazzy as brand ambassador for Loya Milk, said a brand ambassador will help the brand further reach its target audience.

“Our choice of Don Jazzy as brand ambassador is driven by the essence of the brand and its proposition to its target audience.  Loya Premium Milk is a brand with class and taste; it is a brand with distinction and excellence, a brand that constantly rewards its loyal consumers. ”

Speaking on the promo mechanics, Onubogu made known that Loya milk will begin an online promo new that will run from December 1st till December 31st.

“From today, December 1st till 31st December Loya milk will start a new promo. It is going to be an online promo. All consumer needs to do is to like us on www.facebook.com/loyamilk or log on to the promo site www.tasteyourdream.com where they will enter their details name, phone number and e-mail address. Each winner will walk away with a Samsung Galaxy S3 Smartphone, a night in an hotel and also an opportunity to be in a Loya TV commercial with Don Jazzy.”

He further made known that the brand Loya Milk is one that stands out as best in the industry and is loved by consumers.

“Loya Milk is a brand that is loved and well respected by consumers. It is known to be a brand that never hesitates to give back to its consumers. It is to be recalled that in 2011, the brand rewarded its consumers with a total of N50m in a promo that lasted for about 90 days.

Known for being charitable, Don Jazzy, the new brand ambassador is a multi award-winning Nigerian record producer, singer/songwriter, and current CEO of the Mavin Records label.

Recently rated as the 36th ‘Most powerful celebrity in Africa’ by Forbes, he is an avid user of social networking sites with Twitter being his top. Don Jazzy has over 200, 000 followers and noted for giving birthday shout-outs to fans, airtime recharge cards, and even money via Twitter.

Loya is a premium milk brand on the stable of  Promasidor. It's brand promise is to deliver consistent, premium quality milk powder that assists in keeping the family strong and healthy and contains calcium, proteins and Vitamins A and D, essential for the growth of a healthy body.

The high calcium milk was re-launched in October 2010 to reposition it as a premium offering in the Nigerian milk market, It is targeted at stylish and sophisticated women who seek the best in quality.

Diamond Bank Launches Mobile Banking Truck, Diamond–in–Motion

Diamond Bank Plc, one of the leading commercial banks in Nigeria has launched a first of its kind mobile banking truck in the country in a bid to bring banking services to the door step of its existing and potential customers.

The new service tagged Diamond–in–Motion was launched yesterday at its corporate headquarters in Lagos by the Group Managing Director/CEO, Dr. Alex Otti. Under the service, customers can open new accounts, pay bills, save money, use ATM as well as make cash/cheque deposits and withdrawals.  Dr. Otti describes the mobile truck as “a full-fledged bank in motion.”

Mr. Olumide Akindele, Head Proposition and Liabilities of Diamond Bank Diamond–in–Motion is part of the bank’s strategy to take banking to the customers, adding that it will afford them the convenience and opportunity to do transactions with ease.

He said the bank planned to acquire about 250 additional units of the truck for nationwide rollout as part of strategy to serve the unbanked population

Also speaking on the new service, Mr. Steve Obiago, Head Information Technology Operations described it as a moving branch fortified with the latest technology.

Obiago who said the initiative was part of the bank’s strategy to drive the Central Bank of Nigeria’s (CBN) cashless policy, added that it could be moved anywhere and customers would be able to utilise it in any location.

He said the service was done in collaboration with service providers and it could be moved to streets, remote villages and it is fully secured for both those working in it as well as the money in transit.


Diamond Bank is a commercial bank, offering a full range of banking products and services in retail, corporate and investment banking. The business is based on strong, enduring relationships and is driven by innovation and leading edge technology.

The marketing/business development function of the bank is organised in a way that enables it service its clients in the various market segments optimally.

Also, the bank has changed its signage design to conform to its newly refreshed identity. The new signage prototype was also unveiled yesterday,

The bank had recently launched a new logo with multiple colours of red, green, blue and orange encrypted on the diamond logo different from the ash coloured logo used before, to make it more visible and brighter.

Dr. Alex Otti, Group Managing Director and Chief Executive Officer had noted then, “What we have done with our corporate identity is to refresh elements of our brand look and feel to identify with our growing customer base and usher in a period of renewed focus and commitment to our business.”

He said, “Our colours reflect the bright optimistic colours of the Diamond spectrum using green as a base colour with complimentary colours of red, orange and blue. For us, the green symbolizes growth, red stands for vibrancy, orange illustrates ‘passion’ of our people and the blue symbolizes our commitment to innovation in our products and services.”

Telecoms recorded highest ad spend in 2011

Lagos, Nigeria, 06 November 2012: Telecommunications product category recorded the highest spend of N20.118 billion out of a total of N102.755 billion spent in Above- The- Line in 2011, followed by Personal Paid announcement with N8.654 while Entertainment, Leisure & Tourism was third in the product category with N5.976 billion.

Mediafacts, an annual publication of MediaReach OMD, Nigeria’s most influential media independent agency disclosed this in its 2011 edition which was released today.

It said in the telecommunications product category, MTN topped the list with N6.381 billion followed by Globacom which spent N5.704 billion while Etisalat and Airtel spent N4.255 billion and N3.439 billion respectively, adding that all the four brands topped the list of the top 20 brands in terms of ad spend last year.
The publication also noted that television advertising amounted to N46.076 billion as against the N39.656 billion recorded in 2010, radio recorded N13.142 billion as against N12.807 billion spent in 2010, the print media had N15.395 billion lesser than the N16.524 spent in 2010 while outdoor expenditure was N28.142 billion, lesser than N28.562 spent in 2010.

The report also noted that, Nigeria has the potential to build a prosperous economy with its large reserves of human and natural resources, adding that Nigeria witness major changes in the economic sector in 2011 some of which were the Federal Government amnesty programme that resulted in higher oil production, growth in the insurance sector and consistent growth in the telecommunication sector amongst others.

Mediafacts 2011, published in one volume in English and French contains media trend information on nine West African countries and three central African countries. This covers some of the countries where Media Reach OMD operates.

Media Reach OMD is a specialist media company that provides a host of media-related services to advertisers and or their representatives. Its services include communications and media planning, media strategy developments and implementation buying and control services among others and its business offices are located in Nigeria, Ghana and Cameroon.

Since March 1999, MediaReach OMD has steadily grown to become a highly reputed firm within the marketing communications’ services industry and a respected member of the OMD global network
The company believes in powerful ideas, driven by meaningful insight to deliver compelling results.

Mr. Tolu Ogunkoya, Managing Director and Chief Executive Officer of MediaReach OMD said, “We understand that creativity is the sustainable source of differentiation and competitive advantage for ourselves and our clients. We pride ourselves on delivering innovative media solutions to our clients’ marketing challenges at the keenest possible prices.”

OMD, the parent company of MediaReach OMD is one of the largest and most influential media communications specialists in the world.