Bankly announces new MD, launches 35% high-yield investment product
Months after the launch of Bankly Microfinance Bank, Bankly the popular Fintech company known for payment processing through POS terminals, has announced the appointment of Stephen Amodu as Managing Director of its Banking division. Stephen’s recent appointment comes on the heels of the company’s transition to a holding company structure to position it for better service delivery to customers.
With over 16 years of experience, Stephen Amodu brings extensive knowledge and insights from his time at leading banks such as Union, Sterling, and First Bank. In his most recent role at DotPay, Stephen spearheaded growth and risk management. At Bankly, he will work closely with Tomilola Majekodunmi, the Group CEO and the rest of the team, to transform the personal finance experience for Nigerian consumers through lifestyle banking that moves everyday people forward.
The company also announced InvestPro, an investment product within the Bankly app that offers depositors an inflation-beating interest rate of 35% per annum on the first deposit, and varying rates on subsequent deposits. The product is designed to give back to customers who already have to endure the impact of rising inflation and high interest rates on prices of everyday goods and services. Customers have the option to save over a period that fits their personal preferences ranging from 30 days to 360 days and can access their saved funds anytime. The product also features an instant interest calculator, allowing users to see exactly how much they’ll earn by the end of the chosen investment period.
Stephen Amodu expressed his excitement about joining Bankly at this transformative time, stating, “It’s a privilege to join Bankly, we are currently at the forefront of changing banking as we know it in Nigeria by giving our customers more. With InvestPro, we are not just offering another product, we are providing a secure investment opportunity that empowers Nigerians to put their money to work, beat inflation, and grow wealth.”
Bankly Microfinance Bank is fully licensed by the Central Bank of Nigeria (CBN) and all deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC), ensuring customer security.
For more information about InvestPro and Bankly, please visit www.investpro.bankly.ng.
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