SunTrust Bank formally opens for business today as it seeks to reshape the Nigerian banking space and the way consumers interface with their banks.
Many have continued to ask questions about the mode of operation of the bank which has no branch or branches.
Here are 10 things you should know about the Sun Trust Bank:
1. The bank though with no branches has its headquarters at Oladele Olashore street in Victoria Island Lagos.
2. The banking hall is completely different, no kiosks or cashiers and it looks more like an airport lounge, signaling a total dependence on technology in its service offerings to the public.
3. The bank promises to offer telephone, mobile and Internet banking underpinned by the traditional banking ethics of probity and integrity.
4. The bank does not plan to have any branch as it will rely on technology 100%.
5. Its services will be available to customers 24 hours daily, seven days a week and from anywhere in the world where there is a good Internet service.
6. The bank claimed that its data centre is outsourced, thus, ruling out the overbearing requirement to put on the generator at locations.
7. By adopting a branchless strategy, SunTrust will save the N100m-N120M required to build a modern branch and the about N2.5m it costs to run the generators at a typical bank branch.
8. Customers of SunTrust can use any bank’s ATM because the bank will not be charging them the fee charged by other banks for using ATM machines belonging to other banks.
9. Opening an account at the bank is easy free and it can be done by logging on to the website; www.suntrust.com
10. Money deposit into Suntrust is to be done by the bank’s ATM. These machines are currently available in USA and not in Nigeria yet.
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