The Baobab Microfinance Bank Nigeria Limited, a subsidiary of Baobab Group, France, has received certifications for Business Continuity Management Systems (ISO 22301) and Information Security Management Systems (ISO/IEC 27001).
This was disclosed in a statement issued by the lender on Saturday, stating that the certifications confirm the bank’s commitment to guaranteeing customers’ data protection and transaction security.
ISO certifications are globally recognised standards that provide guidelines for quality management, information security management, business continuity management, and other areas.
The International Standard Organization conferred the certifications on the bank following a final audit of the bank’s policies and standard operating procedures and processes.
Speaking on the certifications, the Acting Managing Director, Baobab Nigeria, Jonas Nyaye, said, “It is important we demonstrate by our actions, as certified by an international body like ISO, our commitment to providing quality services and adequate protection of data to our customers and stakeholders.
“We will continue to improve our systems and get certified in other industry certifications to further deepen our customers’ and stakeholders’ trust in us.”
The bank also recently launched three new digital products at its headquarters in Lagos. Unveiling the three products during a virtual session, the bank’s Chief Digital Officer, Chukwuka Obike, revealed that the bank is now offering Taka Loan for Savers, Micro-Health Insurance, and POS terminals to its customers.
The chief digital officer, supported by other senior management staff of the bank, disclosed that Baobab as a digitally innovative bank has considered global trends and therefore has decided to add value to its existing and potential customers by introducing these products.
Also, the nank introduced a Micro-Health Insurance product, in collaboration with AXA Mansard Nigeria, aimed at providing better insurance coverage to customers for common illnesses like malaria and typhoid.
He further revealed that in response to the recent cash crisis in the country, Baobab Nigeria is introducing POS terminals for merchants and Small and Medium scale enterprises, by enabling business owners to receive payments through alternative channels.
