Access Bank debuted a subsequent FinTech network designed for Small and Medium Enterprises (SMEs) in Nigeria and diaspora to seamlessly create a business account without real-time paperwork. Access Bank newly developed the online Central Application Office (CAO) that allows Nigeria-based businesses to access an online account registration to lead the commercial frontier towards the e-lending transition.
According to Access Bank, the seamless CAO portal is an online registration system that is exclusive for unregistered SMEs to create a business account in line with the business legitimacy. Access Bank built the seamless and paperless CAO portal to be instantly efficient and fused with a high-end cybersecurity toolkit to provide business banking solutions to the unbanked. Access Bank — Nigeria’s largest lender targets startup companies to register their business accounts without paperwork interference from the real-time banking system.
Access Bank tweaked its online business account registration with a precise procedure — the SME account applications can be completed in a five-minute countdown. Onboarding the Access Bank CAO portal for SMEs that serves as a banking solution to aid entrepreneurship as a career to bolster business operations and efficient finance management. A business account provided by the Access Bank CAO network is conducive to accounting for millions of Naira.
Access Bank Group Head, Emerging Businesses, Ayodele Olojede, said the newly developed CAO portal for business account registration is debuted to easy millions of existing SMEs in Nigeria. Olojede’s comments portray the commercial bank’s commitment to “support entrepreneurs and small business owners, we have created a simple seamless digital platform for individuals to obtain an affordable and flexible account for their unregistered businesses which will give them access to digital loans from N250,000 to N10million, Access to capacity building programs and pieces of training, Business registration at a discounted rate for those unregistered businesses, Invitation to link up with investors and build a website with as little as N20,000.”
Olojede revealed that SMEs or entrepreneurship partisan in economic development have evolved the global economic growth. Most developing countries are experiencing standard socioeconomic transition influenced by a relentless SMEs ecosystem that also accelerates the developmental growth of SMEs beneficiaries in the economy such as individuals governments, and firms. SMEs account for the majority of businesses worldwide and are important contributors to job creation and global economic development. They represent about 90% of businesses and more than 50% of employment worldwide” Olojede continued.
Access Bank takes the lead in the Nigerian banking sector as the largest lender to debut a seamless portfolio to manage a business account. Olojede’s CAO portal announcement addresses the Nigerian startup SMEs community as an ad encouraging SMEs and entrepreneurs partisan in the online business account provision for bulk finance management that lessens the mismanagement of working capital.
The business account for SMEs served by Access Bank shares literate tips on how to manage a business’s working capital. The Access banking network for SMEs specializes in sorting bulky financial inclusion derived from a business. A separate classification of accounts between the entrepreneur’s fund and the business working capital, regulating corporate governance and risk management.
Access Bank reportedly administrates more than 600 real-time branches in Nigeria. The CAO portal for online account registration poses a strategic transition to embrace the FinTech system for banking solutions — with SMEs as its target market.
Although Africa’s behemoth lender recently got scolded the Nigerian apex bank regulations, Access bank is relentless in innovating its banking system for financial management solutions such as the latest CAO portal for business account provision, online lending solutions, and digital payment solutions via SwiftPay and much more lucrative financial management.
