Parallex Bank has once again demonstrated its leadership in Nigeria’s financial innovation landscape by winning the “Digital Financial Groundbreaker of the Year” award at the prestigious Banks and Other Financial Institutions (BAFI) Awards organized by BusinessDay Newspaper. This marks the third consecutive year the bank has been recognized at this industry event.
The award was presented during a grand ceremony in Lagos over the weekend. Previously, Parallex Bank claimed the “Challenger Bank of the Year” award in 2023 and the “Bank of the Year” accolade in 2024, underscoring its rapid ascendancy in Nigeria’s banking sector.
Representing the bank, Mr. Ayodeji Abimbola, Head of Treasury and Institutional Banking, expressed pride in the recognition. “This award affirms our relentless commitment to transforming customer experiences through innovative digital solutions,” he stated. “It is a testament to our mission of delivering borderless banking and empowering individuals and businesses across Nigeria and beyond.”
BusinessDay highlighted that the award recognizes financial institutions that excel in digital transformation, innovation, efficiency, and customer-centric service delivery. The organisers praised Parallex Bank for its pioneering digital initiatives, seamless service integration, and dedication to promoting financial inclusion.
Industry experts have noted that Parallex Bank’s consistent success at the BAFI Awards reflects its remarkable evolution from a challenger bank to a key player in Nigeria’s competitive financial services sector. Since becoming a full-fledged commercial bank, it has distinguished itself through user-friendly digital platforms, transparent practices, and social impact programs targeting SMEs and underserved communities.
Reacting to the latest accolade, Dr. Olufemi Bakre, Managing Director of Parallex Bank, emphasized the bank’s commitment to challenging the status quo. “Our journey is driven by innovation, integrity, and a desire to make a meaningful impact,” he said.
Now in its 12th edition, the BAFI Awards celebrate excellence and leadership within Nigeria’s banking and financial industry, recognizing institutions that have made significant contributions to industry growth and customer satisfaction.
With this recognition, Parallex Bank continues to solidify its reputation as one of Nigeria’s most innovative and digitally forward financial institutions.
