To offer prospects with extra providers, Stanbic IBTC has partnered with Bento Africa.

Stanbic IBTC Financial institution PLC, a subsidiary of Stanbic IBTC Holdings PLC, has confirmed it’s a  first-of-its-kind settlement with Bento Africa to present extra worth to Nigerian companies of all types. 

Bento Africa is a agency whose goal is to fulfill work wherever it takes place,enhance monetary inclusion throughout the continent in addition to enhance the variety of folks with entry to numerous monetary providers. The corporate focuses on payroll and human useful resource administration.

When requested in regards to the reasoning behind the cooperation, Wole Adeniyi, Chief Govt Officer of Stanbic IBTC Financial institution, famous that the financial institution was dedicated to delivering extra digitized value-added providers to enterprises and SMEs. This was one of many major motivating components behind the partnership. 

Each consumer will even have employees that they pay salaries to – This strategic alliance was pushed by deploying a expertise platform of world-class customary, which strengthens how purchasers relate to our financial institution.

He acknowledged: “We’re completely happy to work with Bento Africa, which already serves greater than 1,000 companies in Ghana, Rwanda, Kenya, and Nigeria and has plans to roll out to an extra ten nations by the top of the yr.”

Bento Africa is revolutionizing the African payroll and human useful resource administration market, which has traditionally relied on arduous and handbook processes to deal with payroll. One-click is all it takes for the start-up to help enterprises of any dimension in automating the disbursement of salaries and different necessary remittances, akin to taxes and pensions.

Prospects of Stanbic IBTC can entry Bento’s providers by our digital platforms. These providers embody payroll and HRM providers, detailed monetary information analytics, and seamless cost of workers working within the formal and casual sectors, all whereas sustaining compliance with native legal guidelines, as Wole defined.

The service shall be supplied without charge for the primary three months to Stanbic IBTC prospects. This represents a big enchancment for corporations that spend important time manually processing payroll every month.

Submitting and calculating statutory remittances just isn’t solely arduous however usually results in errors and the issue of “ghost employees.”

When requested to touch upon behalf of the Bento crew, the corporate’s founders, Ebun Okubanjo and Chidozie mentioned: “We contemplate this to be the muse of a lot deeper cooperation with main establishments and start-ups,” mentioned David Okonkwo.

We’re not amazed that Stanbic IBTC was the primary to indicate up. The financial institution and its historical past are constructed on innovation. We’ve loved working with them and are very enthusiastic about how salaries and advantages will change sooner or later and what that can imply for employers, workers, and society as a complete.”

Bento Africa and Stanbic IBTC imagine that the revolutionary angle led to by this relationship would absolutely lead to additional value-added providers being made accessible to Stanbic IBTC’s buyer base.

 

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