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Diamond Bank Introduces eSUSU Savings Scheme

Diamond Bank has again raised the bar in financial services innovation as it is set to unveil Diamond eSUSU scheme, a digitized version of Nigeria’s traditional savings system.

The eSUSU scheme is expected to revolutionize the saving habit of Nigerians by encouraging and helping participating accountholder groups to meet their savings target timely and efficiently.

Diamond eSUSU is a contributory saving scheme that offers a group of customers with common interest, an opportunity to collectively save toward targeted goals of each group member on a rotational basis.

According to Diamond Bank’s CEO, Uzoma Dozie, Diamond eSUSU is in line with the Bank’s strategic objective to grow a savings culture among Nigeria’s banking public. ‘’eSUSU brings bottom of the pyramid marketing to the mainstream of banking, this is a great feat to us,’’ he stated.

Reiterating Dozie, the Head, Transaction and Electronic banking, Rob Giles, stated that the interest of the customers led to the creation of this innovative product. ‘’We listened to customer feedback and realized that the eSUSU system is not only widespread in all sections of society, but that it is also one of the preferred ways of mixing saving and borrowing.  By creating a digital platform, we remove the administration burden for the eSUSU organizer and also provide enhanced visibility of their programme online for the group,’’ he said.

Diamond Bank Plc is one of Nigeria’s fastest growing retail banks. Through innovation and technology, the Bank enhances customer experiences and has continued to drive financial inclusion in what it terms ‘Beyond Banking’.

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