A comprehensive Memorandum of Understanding, MOU, to accelerate the launch of a hybrid bank account, the Diamond Y’ello Account that offers an unparalleled combination of financial, telecom, loyalty and lifestyle benefits has been jointly signed by Diamond Bank Plc. and MTN Nigeria. Tagged the Diamond Y’ello Account, the service allows customers to open a Diamond Bank account conveniently from their MTN lines even as the account also offers interest earning benefits as well as access to micro credit. In addition, customers will enjoy friendly call rates and earn loyalty points as they carry out transactions.
Group Managing Director/ CEO of Diamond Bank Plc, Dr. Alex Otti said, “One of the major benefits of the Diamond Y’ello Account is that as soon as a customer opens the account from their mobile phones, transactions are done with ease and convenience via their mobile phones. With nearly 100% mobile phone penetration in Nigeria, many more un-banked and under banked Nigerians, regardless of their location, can
now enjoy access to banking with this novel service.”
According to MTN’s Chief Executive Officer, Michael Ikpoki: “We are absolutely delighted once again to be offering our existing and potential subscribers a new and innovative product that will most definitely change their life styles and the way they manage their finances. We are really excited about Diamond Y’ello Account, and we plan to make use of our existing network and infrastructure all over the country to ensure that we reach as many people as possible especially those who do not have access to banking services.”