About TAJ Bank
TAJ Bank, established in 2019, is Nigeria’s second Non-Interest Bank. Headquartered in Abuja, the capital city, TAJ Bank operates under Islamic banking principles. This means they adhere to Sharia law, which prohibits the collection and payment of interest on loans and investments. Instead, TAJ Bank focuses on profit-sharing and fee-based structures.
TAJ Bank offers a comprehensive range of financial solutions for individuals and businesses. Their services encompass retail banking products like current and savings accounts, alongside corporate banking solutions catering to various industries. They leverage technology and digital innovation to provide a convenient banking experience through online, mobile, and USSD banking options. TAJ Bank positions itself as a leader in ethical banking, aiming to be a dominant player in Nigeria’s non-interest banking sector.
Streamlining International Expansion
The bank needed a consistent core banking system to capture economies of scale and streamline operations across its new markets. This challenge was compounded by the need to serve a price-sensitive customer base with lower revenue per client, making cost efficiency critical. SBS (ex-Sopra Banking Software), through its acquisition of Delta and its product Amplitude, provided the solution.
By adopting Amplitude, TAJ Bank managed to implement a unified system across its operations, enhancing efficiency and service delivery. This partnership allowed the bank to convert fixed costs into variable costs through innovative cloud-based infrastructure and billing schemes, enabling it to meet the demands of its expanding and diverse customer base effectively.
“Sopra Banking made us understand that they have what it takes for TAJ Bank to use their software”
Sherif Idi, co-Founder of TAJ Bank
