Heritage Bankpartners CeLD Innovations to launch Cashtoken

HB Celd 1…Executive Director, Heritage Bank Plc, JudeMonye; GroupHead,
Energy, Corporate Banking, Afolasade Alonge and Head, Internal Management
and sustainability, Corporate Communications,Heritage Bank, Ozena Utulu,
during the CeLD 500 CEOs Conference and officialunveiling of the
Cashtoken, sponsored by Heritage Bank in Lagos.

HB PIX 2…L-R: Oluwaseun Ogundola, Innovation and Partnership,
HeritageBank; Head, Internal Management and sustainability, Corporate
Communications,Heritage Bank, Ozena Utulu; Founder/CEO,CeLD, Lai Labode
and Lovelyn Iruayenaima of E-Brand, during the CeLD 500 CEOsConference and
official unveiling of the Cashtoken, sponsored by Heritage Bank,in Lagos.

HB Celd 3…L-R: Oluwaseun Ogundola, Innovation and Partnership,
HeritageBank; ; Winner of Big Brother Naija, Season-2, Efe Ejegba
(Efe); Head,Innovation & Solutions, Innovation & Partnership, Ejikeme
Obiano and The NEXTTITAN Nigeria Season-4, Kennedy Iyeh, during the CeLD
500CEOs Conference and official unveiling of the Cashtoken, sponsored by
HeritageBank, in Lagos.

Heritage Bank Plc, Nigeria’s Most Innovative Banking Service Provider
haspartnered with CeLD Innovations to launch CashToken, a consumer
electronicreward system into the Nigerian economy.

The product waslaunched at the Hyper Consumer Centricity conference held
at the LagosContinental Hotel, Victoria Island, Lagos with top 500
Nigerian CEOs inattendance.

Speaking at thelaunching ceremony, Mr. Jude Monye, Executive Director of
Heritage Bank saidCeLD is a very innovative organisation that is committed
to bringing newinnovation to the Nigeria’s economy to enable discerning
companies to rewardtheir customers.

“We are atHeritage Bank believe in it, because we believe in trail
blazing, which is ourforte and our forte is innovation,” Monye said.

The CashToken isan electronic reward and celebratory gift commodity, which
costs only N30.00and it, is aimed at making every patronage or celebratory
gift a life-changingcash opportunity.

The chairman ofthe occasion, Mr. Leo Stanley Ekeh said innovation in the
third world comeswith pain before pleasure, adding that “we are in an
innovation century thatthe poorest man in the world will become the
richest because of the power ofdigitization.”

Mr. Lai Labode,Founder & CEO of CeLD Innovations said the company is the
world’s firstcash reward as a service company which has established a
robust technology andbusiness model that herald a new era of hyper
consumer centricity.

He said they arepioneering a performance based system designed to optimise
consumer loyaltyinvestments for businesses, celebratory gift value
optimization and publicemotional equity for government.

Labodesaid about N20 billion would be offered in the next three years of
fulloperation of the fund; which is managed by Vetiva Capital Management,
NigerianStockbrokers Limited and First Ally Capital.

The platformruns on a ground breaking product called, the Cash Token which
connects everypatronage or reward in the nation’s economy to an
opportunity for life-changingcash rewards every Friday night at the
National CashToken draws monitored byAlexander Forbes and audited by
Deloitte.

Each cash tokenoffers a cash win opportunity of up to N100 million and
guaranteed cashcontribution for general and health insurance for the
beneficiaries.

The objective ofthe company is to revolutionise the customer reward space
by delivering themost consequential customer loyalty and celebration
product.

Also speaking,Mr. Wale Olokodana, Enterprise Commercial Lead, Microsoft
Nigeria appreciatedLeo Stanley Ekeh for helping to introduce Microsoft to
the Nigerian economy,adding that this cash innovation will help to social
problems in the insuranceand health sectors.

He listed thebarriers to innovation as power, skills as well as compliant
and regulatorychallenges; remarking that in order to overcome the
challenges of power, cloudcomputing was introduced.

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