Guaranty Trust Bank Plc was recently announced the winner of the “2014 Product Leadership Award,” at the 2014 Frost and Sullivan ‘Excellence in Best Practices’ awards held in France.

Frost and Sullivan is a growth consulting firm that provides market research and analysis, growth strategy consulting, and corporate training services across multiple industries including banking, automobile, healthcare, internet and communication technology, and more.
Its headquarters is located in California with offices in 31 countries across six continents.

Explaining the rationale behind GTBank winning the award, Frost and Sullivan explained in a statement that the award was in recognition of the bank’s efforts to offer robust value to SMEs in Nigeria. “Recognising that accessibility remains a major challenge in the Nigerian banking landscape, GTBank introduced GTPay and GAPS platforms to facilitate quick, safe and efficient payment systems for SMEs.
“In addition, GTBank developed the SME MarketHub; an online e-commerce platform that allows SMEs create and maintain an online presence and expand their businesses to new markets as well as millions of buyers that are online,” the statement added.
It noted that the introduction of the SME MarketHub has continued to highlight the bank as a frontrunner in innovative banking solutions, as e-commerce is widely acknowledged as a powerful tool for fully enhancing business possibilities as it opens up a world of businesses to customers and a world of customers to businesses.

Receiving the award on behalf of the Bank, General Manager, Communication and External Affairs, GTBank, Mrs. Lola Odedinasaid: “The SME sector holds paramount towards the development of the Nigerian economy, as 96 per cent of Nigerian businesses are SMEs.
“The bank has continued to demonstrate its support for SMEs through the introduction of innovative products and services to boost their businesses.”.