Fedeth Microfinance Bank Rebrands To ClearPay

Nigeria-based microfinance bank, Fedeth Microfinance Bank has rebranded to ClearPay Microfinance Bank, which the management said is effective immediately. It said, “The move embodies our commitment to providing innovative financial solutions to our clientele, while enhancing our technology and digital platforms.”

The managing director of ClearPay, Joseph Oyibo said the bank will continue to build on the legacy of trust, transparency and reliability established by Fedeth Microfinance Bank. “Our dedication to empowering individuals and businesses remains unchanged, and even now more fortified by a fresh and bold identity that reflects our approach to financial inclusion,” Oyibo said in a statement that was issued yesterday.

He said the decision to rebrand stems from a desire to steer the business towards providing financial solutions that match the increasing needs in the society. In addition to the name change, Oyibo said ClearPay Microfinance Bank has a new business direction – to be the go-to salary bank for MSMEs across Nigeria.

He said ClearPay Microfinance Bank, in both name and direction, remains committed to its mission of continually supporting entrepreneurs and individuals by providing excellent financial services leveraging cutting-edge technology and highly skilled and talented people.

“We are excited to unveil ClearPay Microfinance Bank as the next chapter in our journey of service and innovation,” Oyibo stated, adding that “This rebranding initiative mirrors our passion towards providing transparent and transformative solutions to our customers.

It also reflects our confidence in taking unconventional decisions to ensure our mission is achieved.”

He said ClearPay Microfinance Bank will continue to offer a comprehensive range of financial products and services tailored to the diverse needs of our clients. From microloans to savings accounts, we remain dedicated to facilitating financial inclusion and fostering economic empowerment across all sectors of society.

According to Oyibo, existing clients should be rest assured that all account details and services will seamlessly transition to ClearPay Microfinance Bank, ensuring uninterrupted access to their financial resources. We look forward to continuing this journey with our valued clients and partners, forging ahead towards a future of financial success for all.

ClearPay Microfinance Bank, incorporated in 2007 and licensed by the Central Bank of Nigeria, was born out of a vision to push the frontiers of banking in Nigeria by leveraging technology to create a seamless and accessible banking experience for all Nigerians.

The management said ClearPay is positioned to take advantage of today’s technologies to drive financial inclusion, investment and growth for its clients. “We are guided by our vision, backed by our core values and business philosophy and against this foundation we have built a reputation for consistent growth and innovation, allowing us to offer excellent financial services to our customers and more specifically, support micro-entrepreneurs, partnering with them on their road to sustainability and success.”