Vetiva Launches Wealth Card for Investors to Access Funds

Vetiva Securities Limited has the launched ‘Vetiva Wealth Card’ which will enable investors access funds in their investment accounts via any Automated Teller Machine (ATM) or Point of Sales (POS) terminal in Nigeria. The product was developed in collaboration with ProvidusBank and Infoware Limited. Investors who subscribe to the service will be issued ATM cards directly linked to their stockbroking and/or investment accounts thereby ensuring real-time withdrawals from their accounts.

Speaking on the product, the Head of Retail Services at Vetiva, Mr. Folagbade Adeyemi said: “The development of the Vetiva Wealth Card is in line with our commitment to empowering Investors in the access and management of their funds. Furthermore, the product acts as an incentive to attract more investors into the capital market and guarantee higher levels of transparency.”

According to him, the development of the Vetiva Wealth Card is in furtherance to the recent launch of the Griffin Mobile App and is in line with Vetiva’s strategy to invest in technology that enhances retail investor access to the Nigerian capital market in a convenient and cost effect manner.

“Our solution is agnostic and we look forward to working with other Brokers and Asset Managers to deploy this solution as part of our contribution to develop the Nigerian capital market,” Adeyemi said.

Group Head, Digital Banking at ProvidusBank Plc, Mr. Frank Atat said: “At ProvidusBank, we remain committed to technology-driven solutions hence we are proud to be a part of this initiative. We believe that it is the beginning of an inevitable transition to digital solutions that empower the average Investor”

Also speaking, Managing Director, Infoware Limited, a capital market software solutions provider, Mr. Uwa Agbonile, said: “Infoware has for many years deployed significant resources towards the development of world class capital market software and our collaboration with Vetiva is another step towards our vision to support The Nigerian Stock Exchange in creating global standard capital market infrastructure”.

Vetiva Securities is registered with the Securities and Exchange Commission to act as broker/dealer and is a dealing member of the Nigerian Stock Exchange(NSE).

The company has floated many mutual funds for retail investors to have access to the capital market. Vetiva recently exposed investors on benefits of exchange traded funds(ETF) and how to access them in the capital market.

According to Director, Asset Management at Vetiva Capital, Oyelade Eigbe, the presentation was on the backdrop of increasing enquiries from investors on how to purchase/ invest in ETFs.

She explained that ETFs can be purchased or sold like any other stock on the floors of the NSE through any stockbroker.