Sterling Bank has launched Edubanc – an innovative tech-based solution to provide banking and social services for stakeholders in the education sector.
The solution aims to improve current learning outcomes and business growth for students, parents, and providers of educational services.
General Manager of Edubanc, Damian Umeasala, described the offer as a robust platform that provides students, parents, and educational institutions with a seamless route to secure funding, pay tuition, and access other value-added services.
“Education has always been the cornerstone of progress, development, and growth in any economy in the world today. However, financial constraints often hinder the dreams and potential of countless individuals. At Edubanc, we firmly believe everyone should have equal access to quality education, regardless of their financial status.
“This is why we have created a solution that aims to remove the financial barriers that prevent individuals from realising their educational goals,” he said.
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Umeasala said through the cutting-edge offerings, the platform has helped over 3,000 children to remain in school, relieved the financial burden of 1,200 parents, granted free training to over 350 teachers, and introduced operational efficiency to about 1,000 schools.
National president of the National Association of Proprietors of Private Schools (NAPPS), Chief Yomi Otubela, also spoke, citing gender disparities, insufficient access to education, insecurity, and poor infrastructural facilities as some of the educational sector’s challenges.