Nigerian fintech startup, Bloc, has unveiled its latest offering, Bloc 2.0B, a business bank designed to transform how companies manage their finances, catering to businesses of all sizes. Bloc’s founder and CEO, Edmund Olotu, emphasised, in a press release, how important this launch is for tackling different business challenges and driving long-lasting growth. The new business bank introduces six innovative features that collectively address the complex landscape of financial operations:
- Unlimited Sub-accounts and Debit Cards: Bloc 2.0B empowers businesses with unlimited sub-accounts and debit cards, streamlining expense management and enhancing internal financial oversight.
- POS Terminals for Agency Banking: The platform introduces POS terminals, enabling businesses to facilitate in-person payments via card or bank transfer, expanding accessibility for customers.
- Prebuilt Templates and No-code Tools: Bloc 2.0B offers prebuilt templates and no-code tools, allowing businesses to seamlessly offer banking services, such as bank accounts and debit cards, to their customers and staff without the need for technical expertise.
- USD Bank Accounts: To facilitate global transactions, Bloc 2.0B provides USD bank accounts, enabling businesses to accept payments from around the world.
- Global Payouts: The platform offers global payouts, simplifying international transactions by allowing businesses to send money to over 50 currencies across the world.
- Developer Features with Bloc API: Technical teams can leverage Bloc 2.0B’s developer features to create custom applications using the comprehensive suite of banking and payment products available through the Bloc API.
With a strong focus on security and compliance, Bloc 2.0B operates as a regulated bank under the Central Bank of Nigeria’s supervision. Its services are backed by licensed banking institutions, ensuring deposit insurance for all local and global bank accounts. The platform adheres to globally recognised security standards, including PCI-DSS and ISO-27001.
Bloc is committed to offering comprehensive financial services that go beyond traditional banking and payments, aiming to nurture growth and prosperity in various aspects. The platform plans to offer additional services such as capital lending, investment opportunities, advisory services, and more as it continues to evolve.
Technical teams are empowered to build their products using the same proprietary infrastructure that underpins Bloc’s business banking services. As the platform expands its feature set, businesses can seamlessly integrate these enhancements into their operations.
Bloc has evolved beyond being merely an infrastructure company; it proudly announces its transformation into a “full-service business bank” catering to all types of businesses — a rich business banking experience designed for SMEs, small startups, large organisations, NGOs, etc. AND an easy-to-use suite of APIs for teams who want to embed FinTech features in their apps.
