Parallex Bank Website Crashes One Week After Launch

The website of Parallex Bank Limited owned by Christ Embassy has crashed seven days after the launch of the Deposit Money Bank.

Parallex Bank, previously a microfinance bank, was transformed into a commercial bank following approval by the Central Bank of Nigeria.

The bank was launched on January 14, and promises limitless possibilities in the Nigerian banking sector.

The bank received the Central Bank of Nigeria approval to upgrade as a commercial bank in January 2021.

At the launch, the Managing Director of Parallex Bank, Olufemi Bakre, had said, “The Management, and the staff of Parallex Bank Limited have adopted and shall operate by S.E.E.E.D.D, an acronym which stands for Speed, Execution, Extra mile, Executive touch, Digital innovations, and Discipline.

“This we do, by making available to all Nigerians, our unique digital platforms that make our services available anytime, anywhere.”

But when THE WHISTLER tried accessing it on Friday by 11 am, the website was down.

“509 bandwidth limit exceeded; the server is temporarily unable to service your request due to a bandwidth limit that has been reached for this site. Please try again later,” the website read as at the time of this report.

Error 509 occurs when the quantum of resources allocated to a website by a web-hosting company has been reached.

This could be as a result of high web traffic to the website.