Access, convenience biggest contributors to fintech adoption in Nigeria

October 13, 2020

Saviour Adugba Access and convenience are the two most important drivers of fintech adoption in Nigeria, a report by McKinsey & Company, the business advisory and consulting firm has stated. There is also a growing trust in fintech because of the participation of mobile network operators, the growth of agent networks, transparency in pricing, customer […]

Payments, lending major drivers of Nigeria’s fintech market — McKinsey

October 6, 2020

Saviour Adugba Quickteller, Paga, Opay, others competing well with banks’ apps, USSD A new Mckinsey report focusing on Nigeria’s fintech ecosystem has identified payment activities and lending as major drivers of Nigeria’s fintech advancement The study noted that growths have been experienced in the payments segment due in part to the Central Bank of Nigeria’s […]

Significant shift from cash to digital payments a gradual process, say Flutterwave executives

September 30, 2020

Flutterwave

In a lot of ways, the COVID-19 pandemic has thrust forward the importance of online and digital payments and brought to more public familiarity technology payment facilitating companies. Flutterwave, one of the leaders in the payment technology space in Africa, helps provide banks and businesses with seamless and secure payment experiences for their customers “We’ve […]

Airtel Africa, WorldRemit join forces to raise financial inclusion in Africa

July 20, 2020

Airtel Africa, WorldRemit join forces to raise financial inclusion in Africa

By Omobayo Azeez Airtel Africa is scaling up its operations with WorldRemit, the global digital money transfer service that operates in over 50 send countries to over 150 receiving countries, to deploy instant money transfer solutions across Africa to deepen financial inclusion in the region. Building on the successful connection to Airtel Money services in […]

FirstBank’s *894# USSD: evading lockdown to render banking services

June 4, 2020

By Omobayo Azeez Against the backdrop of the COVID-19 pandemic, millions of bank customers in Nigeria and in abroad have been forced to remain at home due to restrictions and lockdowns orders adopted as a potent measure against further spread of the virus. This measure, which did not exclude commercial institutions, particularly banks, threw up […]

CreritRegistry launches API to improve confidence in lending

May 31, 2020

CreditRegistry laucnhes API

By Omobayo Azeez Nigeria’s largest credit bureau, CreditRegistry, has launched an application programming interface (API) service to validate the financial credibility of cheque issuers to improve confidence in lending. The product launch is in line with the Central Bank of Nigeria’s directive that all financial institutions perform a status check on potential customers to ensure […]

PwC: Global funding for Fintech nosedives to $6bn

May 12, 2020

Lagos Fintech Week 2020 delayed till September over COVID-19

By Omobayo Azeez Global funding for FinTech companies has declined to $6 billion the end first quarter (Q1) of 2020, a report by PricewaterhouseCoopers Nigeria (PwC) has disclosed. The report attributed the development to Coronavirus pandemic which forced investors to divest from different asset classes to strengthen their cash positions. The report published by PricewaterhouseCoopers Nigeria […]

COVID-19 lockdown: A litmus test for digital economy drive

April 21, 2020

The impacts exerted on the business environment and the socio-economic sphere by Coronavirus pandemic have been felt globally. In the midst of this life-threatening situation, however, the digital economy drive of countries such as Nigeria is being put to test. OMOBAYO AZEEZ reports. Coronavirus pandemic, now globally infamously known as COVID-19, has brought the global economy on […]

Digital payment improves as mobile money accounts surpass 1bn mark

April 6, 2020

Cashless: CBN introduces measures to promote e-payment

As Nigerian banks execute N48.54trn e-payments in Q3’19 pay By Omobayo Azeez As the end 2019, total mobile money services surpassed one billion accounts globally, the Global System for Mobile Communications Association (GSMA) has revealed. According to the newly unveiled annual ‘State of the Industry Report on Mobile Money’ by the body, 2019 marked a major […]

Lagos Fintech Week 2020 delayed till September over COVID-19

March 19, 2020

Lagos Fintech Week 2020 delayed till September over COVID-19

By Omobayo Azeez The organiser of Lagos Fintech Week has postponed the 2020 edition of the weeklong activity of fintech events due to the outbreak of the Coronavirus (COVID-19). Covid-19 has been declared as a global pandemic by the World Health Organization (WHO) and every party, ranging from public to private sectors is avoiding giving […]