Lagos Microfinance banks set to integrate with BVN by 2018

By Providence Emmanuel THE Lagos State Chapter of National Association of Microfinance Banks, NAMBLag, weekend, said that in line with its ongoing partnership with the Nigerian Inter-Bank Settlement System, NIBSS, full integration of member-banks with the Bank Verification Number, BVN, will commence January 2018. Speaking at the NAMBLag’s seventh Annual General Meeting for the financial year […]

Customs revenue leakage probe: N140bn recovered from erring firms, banks – Senate

By Henry Umoru ABUJA— THE Senate,  yesterday disclosed, that about N140 billion has been returned to the Federal Government through the Central Bank of Nigeria, CBN, by firms and banks found guilty in its investigations into revenue leakages in the Nigeria Customs Service. Customs CG, Hameed Ali It said that despite the payments, none of […]

Banks’ return to global bond market’ll boost foreign currency liquidity —Fitch

By Elizabeth Adegbesan GLOBAL rating agency, Fitch, yesterday, declared that the return of Nigerian banks to the international bond market will reduce the country’s foreign currency (FC) liquidity risk. Fitch in its latest rating, yesterday, said: “The return of Nigerian banks to the international bond markets marks a small step towards reducing maturity mismatches between […]

Feedzai closes $50M Series C to help banks and merchants identify fraud with AI

 Feedzai is announcing a $50 million Series C this morning led by an unnamed VC with additional capital from Sapphire Ventures. The six year old startup builds machine learning tools to help banks and merchants spot payment fraud. In today’s rapidly maturing world of fintech, Feedzai is trying to thread the needle between turnkey solution […]

Over 5,000 Wells Fargo ATMs now support card-free access via Apple Pay and other mobile wallets

 Wells Fargo’s ATMs are getting an upgrade. The bank announced today that more than 40 percent – or over 5,000 of its ATMs – will now allow customers to perform transactions without having to pull out their bank card. Instead, users can take advantage of NFC – aka the “tap and pay” technology that powers […]