CBN, institute task risk managers on Fintech threats
As fintech continues to revolutionalise financial services in Nigeria, the Central Bank of Nigeria (CBN) and the Chartered Institute of Bankers of Nigeria (CIBN) have advised risk managers to stay ahead of trends and step up their risk management mechanisms to avert imminent risks that may arise from modern technology. Speaking at the Risk Management…
Invest in data authentication to boost financial inclusion, experts urge banks
Investing in data authentication and detection software by the banks and other financial institutions would lead to the expansion of loan database, improve services and boost financial inclusion.
How data reference technology aids credit applications
As the local banks embrace retail credit business to deepen their retail portfolios and fend off stiff competition from FinTech lenders, more Nigerians are embracing pay day loan schemes to manage their transactions. A payday loan is a short-term, typically 14-day, cash loan. The consumer typically writes a personal cheque to the payday lender (or…
Fintech to celebrate achievements
To celebrate Fintech achievements and opportunities with focus on funds and payments, capital markets, insurance innovations, block chain and cyber security, the world’s attention will be on the city of Lagos as it hosts the Lagos Fintech Week in October. Dr. Yele Okeremi, chairman of organizing committee, said: “Each day we will focus on a…
Nigeria’s tech startups raise $114.6m in 2017
Out of the $560 million technology startup investments that entered Africa in 2017, Nigeria earned $114.6 million.
Stakeholders seek digitalization of retail payment system
Stakeholders in the financial technology ecosystem have thrown their weight behind digitalization of retail payment system in the country as a boost to financial inclusion initiative of the Central Bank of Nigeria (CBN).
Scale up data analytics to improve products offering, banks urged
With over 98 per cent of data analytics yet to be explored globally, banks have been urged to scale up the use of analytics to make banking operations...
EFInA sees huge Fintech opportunities in Nigeria
The Enhancing Financial Innovation and Access (EFInA) has raised the hopes about huge market opportunities for Financial Technology (Fintech) companies in Nigeria.At a forum it organised in Lagos, EFInA, a financial development organisation funded by DfID and Bill and Melinda Gates Foundation
Emefiele warns banks on emerging threats
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has charged banks and other financial institutions to be proactive about the emerging threats posed by financial technology (fintech) to avoid crisis in the sector.
Experts tip blockchain tech to grow GDP through underwriting
With the nation’s insurance industry contributing less than 0.1 per cent to Nigeria’s Gross Domestic Product (GDP), experts have recommended the Blockchain Technology (BT) to be the catalyst of growth to nation and the insurance industry.