The Future of ATMs in Banking

It’s been a tough year for the ATM industry. The core function of these automated tellers has always been cash dispensing. But when cash suddenly becomes an alleged pandemic “disease vector” thanks to widely circulated, but mistaken, reports of a World Health Organization statement, it caused the ATM industry great angst, coming on top of…

How COVID-19 Has Changed Payments & Banking Behaviors Forever

Clearly COVID-19 impacted consumer behavior globally as many consumers were forced to work from home, financial institutions closed lobbies and people worried about everything touched by others. The question has been whether initial changes in activities would become fundamental behavioral shifts once the pandemic ended. With people beginning to settle into what their “new normal”…

Financial Inclusion Does not only mean Walking into a Bank or Using a Phone to Make Transactions – NDIC

The managing director and CEO of Nigeria Deposit Insurance Corporation [NDIC] Alhaji Umar Ibrahim said that the Central Bank of Nigeria [CBN] financial inclusion strategy is more than having engagements with the bank. Ibrahim said, “Financial inclusion does not only mean walking into a bank or using a phone to make transaction, but also allowing the citizen…

Bank’s e-transactions hit N34tn in Q1

A total volume of 557,083,712 transactions valued at N34.02tn were recorded in Q1 2019 as data on Electronic Payment Channels in the Nigeria’s banking sector. The National Bureau of Statistics disclosed this in a report on Selected banking sector data: Sectorial breakdown of credit, ePayment channels and staff strength. NIBSS Instant Payments transactions dominated the volume…

Beyond Mobile Payments: Going up The Value Chain of Fintech in Africa

Amadou Sy Sub-Saharan Africa has become the global leader in mobile money adoption, usage, and innovation. The challenge now is to go beyond the success in payments to meet the unmet demand in the region for other, underdeveloped financial services that can facilitate the digitalization of other segments of the economy. In a new report, my colleagues…