Category: Agent Banking
-
MANAGING AND GROWING AGENT BANKING NETWORK IN NIGERIA’S DYNAMIC ECOSYSTEM.
Tochukwu Okwuanya (PMP) How Fintech Organizations can position for growth in a future of uncertainty. FinTech sounds cute and is particularly exciting for practitioners who are wowed by its sheer capacity to change the way financial services are offered and accessed. Currently, one can request for loan online and get funded in minutes. In Nigeria,…
-
Financial Inclusion Agents Advocates Supports For Technological Integration
The Financial Inclusion Agents (FIA) in Nigeria on Tuesday, debunked the rumour that members cannot enjoy technological integration popularly called interoperability. A member of the FIA, a network of Shared Agent Network Expansion Facility (SANEF), Atanda Sharafadeen Fasasi, who spoke with LEADERSHIP in Abeokuta, the Ogun state capital said it would be a fallacy to…
-
KPMG: FirstBank reinforces retail banking dominance, creates 150,000 indirect jobs
By Collins Nweze The unbanked and underbanked, two groups at the centre of retail banking, need to be captured for the financial system to achieve its full potential. The KPMG Nigeria Banking Industry Customer Experience Survey says customers have expectations about how their needs will be met and meeting this requires banks deploying the right…
-
Agent Banking Footprint in Nigeria the future of Brick and Mortar Banking
Alexander Okafor works with Financial Inclusion Services an arm of Firstbank Ltd. What is an Agent Banking? Agent banking is a means of providing certain financial services to customers through the use of agents who usually are not banks but are appointed by financial institutions to carry out that business on their behalf. The underlying…
-
‘How agent banking will drive innovation, inclusion’
Experts have identified agent banking and Point of Sales (PoS) terminals as major enablers of last-mile access to formal financial services by the unbanked and under-banked population in Nigeria. Over the years, there have been concerted efforts by the Central Bank of Nigeria (CBN), deposit money banks, and other stakeholders in the industry to bring…
-
Fidelity Bank supports financial inclusion drive with N120m promo
By Chinyere Joel-Nwokeoma Lagos – Fidelity Bank Plc on Thursday flagged off its Get Alert in Millions (GAIM) Season 4 promo to strengthen the Federal Government’s financial inclusion drive. Speaking at the event in Lagos, Mr Nnamdi Okonkwo, the bank’s Managing Director, said N120 million would be given out to customers under the initiative. Okonkwo, who…
-
MTN Subsidiary, YDFS, Launches MoMo Agent Network in Port Harcourt
Ernest Chinwo in Port Harcourt Officials of the Y’ello Digital Financial Services (YDFS) Limited, a subsidiary of MTN Nigeria, last weekend were at the Rumuwoji (Mile One) Market in Port Harcourt for the regional launch and sensitisation event introducing the MoMo Agent Network financial service. The MoMo Agent Network was officially launched in Abuja on…
-
The role of open banking in the Nigerian financial system
With the ever-evolving climate of the financial industry driven by rapid advances in technology, customer expectations, and new business models, there is a constant need to deliver services that push the envelope of traditional banking. The case made for financial inclusion by the Nigerian government has been a major factor that has encouraged innovation and…
-
FirstBank to register 500,000 Agents on its Firstmonie Platform
With a view to enhancing financial inclusion across the country, First Bank of Nigeria Limited has announced its drive to get up to 500,000 operators onboard its agent banking platform. This was disclosed at the opening ceremony of the 12th Annual Conference of the Chartered Institute of Bankers of Nigeria (CIBN) by FirstBank’s Chief Executive Officer, Dr. Adesola Adeduntan, who also…
-
MTN’s MoMo Agent plans to aid financial inclusion in Nigeria
A subsidiary of MTN Nigeria, Y’ello Digital Financial Services, last month launched its super-agent network service named ‘MoMo Agent.’ The launch held in Abuja after the firm had successfully been awarded a Super-Agent License by the Central Bank of Nigeria (CBN). With the fintech strategy, the company joins the ongoing efforts to accelerate the CBN’s…