Developing new banking products to accelerate CBN’s Financial Inclusion - Vanguard News

For example, in 2007, it floated the Payment System Vision initiative and in 2013, focussed on providing mechanisms for making and receiving payments. With the minimum risk to the CBN, the payment service providers and end users, the operation aimed at accommodating the banked, underbanked and the unbanked. This was structured to conform to regulatory, technical and operational standards across all economic activities, geographies and accepted across all international boundaries.

The bank stated the self-service, stress-free and secured offering, available on all the Global System for Mobile networks in Nigeria, , enables everyone anywhere in Nigeria open an account from his or her location, by dialling *329# from a mobile phone and following the instructions.

African Development Bank has said, for sustained inclusive development to thrive, a great deal of innovation and thinking are needed to ensure appropriate financial services and instruments should be deliberately put in place for the benefit of the poor and other vulnerable groups. The Bank said there must be provision of appropriate service that is both accessible and affordable to low-income and vulnerable households. This is what the Bank has targeted with the FCMB Easy Account.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Global Accelerex drives financial inclusion with agency network platform - Vanguard NewsGlobal Accelerex, has launched its Agency Network Platform, a revolutionary web-based business solution specially developed for agency banking business to support Central Bank Of Nigeria’s financial inclusion drive.
Source: vanguardngrnews - 🏆 5. / 75 Read more »

W/African finance ministries, central banks to discuss financial inclusion in Lagos – Daily TrustMinistries of finance, central banks, telecoms companies and leaders in the banking industry from 10 nations across the West African region are set to gather in Lagos at The Future Banking Technology Summit to discuss efforts aimed at increasing financial inclusion in the sub-region by 2020. The Future Banking Technology Summit will feature two days …
Source: Daily Trust - 🏆 13. / 51 Read more »

Wema Bank to deepen retail banking footprint with new ALAT - Vanguard NewsWEMA Bank Plc is set to unveil an improved version of its fully digital bank, ALAT, as part of efforts to deepen its footprint in the retail banking space.
Source: vanguardngrnews - 🏆 5. / 75 Read more »

Stakeholders to Expect More Than Regular Banking as Access Bank Unveils New Logo - Vanguard NewsStakeholders have been assured of bigger and better services as Access Bank officially unveiled its new logo on March 31, 2019.
Source: vanguardngrnews - 🏆 5. / 75 Read more »

Global Accelerex launches digital platform for financial inclusion – Daily TrustA financial technology company, Global Accelerex, has launched a revolutionary web-based business solution specially developed for agency banking business called Agency Network Platform (ANP).
Source: Daily Trust - 🏆 13. / 51 Read more »