Photo by Alena Darmel on Pexels.com One of the best ways to sell financial products and services digitally is on the mobile banking app itself. With consumers accessing their mobile banking multiple times each week (or day), this platform provides unparalleled capabilities to engage and drive sales activity. Financial institutions use mobile banking apps for … Continue reading Banks and Credit Unions Must Improve Use of Mobile Apps for Selling
Tag: banking
Nigeria to spend next 40 years repaying controversial N23.72tr CBN overdrafts to FG
The Senate, yesterday, abandoned its previous hard-line stance and approved the conversion to a 40-year bond of the N23.72 trillion Federal Government’s unappropriated expenditure funded by the Central Bank of Nigeria (CBN) through its ways and means (W&M) window. President Muhammadu Buhari, last year, wrote the National Assembly to approve the amount alongside a fresh … Continue reading Nigeria to spend next 40 years repaying controversial N23.72tr CBN overdrafts to FG
BANK SCAMS: How to spot it and protect your finances
Photo by Anna Tarazevich on Pexels.com Bank scams are an unfortunate and infuriating reality of our modern world. The lasting impact they can have is far reaching, with some victims losing everything from their homes to their treasured relationships with friends and family. Despite what many people believe, anyone at any age can be affected. … Continue reading BANK SCAMS: How to spot it and protect your finances
POS Operator Lavishes N280m Received in Error
Policemen have arrested a Point-of-Sale (POS) operator who reportedly went on a spending spree after N280m was erroneously transferred to his account by a commercial bank. The POS operator identified as Alfa Rafiu was arrested by the police on Monday in Ilorin, Kwara State capital. PUNCH Metro gathered that the suspect is a resident of … Continue reading POS Operator Lavishes N280m Received in Error
Why Nigerian Banks are changing brand names
Nigerian banks are repositioning for more significant impacts, better product offerings, and higher returns on investment. Apart from announcing several changes, the banks moved to solidify their leadership positions by changing names, branding, and operational structures. Nigerian banks seek new frontiers and new profits Earlier in March, one of Nigeria’s leading banks, Zenith Bank, announced that it … Continue reading Why Nigerian Banks are changing brand names
Is Conversational AI the expected gamechanger in banking?
Photo by Andrew Neel on Pexels.com Bankers Believe Conversational AI Will Be a Game-Changer, Eventually. The level of acceptance and use of conversational AI is likely to continue growing over the next several years as the capabilities and deployment across multiple applications in every industry continues. While there has been unprecedented coverage of ChatGPT in … Continue reading Is Conversational AI the expected gamechanger in banking?
The Power of Chat Can Improve Engagement and Sales Effectiveness
Photo by Pixabay on Pexels.com Financial institutions have been increasingly using chat functionality for customer engagement in recent years, whether on mobile apps, within online banking, or on their website. The research indicates that the extent to which organizations effectively leverage this functionality varies. For instance, the greatest usage of high-level chat communication is evident … Continue reading The Power of Chat Can Improve Engagement and Sales Effectiveness
5 French banks raided in alleged tax fraud investigation
Authorities raided the Paris offices of five banks Tuesday on suspicion of tax fraud, French prosecutors said. The raids come as part of five preliminary investigations opened in December 2021 on allegations of money laundering and tax fraud linked to dividend payments, the French National Financial Prosecutor’s Office said in a statement. Prosecutors didn't specify … Continue reading 5 French banks raided in alleged tax fraud investigation
Banking system best option to safeguard your funds – NDIC to Nigerians
The Nigeria Deposit Insurance Corporation, NDIC has reiterated its call to members of the public, particularly, the Medium, Small and Micro Enterprise (MSME) sector, to ensure they only save their money within the formal banking system. Insisting the NDIC has the capacity to protect all bank deposits, the Corporation said that such deposits enjoy effective … Continue reading Banking system best option to safeguard your funds – NDIC to Nigerians
Is Credit Suisse helping wealthy Americans evade tax?
Photo by Lukas on Pexels.com Credit Suisse continues to help ultra-wealthy Americans evade taxes and had concealed more than $700 million from tax authorities in violation of a 2014 plea agreement, the U.S. Senate Finance Committee said Wednesday. After concluding a two-year investigation into Credit Suisse, the committee said it had uncovered "major violations" of … Continue reading Is Credit Suisse helping wealthy Americans evade tax?
Banking Regulation: Biden administration calls for strict measures
The White House is readying plans to push federal banking regulators to impose new rules on midsize banks after the collapse of Silicon Valley Bank (SVB) earlier this month, The Washington Post reported Wednesday, citing two people familiar with the preparations. The planned recommendations for Democrat President Joe Biden would push for rules to be reinstated for … Continue reading Banking Regulation: Biden administration calls for strict measures
US raises interest rates despite banking turmoil
Photo by Pixabay on Pexels.com The US central bank has raised interest rates again, despite fears that the move could add to financial turmoil after a string of bank failures. The Federal Reserve increased its key rate by 0.25 percentage points, calling the banking system "sound and resilient". But it also warned that fallout from … Continue reading US raises interest rates despite banking turmoil
Silicon Valley Bank seeking bankruptcy protection as banking turmoil persists
Silicon Valley Bank (SVB) Financial Group said on Friday it filed for a court-supervised reorganization under Chapter 11 bankruptcy protection to seek buyers for its assets, days after its former unit Silicon Valley Bank was taken over by U.S. regulators. The move to commence bankruptcy proceedings comes as emergency measures to shore up confidence have … Continue reading Silicon Valley Bank seeking bankruptcy protection as banking turmoil persists
ECB raises rates by 50 basis points, pledges further hike in March
The European Central Bank on Thursday confirmed expectations of a 50 basis point interest rate increase, taking its key rate to 2.5%. In a statement, it pledged to “stay the course in raising interest rates significantly at a steady pace” and, in unusually firm language, said it intended to hike by another 50 basis points … Continue reading ECB raises rates by 50 basis points, pledges further hike in March
Zenith Bank suspends dollar transactions on naira ATM cards
Zenith Bank has suspended international transactions on its Automated Teller Machine (ATM) cards. Zenith Bank, in a notice addressed to its customers and cited by MEZIESBLOG.com, said its new development would take effect from Monday, January 9. “Please be informed that you will be unable to use your Zenith Bank Naira cards for International Automated … Continue reading Zenith Bank suspends dollar transactions on naira ATM cards
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