News

May 11, 2017
7 Reasons Why Nigeria Is Set to Be Africa’s Leading Fintech Hub
1. Nigeria witnessed a significant increase in mobile money operations in 2016. As per research by Finextra, mobile money operations in Nigeria grew from an average monthly transaction value of US$ 5 million in 2011 to US$ 142.8 million in 2016. 2. The rise in fintech activity in the country can be attribute...
May 9, 2017
Central Bank of Nigeria to Endorse the New Age Banking Summit, Nigeria
The Central Bank of Nigeria has joined the New Age Banking Summit, Nigeria as the Endorsing Partner. The event, which is organised by UMS conferences, is scheduled for 26 to 27 September, 2017, in Lagos Nigeria. It will bring together leading industry experts and regulators to explore disruptive financial te...
March 31, 2017
An Overview of the E-Banking and E-Payments Landscape in Nigeria
Nigeria is moving towards a cashless economy In January 2012, The Central Bank of Nigeria (CBN) introduced the cashless policy, which has three primary objectives: I. The development and modernisation of Nigeria’s payment systems to drive economic growth II. The provision of more efficient transaction opti...
March 29, 2017
AI to become main way banks interact with customers within three years: Accenture
Artificial intelligence (AI) will become the primary way banks interact with their customers within the next three years, according to three quarters of bankers surveyed by consultancy Accenture in a new report. Four in five bankers believe AI will “revolutionize” the way in which banks gather informatio...
March 24, 2017
3 Trends That Will Disrupt Mobile Banking in 2017
According to estimates by Statista, there are currently 4.77 billion smartphone users across the globe. 70 per cent of millennials, which constitute approximately a quarter of the global population, use mobile banking apps. Mobile banking is expanding rapidly, and is set to skyrocket in 2017. Here are 3 key ...
March 23, 2017
African Banks and Telcos Seek Partners to Fight Cyber-Threats
African banks and telcos are seeking partnership approaches to curb threats of mobile banking malware. In a bid to avert the growing trend of mobile malware, African banks and telecommunications companies are looking for collaboration and partnership approaches, Mariana Kruger, general manager, ICT and conve...
March 10, 2017
UMS Conferences Launches the Nigeria Edition of the New Age Banking Summit
UMS Conferences is set to launch the Nigeria edition of the highly acclaimed New Age Banking Summit. The event is scheduled for 26 to 27 September, 2017 in Lagos Nigeria, and will bring together leading industry experts, regulators and thought leaders to provide exclusive insights into the trends and technol...
March 9, 2017
FinTech to distrupt retail banking by 92% in Nigeria
  Nigeria’s retail banking and payments sectors will be the most disrupted by a group of new companies building financial technology (FinTech) solutions, according to the PricewaterhouseCoopers (PwC) Nigeria FinTech Survey 2017 report released in Lagos, at the weekend. FinTech is an industry composed ...