The banking industry has faced a series of challenges and crises in the past year, from the collapse of several regional banks in the US to the regulatory crackdowns and...
Category: Finance
CBN to restrict 70 million bank accounts without NIN or BVN
The apex bank has issued a circular stating that all Tier 1 bank accounts and wallets for individuals must have Bank Verification Number or National Identification Number by March 2024....
Bank accounts without NIN/BVN face restrictions as deadline expires
The Central Bank of Nigeria has directed banks to place restrictions on all Tier 1 bank accounts without NIN or BVN from April 2024, causing panic among customers. The Central...
Exchange Bank welcomes Kevin Bender as new chief banking officer
The California-based community bank has appointed a veteran banker with over 40 years of experience to lead its retail and electronic banking operations. Exchange Bank, a full-service community bank headquartered...
RBI Slaps Fines on Five Co-op Banks for Regulatory Violations
The Reserve Bank of India (RBI) has imposed monetary penalties on five co-operative banks for non-compliance with various directions issued by the central bank. The banks that have been penalised...
ANZ-Suncorp Merger: A New Era for the Australian Banking Sector
The Australian banking sector is undergoing a major transformation, as ANZ, one of the big four banks, has agreed to acquire Suncorp’s banking arm for $4.9 billion. The deal, which...
How the Banking Sector Clean-Up Saved Ghana from Economic Collapse
The banking sector clean-up that took place in Ghana from 2017 to 2019 was a crucial intervention that helped the country to cope with the Covid-19 pandemic and the economic...
Why Singaporeans Are Not Ready for Digital-Only Banking
Singapore is one of the most advanced and digital-savvy countries in the world, with a high penetration of smartphones, internet, and mobile banking. However, a recent report by EPAM, a...
The Bank of England’s Dilemma: To Follow or To Lead?
The Bank of England (BoE) is facing a tough choice: whether to follow the lead of the government and the industry on global banking reforms, or to stick to its...
Velmie Unveils New Platform for Business Banking Solutions
Velmie, a fintech company that specializes in developing digital banking software, has announced the launch of its Business Banking Platform, a comprehensive and customizable solution that aims to address the...