Notwithstanding border restrictions, the region’s digital payments ecosystem is growing as countries collaborate to connect their domestic payment systems.

This initiative follows the Central Bank of Nigeria (CBN) directive to enable global money transfers to be paid in US Dollars in an effort to streamline and increase the flow of formal diaspora remittances into Nigeria.

A microfinance institution, Citygate Global, has unveiled a multi-purpose mobile loan application, Monéé, which was designed to also cater for loan, savings, funds transfer services, investment, bill payment and others.

Singapore residents are increasingly adopting digital payments due to the COVID-19 pandemic, according to a GlobalData report.

Singapore is planning an online and physical fintech festival amid the spread of the coronavirus across the globe.

Experts have called for the restructuring of loan facilities in Nigeria, to alleviate the adverse effects of some government policies on women.

The collaboration enables UNFCU members to transfer money to mobile wallets in select countries in local currencies.

IFC announced a $50 million loan to Nigeria’s First City Monument Bank (FCMB) Limited to help it expand lending to small and medium enterprises (SMEs) so they can sustain business activities disrupted by the COVID-19 pandemic.

The global fintech challenge aims to offer solutions that can help financial institutions grapple with the existential threats posed by COVID-19 and climate change.

As part of measures to cushion the impact of the coronavirus pandemic, the Chief Executive Officer of FirstBank Nigeria, Dr. Adesola Adeduntan, has disclosed that banks are currently offering customers access to low interest funds.