Sunday, October 30, 2016

List: Direct Download Links to Updated Nigerian Banks Mobile Banking Apps

To make your banking life a whole lot Smart, fun, and easier, adopting D-I-Y (Do It Yourself) concept of Mobile Banking is the way to go. Always convenient, fast and secure. With Mobile Banking services you can do basic banking transactions from the convenience of your mobile phone anywhere anytime.

Compiled in the list below is the download link, reviews and android version support to all banking

Monday, October 24, 2016

EJinsight: Man or Robots, Who Will Win in This Fintech Era?

The topic of the 2016 Financial Planning Association’s Annual Conference was financial technology.

Global financial planners discussed the future direction of the industry and how that would transform our daily life. One of the most interesting topic was whether artificial intelligence (AI) would eventually replace human beings in the financial services industry.

If so, which sub-sectors are more vulnerable?

Bank of the Future May Be Invisible

With more advancement in financial technology, the digital technologies and advanced analytics have the potential to create the Invisible Bank of the future. Powered by artificial intelligence (AI) and activated by voice, virtual banking assistants can become an integral part of our daily lives.

Fintech Development: ​Australia Partners with Kenya

Financial regulatory authorities from both jurisdictions have signed an agreement that will encourage the discussion of cross-border technology concerns.

The Australian Securities and Investments Commission (ASIC) has signed a cooperation agreement with the Capital Markets Authority of Kenya (CMA) in a bid to boost financial services technology for both countries.

The agreement, signed in Hong Kong during a board meeting of the International Organization of Securities Commissions (IOSCO), establishes a framework for both parties that allows the sharing of information on their respective markets such as emerging trends as well as regulatory issues.

According to both parties, the partnership has been established as a result of the growing need to compare regulatory road blocks with other regions, with ASIC noting that innovation in the fintech space is not confined by national borders.

Continue on...

Cellulant was a Winner at the 2016 African FinTech 100 Awards

The African Fintech Award event provides entrepreneurs, bankers, investors and advisors with an opportunity to seek solutions and opportunities offered by fintech startups.

Kenya’s financial technology provider Cellulant was declared the winner of the Payments and Transfers segment of the 2016 African FinTech 100 awards held in Johannesburg, South Africa last Thursday.

Sunday, October 23, 2016

If You Are Really Scared About MMM

I promised Smart Finance Moves on this blog right? I have made myself an "experimental lab rat" in order to get give you a feedback on how it works and in this article are my findings.

If you are one of the chronic doubter of the platform just like myself before, this piece shows you what you can do to test the water, raise your confidence and make money from it safely

Friday, October 21, 2016

Mobile Banking vs Mobile Money vs Mobile Wallet

These three concepts are interrelated due to the niche where they operate, the fintech world. They are not the same thing but many financial institutions name their apps randomly making each platform appear sometimes confusing. The names however have a ring to them that speaks volume of the concept of being "mobile", on the go. That exactly is what they all have to offer, automating banking and financial transactions on mobile devices. This give users more mobility and flexibility of doing business transactions and other activities at any time and anywhere. Financial activities have grown beyond the traditional banking sector.

On many occasions have mobile money apps being denoted as mobile wallets. The understanding of these different fintech platforms seems to elude people and organizations who have found it hard to give any clear definition to their apps. The

Sunday, October 16, 2016

PocketMoni: Funding Your Account

Funding your PocketMoni Account

We discussed about PocketMoni, a product of eTranzact, how to get yourself registered on the platform and as well get the app downloaded in this post. The aim of this post is to show the options available to you for funding in order to be able to use it for your payments and other transactions.

Below is a list and processes for transferring funds into your pocketMoni account for later use during

PocketMoni from eTranzact : Mobile Banking

eTranzact is in the league of Interswitch Group in the world of financial services handling across Africa and the rest of the world. Of course these two fintech giants started operation in Nigeria in the early 2000s, both coys have come a long way and are still waxing stronger. PocketMoni, from the stable of eTranzact is a worthy competitor with Interswitch's Quickteller. Competition is good in any clime, Abi una no remember the tale of Messi and C.Ronaldo? Not actually a tale, we are still in their era but that exactly is what competition can do to anything -Vying to be the best. In our own respect, consumers of fintech services are reaping the prospect in Nigeria and Africa as a whole.

PocketMoni is a mobile payment solution designed to allow users conduct financial transactions anytime, anywhere, from a phone.

The Groom And The Rotund Bull: Part 2

Graciously, the merchant agreed to sell. Tunde was very happy. Unfortunately, enough cash to get this special specie was beyond reach at that moment. He cannot accept to leave the vicinity without any of his selections, none would be left behind. Problem is not about the price but the cash.
The two drivers, Bayo, Uche and two other hands from the ranch have started packing and tying the ones already paid for into the lorry. The groom is down with the merchant brainstorming how best to get cash across, then something clicked.

Saturday, October 15, 2016

Online Credit Facilities in Nigeria: In Need of Funds Urgently?

Ignorance will not be you excuse for financial handicap anymore after reading this piece. 
Are you in any urgent need of money to: Sustain till month end; Complete a project; Start up as an entrepreneur; Keep yourself out of a mess; Have a splendid weekend with that new hot babe (Isn't this a really bad decision, who cares?); or Lemme guess, You've butchered your school fees and the school authority is breathing down your neck this exam period so there's urgent need to pay your arrears, I can relate, calling home is a no-go area. 

Securing loan from banks and

Friday, October 14, 2016

Affiliate Marketing: Leveraging on Nairaland, LIB and Others

Nairaland (NL) forum website and Linda Ikeji's Blog (LIB) are known to be the online traffic cabals in Africa. 

Seun Osewa is a magnanimous human being, I believe he's trying his best everyday to tame his tumultuous and rebellious online machine. Not his fault, how well can you, Yes You! out there manage a group of civilized human beings albeit packs of energetic e-warriors and unrestrained political fanatics? This man is trying his best. Leave ethnic chauvinism and political jingoism (the two sections filled

Affiliate Marketing: You Do Not Require a Blog or Website to Start

You do not have to own a website or blog to make money from affiliate marketing. Yes, you read that correctly. Online social or forum account is good for a start, I am a witness.

Affiliate marketing is the process of earning a commission by promoting other people's (or company's) products. You find a product you like, promote it to others, and earn a piece of the profit for each sale that you make. Smart Passive Income

Digital Finance Can make Your Life Easier and Strengthen Nigeria Economy

The earlier we adopt digital finance the better for the economy and for all parties concerned,humans, banks, corporate bodies, or the government? Just mention it.

 Increase to GDP from digital financial services by 2025

In the not too distant future, I am patiently awaiting that time when in Nigeria and Africa as a whole people will fail to recollect the last time they went to a bank branch to make a payment. Digital finance has transformed rich countries, where many now consider paying bills online, sending money to biz partners and family from phones, and not having to wait in line at the bank, as a norm.

In developing nations, however, two billion people don’t have access to basic financial services such as savings accounts and credit. That’s almost half of the developing world’s adult population. Giving most of these people access to those services using mobile phones and the internet would increase the GDP of emerging economies by $3.7 trillion by 2025, according to a study by the McKinsey Global Institute. That’s a 6% boost.

Continue reading on...

Thursday, October 13, 2016

The Groom And The Rotund Bull: Part 1

This is going to be a once in a lifetime celebration. Yes, it comes bet once –his wedding. After this, the rest would be anniversaries and all the glamour would have faded, at least a little.

Tunde had promised his bride to hunt for the best flock of cattle humanely possible, and present to her family specifically, “a fat and rotund one”. He laughed out to his proud self, forgetting the entire outside world around him. The driver jolted him out of his reverie, cutting him short with “Oga you are really happy o, and I am happy for you”.

Tunde suddenly “boned face” feigning serious and stern look but he can’t helped it. Could he? He has got to relieve himself of those military stances because this week till weekend, he is the groom

Exhaustive List of Commercial Banks in Nigeria, October 2016

This is a thoroughly curated list of active and licensed commercial banks in Nigeria as at 13 October, 2016. You are free to suggest your bank if it was omitted.

Names Head Office Address Website
Access Bank Plc Plot 999c, Danmole Street. Off Adeola Odeku/Idejo Street.Victoria Island, Lagos
Citi Bank Nigeria Ltd 27, Kofo Abayomi Street, Victoria Island, Lagos
Diamond Bank Ltd Plot 1261, Adeola Hopewell Street, Victoria Island, Lagos.

The Interview: Part 3

«« Part I  « Part II

Part III

...explained "I am still paying you only that the money will go into your bank account".

The driver retorted, "Who told you I get bank account?" Jovially seeing that the man is no more tensed he said "Oga, big man like you go get one now."
By this time, the driver was curious and the passengers were listening in on the conversation with each one eager to know about the end of the drama. One more person and the bus would be ready for take off.

Wednesday, October 12, 2016

The Interview: Part 2

Part II

« Part 1 Part III »

By 10:02am his taxi stopped by the Iwo road park. Lagos buses are always conspicuous from any direction in any park, even all over Nigeria. Getting down, the sun was shinning crimson gold, so bright Ope had to cover his face from the illumination. He complained to nobody in particular "Na wah o, the kind weather wey we dey experience these days sef" and switching to Queen's English almost effortlessly "Is this not too much for a Monday morning now?" His grumbles was about the heat he would experience on whichever bus he might board eventually. As he was walking towards the inner section of the motor park, different conductors rushed, dragging him and trying to buy him over when he told them his destination he was left with just one of them who guided him to the loading bus.

Adding to his discomfort was a throbbing ache on the right side of his head, from the temple down to the nape. Runny nose was automatic, right eye grew red and teary with the pulsating pain stringing the right part of his face with each beat of his heart. He sometimes experience this sensation whenever he's faced with a stressful situation like this very one. It was as if the devil himself is organizing a party around that part of his body. Ordinarily, he would have opted out of the interview if it hadn't being his childhood dream job, and the urgency involved.

Thank heavens, the migraine did not last long as always but the short intense fit of about 10 minutes was soul-wrenching.

After securing a seat, two more passengers would get the bus filled up. This is serious, there would be not much wait for him to get a cash at the ATM close by. He looked in the direction of the bank, shook his head, the same old story. Throngs of angry and anxious users are on a really long queue. Each person on the lookout for anyone to try to outsmart, lynching with curses will be inescapable. The sun is scorching no be small.

Plan B was activated, trying his luck with the driver before he started collecting the fare.
"I better try my luck with the driver", that seems to be the best move now was his conclusion. He was calculating frantically how to break the ice, these drivers can be lousy and derisive. He would have to bargain with the driver using mobile banking option to pay  else joining the next turn and the god-forsaken ATM queue would be a bad choice but who knows...

He approached in the most polite way as he could but the man answered back half-heartedly. Drivers do not count politeness as a virtue, they are used to polite perverts in the park every other day, to them, no one is to be trusted.

Ope started almost doubting his own words but suddenly gained the courage "Oga I beg o, I get one issue." he paused a little, expecting a feedback, none came and he continued
"I get one very important appointment now, in fact if I no reach Lagos in 2 hours time na serious problem for me".

The driver answered "So?" vaguely and with clear disinterest not minding who was talking.

Ope furthered "its about the fare..." and abruptly, the driver cuts in
"Eh..en, what about the fare? Is it too expensive again? You know how much we buy fuel per litre now? You..." 
He was ranting away when Ope interrupted with "No, it's not that. I do not have cash on me here but I have a way to ..."
"No no no no no..." he was so loud that every person nearby was gazing in their direction.
All the passengers in the driver's bus were already onto was was transpiring, the whole show was ongoing beside bus.
He continued "...go get the money or join the next turn, I no be father Christmas. Abeg na money..." he did the sign of counting money using his right fingers to scrape the left palm repeatedly " money I want else join the next bus."

He allowed the driver to calm down a bit and ...

~~ Mobile BankingUSSD Banking, eaZymoney, Quickteller~~

continued on part 3/3...

« Part 1  Part III »

The Interview: Part 1

Part 1 

Part II » Part III »»

OMG! He shouted, jumping up from the sofa where he laid after leaving the bed. His very much treasured sofa positioned adjacent to the bed side. It has become an early morning ritual, laying on the sofa after each wake to surf the net for twilight news or check through his mail before any other thing. He was unusually lazy this Monday morning and woke up so late. Keeping late before bed really got to him this time, never going to sleep until well after 3am.

Tuesday, October 4, 2016

Mobile Banking in Nigeria

Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct a range of financial transactions remotely using a mobile device such as a mobile phone and using software, usually called an app, provided by the financial institution for the purpose. Mobile banking is usually available on a 24-hour basis. Some financial institutions have restrictions on which accounts may be accessed through mobile banking, as well as a limit on the amount that can be transacted. Wikipedia: Mobile Banking

Mobile banking: USSD Banking in Nigeria

USSD Mobile banking in Nigeria

See Mobile banking in Nigeria for a general introduction to mobile banking.

Unstructured Supplemetary Service Data (USSD), that is a technical term in the telecommunication industries you do not have to bother much about unkess a nerd, to dig more about it on google.
We are more concerned about its application to the world of mobile banking.

Of course you are familiar with the use of telecommunication companies' (telcos) USSD codes to query for various information about your account. In Nigeria, *556# and *123# fetches your airtime balance with MTN and Airtel network respectively, by prompt on-screen response on your mobile. The response displays your expected information from the service provider. It is no more a telcos thing, USSD is gaining more ground across many fields that have adopted technology in passing information across to people. East Africa most especially Kenya is championing the course of mobile technology on a global scale, companies such as Hamwe Technologies a mobile value added services provider and aggregator with SMS and USSD gateway connections to mobile network operators, has rolled out a couple of USSD implemented services across sectors such as agriculture, health, finance etc.

Below is a list of financial instutitions making use of USSD Mobile Banking in Nigeria and their shortcodes. Follow the links for a concise peruse of each platform's offers or kindly check this page often for updates.

CompanyMain USSD code
Diamond Bank    *710#
Fidelity Bank*770#
First Bank*894#
Skye Bank*833#
Sterling Bank*822#
Unity Bank*389*215#
Wema Bank*322#
Zenith Bank*966#

USSD is extensively used by telcos however the trend have changed. Financial institutions via Mobile Banking is making the usage of USSD shortcodes trendier. Gone are the days you need to get into a banking hall just for a clue of your account statement or to transfer funds to business partners or relatives. All these can be accomplished with mere press of a few buttons or scroll through a few menus on your mobile phone.

It does not require the use of sophisticated phone, see USSD transaction going on on the basic phone below.

Right with you is your whole bank. Dialing the relevant USSD shortcode releases at your very reach, the world of inclusive financial transactions absolutely within seconds. Welcome to the 21st century, the era that technology finally took over.

How Mobile Banking Works?

  • Make use of the correct USSD short-code relevant to your transaction and platform.
  • Use the correct code and follow the prompts, it is very easy and intuitive. 
  • Provide your card serial or PIN when requested.
  • You will receive immediate response and prompt on what to do next.
  • Confirmation of successful transaction will be communicated to you by SMS or email or both. 
  • Unsuccessful transaction will be communicated to you by directly and you will not be charged.