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|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Iamzik: 9:42am On Aug 18, 2017|
Absolutely. But our supervising agencies are weak and unresponsive to global trends. MTN is more service efficient, customer focused and regulated in SA.
It requires alot of background work to address it's unique risks though and I don't see that in place yet. Probably the reason why it has not been approved.
But we can't keep telcos down for much longer. Global development will eventually force regulators to fall in line at a time they may be least prepared for it.
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by frugal(m): 10:08am On Aug 18, 2017|
ITbomb:Bro, their ATMs give mint notes. You're missing a lot.
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by ivolt: 10:12am On Aug 18, 2017|
How did MMM threatened Nigerian banks when all its transactions were done through banks ?
In fact MMM forced many new participants to join the banking system.
MMM is not a bank and will never be!
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Fearlez: 10:43am On Aug 18, 2017|
You mean mobile money. A system which serves as an alternative for dirt-poor countries like Kenya which has one of the poorest traditional banking institutions and facilities! Where people carry their money in SIM cards.
That should be for market women and artisans.
And that's what you're canvassing for MTN to do here? A South African firm that can't even provide 1/3 of its services it provides in south Africa?
A company that was forced to adopt per second billing system? A company that was trailing in 3G and 4G implementation? Your Nigerian roots are not firmly entrenched in our geopolitical soil.
Nigerians don't need mobile money banking! We have one of the best banking institutions and facilities and cash base in Africa. They's why our banks and firms are spreading from West to Eastern Africa.
Nigeria isn't Kenya.
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Iamzik: 10:53am On Aug 18, 2017|
All the issues you raised are traceable to weak regulations and Incompetent regulatory agencies.
Put proper regulation in place and watch.
Cash is going into oblivion. Digital currency is the future and you can't fight it.
Those nigerian bank's in Europe do they operate thesame model we have here? No
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Fearlez: 11:08am On Aug 18, 2017|
Neither do they operate Kenyan mobile money which is meant for the worst of 3rd world countries like Kenya where people carry their money in SIM card. What a heck!!!
Let me ask you? Doest MTN operate mobile money in south Africa?
You never paused to ask yourself why a country like Kenya, that has 9 of Africa's biggest slums is leading in mobile money. That's because the world doesn't buy into that whack idea.
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Iamzik: 11:27am On Aug 18, 2017|
Every product is targeted at a specific market segment.
Are you saying that there is no market for mobile money in Nigeria?
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Hbuyosh(m): 11:51am On Aug 18, 2017|
Kenya is not a dirt poor country. The 8th largest economy in Africa, and one of the most vibrant and diversified cant surely be categorized as dirt poor.
The mobile money system in Kenya, called Mpesa- wasnt invented because the traditional banking institutions in Kenya are poor. The challenges that were afflicting the Kenyan conventional banking industry when the mobile banking was introduced a decade ago were not dissimilar from the challenges faced by the Nigerian banking system today.
For starters, only 33% of Nigerians have bank accounts. That was pretty much the same percentage of the persons financially included in Kenya in 2007. Nigeria is not Kenya really?
Mobile money was not initially intended to serve as an alternative to the conventional banking system, rather it was created as a means of transfering money from person to person. Slowly it morphed, it diversified its range of services, among which included the similar services offered by banks ie savings accounts, lending services, etc.
The Mpesa is not just for those in the lowest strata of the society. It is used by people from all station in life. And it has made things really convinient here, ie I just paid for my wifi at the comfort of my chair.
Certain big banks in Nigeria are opposed to mobile banking cos of its potential to dent on their control of the market and revenue. But some 67% of Nigerians are financially excluded!
The market women and artisans are not lesser humans, undeserving of banking services.
Kenya is the leading country in Africa poised to become a cashless society due to the widespread use of mobile banking instead of cash. It is the mode of financial transaction almost everywhere, even the conventions banks have started offering their services via the mpesa services.
Nigeria is not Kenya, ah?
.........last time I checked, 70% of Nigerians are living in absolute poverty compared to just 40% in Kenya. Indeed, Nigeria is not Kenya.
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Fearlez: 12:17pm On Aug 18, 2017|
Your long epistle is all baloney. Kenya has an economy of 70 billion dollars. That's not dirt-poor, it is pathetically poor. Laughable.
So when you say Kenya is 8th largest African economy, yes you may be right but it's a misleading possition as only Lagos state has an economy bigger than all of Kenya.
Secondly, 53% of Nigerians own bank accounts. Stop telling pathetic lies or pulling data out of your game reserves. And that number is nearly twice the population of the entire Kenya.
Mobile banking is pioneered by Kenya a country that has Africa's biggest slums and rely on wild animals, which was set up by private British citizens under charity to feed.
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Hbuyosh(m): 1:52pm On Aug 18, 2017|
Like I said, even the pipo in the lower fringes of society deserve to be financially included. 53% of the adult Nigerians have bank accounts, what about the remaining 47%?
Kenya is one of the continents most "overbanked" countries in Africa fyi, and here I am not refering to mobile banking....
And it is all about quality my friend, not size. Lagos is not as posh as Nairobi despite boasting a larger gdp than Kenya. It cant even supply its residents stable water and power supply and fast internet like wtf!
Big economy my foot!
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Chukazu: 2:28pm On Aug 18, 2017|
Those monies where mainly on transit...so people could access money that ordinary would be have been deposited in Bank and left without capital appreciation
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Fearlez: 3:14pm On Aug 18, 2017|
Hbuyosh:have you admitted you lied only 33% of Nigerians own bank account. You're pathetic.
The other 47% are largely made up of people not legally qualified to own bank accounts due to age and of course the very old citizens.
So you would deliberately post false information just to score cheap point? The essence of your life must really be measured by our opinion of your inconsequential country.
Nairobi came to world maps because the world value your game reserve and wild animals more than they value lazy People like you who can't grow your economy.
Half your countrymen and women still carry their entire savings on thier SIM cards and you want to tell me you aren't in a dire need device charity?
How did a tiny country like Kenya manage produce 7 slums out of Africa's 16 slums?
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Hbuyosh(m): 3:58pm On Aug 18, 2017|
I did not lie about the 33%. That was the percentage as of 2015. We are in 2017% now.
Read the below report, kindly.
Kenya had a similar percentage of pipo with bank accounts as of 2008.
Kenyan banks....I mean tge brick and mortar banks, are reaping huge profits these days, meaning more Kenyans are enjoying these banks' services.
The mobile money technology is inferior to u cos it was invented in Kenya, Africa. Were it was first developed in the America, the west or in the far east? I bet tht u would have appreciated the technology, without all these negative opinion regarding the idea.
Why mobile money such an unimpressive idea when the mobile phone itself is such an impressive piece of invention, a necessity for all these days. We Kenyans made it a tool for more than just calling and texting, turned it into a bank.
Now, regarding the slums....slums cover just 6% of the Nairobi total area.
Kibera is Kenya's largest slum, but read the following expose by the Guardian newspaper regarding the lies been peddled around regarding the population of the place.
The largest slum in Kenya has less than 300,000 pipo, non has a million pipo.
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Fearlez: 4:19pm On Aug 18, 2017|
Hbuyosh:and we're in 3017!!! I gave you the most conservative percentage. The average percentage reported by media for 2017 is 60%.
If you can't even ask Google for stat, why should I waste my time engaging a 21st century noncompliant human you?
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Hbuyosh(m): 4:30pm On Aug 18, 2017|
Fearlez:Why didnt u use that google to first familiarize yourself with the Kenyan banking industry before spouting all that stvpid nonsense?
The same is the case in the Kenyan banking industry. So wtf.
U havent disputed that 2015 statistic idi0t.
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Fearlez: 5:53pm On Aug 18, 2017|
Hbuyosh:Your father is the pure-breed idiot whose brain power was only able to fetch him a ranger job.
Kenya is using mobile money because you are flithy poor and have no credible banking institutions. End of story.
Stop trying to measure up. You disposable filth of humanity.
Kenya is no where a power house in Africa in any field. So dispense with the pretence.
Bastard son of a deadbeat h00ker. You're posting false statistics and still have the shamelessness to talk. Low-level M0r0n
Tell me how many indigenous Kenyan banks are operating outside East Africa?
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by GERALD710: 8:01pm On Aug 18, 2017|
Fearlez:This shows how IGNORANT you are.
Kenya has some of the most advanced banks on the continent by virtue of the fact that Banks have been in Kenya faaar longer than in Nigeria.I have never forgotten the fact that Nigeria got its first ATMS(After their introduction in the 80s backfired) in the early 2000s when Kenya has had ATM machines in Kenya since 1983. Nigeria's banks are known for their poor customer service, a constant complaint all over the internet, as well as the fact that loan fraud is rampant in Nigeria simply because you have no ID system and not all banks have verified their customers biometrically(which btw is a recent phenomenon in Nigeria)
2.Banks have THRIVED because of MPesa and vice versa.I can seamlessly transfer money from my MPesa to my savings account and when I need cash and do not want to go to an ATM, I can do the reverse as there are MPesa+Airtel Money agents within 500 metres of almost every residential area.
As for Kenya being filthy poor. My I direct you to the Human Development Index and look at Kenya's position and Nigeria's position before hurling abuses.You are clearly the semi-literates we often hear about here in East Africa
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by alexxo11(m): 8:04pm On Aug 18, 2017|
GERALD710:but why do you argue with pple who abuse your parents.....??its not worth it...
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Fearlez: 9:48pm On Aug 18, 2017|
You Kenyans have less brains than the animals in your game reserves.
I asked a simple question: how many Kenyan banks are operating FDI in other African countries?
Nigeria has so many of her banks in West and East Africa. So tell me where are Kenyan banks.
You un-evolved primates will end up writing long epistles than answering the questions.
The answer is simple. Kenyan banks are as poor as Kenya. A country with a laughable 70 billion dollar economy has no business or means crossing its borders.
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Mazeltovscotty(m): 9:58pm On Aug 18, 2017|
boyjo:Point of correction.
The evolution and re-evolution of the Nigerian banking sector shares no blood or link with the influence of parasitic engineers (unqualified) working in the sector.The evolution of the nigerian banking sector started as early as 1952 with series of government reforms and policies which were supervised by the Apex financial institution. It started from the era of Banking regulation down to the golden era of recapitalization policy which every one believes that widens the scope of the Nigerian banking sector.
Secondly, the qualification ( Banking and finance) of the caliber of people working in Union Bank has nothing to do with the financial services they render.
Union Banks that we see today choose to deliberately capture a certain section of consumers which are mostly old men, pensioners and retirees.
If you can visit and of their ATM gallary, whay you will see displaying on the screen is the picture of on old woman wearing old school clothe with afro hair style and with "WE ARE OLD GENERATION BANK" scrolling underneath hence, the need to tailor their financial services that suit their policy and customers.
This does'nt mean union bank is sinking, they are only trying to create a monopoly power on the aged customers which is working for them.
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Hbuyosh(m): 10:29pm On Aug 18, 2017|
If u are smart as u think, use that google to confirm if there arent any Kenyan banks and other companies with investments in other countries in east, central and southern Africa.
Our banks are in Zambia, Congo, Malawi, Rwanda, Burundi etc.
Read that article above.
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Fearlez: 11:00pm On Aug 18, 2017|
I knew you were a 1st class m0r0n. Your article said East Africa, which by the way is Africa's poorest region is where your penny banks are.
Point me outside East Africa.
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Hbuyosh(m): 11:58pm On Aug 18, 2017|
Fearlez:Kenya has more banks per head than any other country in Africa. Nigeria has only 22 banks for 180mln pipo (no wonder they are so big).
Call me mor0n again...
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Hbuyosh(m): 12:11am On Aug 19, 2017|
Fearlez:The first class m0r0n is the he who cant even read a small article and understand.
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Fearlez: 7:30am On Aug 19, 2017|
Hbuyosh:This is what happens when a ranger raises a son. Nigeria used to have hundreds of mushroom banks with weak financial bases and poor infrastructure until we reconsolidated and became a true financial giant.
Kenya has too many banks as week as your economy and weak in financial bases that's why GSM companies are taking over your financial system.
It's never about bank per head, but financial bases.
Keep drowning in your sea of ignorance.
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Fearlez: 7:33am On Aug 19, 2017|
Hbuyosh:Your article falls short of the scope I put before you.
You have been bothering Google everytime I throw a poser before you, yet you keep falling like a blind man walking without his guide.
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Hbuyosh(m): 9:41am On Aug 19, 2017|
I have already challenged your misguided sentiment that the Kenya banking industry is poor, quite tge contrary. It is more vibrant and diverse probably even more than your banking sector. Mobile banking has made the services all the more efficient, the idea hailed by experts accross the world, who are many times smatter than u will ever be.
Now, u can argue and spew the insults all u want, but that is the reality about the Kenyan banking industry, contrary to your prejudiced perception.
Oh, 90% of Kenyans have bank accounts, the most financially included people in the continent, a combination of both the conventional banking and that mpesa mobile banking innovation u so deride.
Conventional banking services are available on tge mobile platform, as most banks have resorted to reaching their customers via this means.
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Fearlez: 11:09am On Aug 19, 2017|
You're Africa's dwarf. Conversing with a Kenyan is like teaching chimpanzees to master the mirror test.
All you're good at is churning long uncorrelated epistle just to feel good about your mediocre intellect and salvage your dirt-poor country.
Below is the top 50 banks in Africa and Kenya isn't there. I understand you're trying hard to rebrand your country on the pages of Nairaland (a Nigerian forum) but what's on grand in Kenya cannot be altered by what you chirp on here.
Goodluck on your phantom Kenya.
Don't quote me anymore until Kenya manages to have a bank in Africa's top 50.
If you fail to follow this plain instruction, you shall be greeted with a loud silence to remind you that you're nothing.
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by boyjo: 6:25am On Aug 24, 2017|
Am I the one you wrote all these for??
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by GERALD710: 4:01pm On Oct 11, 2017|
Fearlez:Your ignorance about Kenya is astounding.
Kenyans have used banking apps like MCoopCash ,Eazzy Banking and ChaseBank's app to replace banking services for years now,especially MCoopCash which dates to around 2011.
Nigerians marvel at using apps to withdraw from an ATM while Kenyans have been doing so for years.
Equity Bank Customers can access their money via card,app and yes,mobile banking as Equity runs a mobile network specifically just for that.
If Kenya's banking is so underdeveloped as you claim,why is it that Paypal allows withdrawals to Equity Bank
Why is Visa's Africa Headquartets in Nairobi?
Why is Mastercard's second largest market Kenya?
Why is it that mVisa was introduced in Kenya and South Africa first
If Kenya is so poor,why is it that only Kenya and South African banks issue American Express cards??
Same to UnionPay and Discovery.None operate in Nigeria.Union Pay is in Kenya and all merchants as of 2017 support Discovery in Kenya.
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Fearlez: 4:16pm On Oct 11, 2017|
Who's this Lazarus from a 70 billion dollar economy waking up to a dead thread?
You're a 21st century noncompliant citizen. Let me upload your medevial life into the modern era.
Kenya, unlike the rest of the world primarily use mobile money as opposed to full internet banking or mobile banking which is popular around the world.
What you are championing is people carrying money in their phones which is actually for petty market women and artisans.
But then your economy is just a miserable $70 billion in worth. That's not even enough to build reliable banks with international clout and good structure.
Now , will you disappear like the belch of a debaucherous drunk?
|Re: In The Wake Of A Wave Of Fintechs, Banks Are Getting Personal by Fidha254(m): 9:02am On Oct 12, 2017|
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