E-Financial
Digital Banking Users to Reach 3Bn by 2021- Report

Nearly 3 billion users will access retail banking services via smartphones, tablets, PCs and smartwatches globally by 2021, up 53% from this year.
This is according to a report by Juniper Research titled: Retail Banking: Digital Transformation & Disruptor Opportunities 2017-2021, which found that while traditional banks have so far remained a step behind in delivering innovation and maintaining their competitive edge against new fintech players, the situation is gradually changing.
The research notes that usage of tech devices for banking purposes will continue to rise as consumers increasingly opt for banks offering the convenience of rapid, multi-channel digital services.
This means that banks will need to focus on providing a more frictionless digital experience to their customers, especially if they are to remain market leaders, adds the report.
“Technology is currently the big differentiator for all types of banks; including traditional banks and the so-called challenger banks. Investments in banking technology reached record levels in 2016 and traditional banks are expected to focus on digital transformation initiatives”, explains Juniper Research author Nitin Bhas.
Juniper predicts that in 2017, big banks will acquire challenger players including tech start-ups and digital-only banks, and this will further accelerate the rollout of traditional players’ digital strategy.
The 2016 Nielsen mobile shopping, banking and payment survey shows SA’s vast mobile adoption has made South Africans more receptive to making payments, doing banking and shopping on a mobile device.
The survey, which polled 30 000 people with online access in 63 countries, including SA, found South Africans are outpacing global nations in terms of online mobile adoption. In the banking sector, local respondents were particularly responsive, with 67% saying they use their phone to monitor spending and manage finances, compared to 32% of global respondents.
George Kalebaila, IDC senior manager for telecoms, media and Internet of things in Africa, says: “South Africa’s banking industry is moving at pace with developed economies in terms of digital transformation, and we expect as the digital ecosystem matures, we will see more and more transactions and services move to the digital platforms, radically transforming the way we interact and conduct our lives.
“And mobility without a doubt is a key driver of this transformation, especially when applied in conjunction with other emerging technologies, such as the Internet of things, analytics, augmented/virtual reality and social media.”
E-Financial
Secret Service Seizes $400M in Crypto, Cold Wallet among World’s Largest

US Secret Service has quietly seized nearly $400 million in digital assets over the past decade, amassing one of the world’s largest crypto cold wallets, Bloomberg reported at the weekend, citing people familiar with the matter.
The agency’s Global Investigative Operations Center (GIOC) has tracked funds through open-source tools, blockchain analysis, and patience, Jamie Lam, an investigative analyst with the US Secret Service, reportedly told law enforcement officials in Bermuda last month.
The agency’s crypto trove, much of which sits in a single cold-storage wallet, results from a string of investigations into scams. Scammers lure targets into seemingly legitimate crypto investment platforms in one typical scheme.
Victims often see initial profits before the sites vanish with their deposits.
“That’s how they do it,” Lam said. “They’ll send you a photo of a really good-looking guy or girl. But it’s probably some old guy in Russia.”
Lam’s team uses domain records, blockchain transactions, and VPN slip-ups to identify fraudsters. In one case, a cryptocurrency payment led investigators to another wallet. In another one, a brief VPN failure exposed an IP address, helping agents piece together the scam’s digital trail.
At the helm of the Secret Service’s crypto strategy is Kali Smith, who directs a team that has trained officials in over 60 countries to unmask online financial crimes.
The agency has focused on jurisdictions with weak oversight or programs selling residency to foreign nationals. “Sometimes after just a week-long training, they can be like, ‘Wow, we didn’t even realize that this is occurring in our country,’” Smith said.
The Secret Service’s work has uncovered scams ranging from romance-investment schemes to sextortion cases. One investigation involved an Idaho teenager who sent a nude photo to an online stranger. The scammer extorted $300 twice before the teen went to the police.
Analysts traced the payments through another coerced teenager acting as a money mule, leading to an account tied to nearly $4.1 million in transactions under a Nigerian passport.
British police arrested the suspected extortionist when he arrived in Guildford, England, where he remains in custody pending extradition.
E-Financial
Ascensia Finance Commences Operations in Abuja

Ascensia Finance Company has officially commenced operations to provide financial intermediation services in Abuja.
Licensed by the Central Bank of Nigeria (CBN) in April, the financial institution aims to support individuals and small businesses through customised financial solutions delivered via efficient and accessible channels.
It offers a broad range of services, including loans, investment products, and financial advisory services tailored to meet the evolving needs of its customers.
In a statement, Mr. Jude Ezeami, Managing Director/Chief Executive, Ascensia, stated that proud member of the Finance House Association of Nigeria (FHAN), and in partnership with the Nigeria Interbank Settlement System Plc (NIBSS) and Remita, the company is leveraging strong institutional relationships and digital infrastructure to offer reliable financial services.
He said, “At Ascensia, we are committed to the growth of our clients by delivering inclusive, customer-centric financial services that empower individuals and small businesses to thrive.
“Our suite of products is designed to address the financing needs of Nigerians — whether through accessible personal loans, business financing, or innovative investment solutions.”
He said with the company’s strong foundation, experienced leadership, and a deep understanding of the local market, Ascensia remained poised to become a key player in Nigeria’s financial services industry.
The company is driven by a team of seasoned professionals with extensive experience in Nigeria’s resilient financial services sector.
Anchored on the core values of Trust, Resilience, Integrity, Creativity, and Empathy (TRICE), the company introduced a suite of innovative financial products.
These include personal loans of up to N5 million for self-employed professionals, with a repayment tenor of up to 12 months.
The company also provides SME loans of up to N10 million, specifically designed to support shop owners and small business operators engaged in trade of fast-moving consumer goods, with financing available for inventory and working capital needs.
The Ascensia PayEasy, a “Buy Now, Pay Later” solution, enables individuals and companies to acquire consumer goods or assets with a minimum 30 per cent deposit, and repay the balance over a six-month period.
For salaried employees in both the public and private sectors, the company offers PayDay Loans of up to ₦5 million, repayable over 12 months.
Through its Contract Finance offering, Ascensia supports vendors, suppliers, and contractors working with credible companies, NGOs, and public-sector agencies.
The product facilitates timely order fulfilment and improves liquidity by providing early access to funds through invoice discounting on confirmed invoices from approved counterparties.
The company also offers group loans for traders, artisans, farmers, and producers of fast-moving goods.
These loans are structured around group-based cross-guarantees, making financing accessible to individuals with strong cash flows but limited collateral. Eligible borrowers can access up to N3 million, repayable within 180 days.
E-Financial
Union Bank Champions Civil Service Reform at International Conference

Union Bank, one of Nigeria’s most enduring financial institutions, made a resounding statement of support for governance reform by partnering with the first-ever International Civil Service Conference, held on June 25–26, 2025, at Eagle Square Arena, Abuja.
With the theme “Rejuvenate, Innovate & Accelerate,” the conference brought together civil servants, development partners, and senior government officials—including President Bola Ahmed Tinubu—to strategize on the digital transformation and renewal of Nigeria’s public service.
Hosted by the Office of the Head of Civil Service of the Federation in collaboration with the Global Government Forum UK, the event focused on modernizing governance through inclusive leadership, adaptive institutions, and seamless service delivery—values that resonate with Union Bank’s digital-first approach.
Speaking at the event, Mannir Ringim, Executive Director for North and Public Sector, emphasized the Bank’s dedication to national development:
“At Union Bank, we believe in the transformative power of public-private partnerships. Our support for this landmark conference underscores our commitment to modernizing Nigeria’s civil service through innovative financial solutions that foster transparency and efficiency.”
Union Bank’s presence at this pioneering event not only underscores its forward-thinking ethos but also positions the Bank as a catalyst for progress at the intersection of finance and public administration.
- Telecom2 days ago
Y’ello Care’s 21-Day Campaign Bridges Digital Divide for Thousands Nationwide
- General News2 days ago
Enugu Air Commences Operations Today
- E-Business2 days ago
Galaxy Backbone, Rural Electrification Agency Commit to Deepening Digital and Energy Access Across Nigeria
- Broadcasting2 days ago
NDPC Slaps Multichoice with ₦766M Fine for Data Privacy Violations
- News2 days ago
Lagos-Calabar Highway Gets $100M Push from ECOWAS to Drive Regional Growth
- Telecom2 days ago
20 Years of Digital Leadership: Layer3’s Legacy and the Road Ahead
- News2 days ago
NBS May Release Rebased Figures for Nigerian Economy July 11
- Telecom23 hours ago
NCC Wins Global ICT Award for Digital Awareness in Schools