A commercial bank that partners with Finnova to provide banking infrastructure and ensure compliance.
Providus Bank gets approval to absorb ailing Unity Bank
Providus Bank has received court approval for the acquisition of Unity Bank Plc. Unity Bank recorded ₦203 billion in impaired loans at the end of the 2023 financial year.
You can now bank on WhatsApp with this startup
Nigeria has 51 million active WhatsApp users, making it the 10th largest user base globally. Finnova allows users to access banking services directly through WhatsApp, including sending money and paying bills.
₦203 billion bad loans: Unity Bank’s crisis deepened amid Providus merger, job cuts
Unity Bank reported ₦203 billion in impaired loans for 2023. The bank laid off 27 employees, including 4 senior management staff.
NIBSS bets on QR codes as a cash alternative for small-value payments
NIBSS has improved the speed of QR code payments by eliminating separate fee queries and enhancing security. NIBSS partnered with the Lagos State government to test QR code bill payments, achieving 750,000 transactions in the first week.
Allawee credit card launch in partnership with Mastercard, in line with Credicorp 2030 mandate
Allawee launched a credit card for Nigerians in partnership with Providus Bank, Mastercard, and Remita. The card allows users to access 30-90% of their net income in credit, capped at ₦1,000,000 ($605).
