• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, May 9, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

Nigeria urged to create enabling space for Fintech operators

Fintech

The Matters Press by The Matters Press
February 11, 2022
Reading Time: 2 mins read
0
Nigeria urged to create enabling space for Fintech operators

The Managing Director, Stellas Digital Bank, Mr Bukola Solomon, has enjoined the Federal Government to create an enabling environment for Fintech operators to compete favourably in the global space.

RELATED POSTS

With NELFUND’s Disbursement of N53b, Nigerian students have cause to celebrate – TMV

Profit surge among Nigeria’s loss-making companies indication of economic recovery – IMPI

Nigeria will do better than IMF’s 3% growth forecast for 2025, Think Tank predicts

Solomon said this at the launch of the bank’s new App, Ghost Mode, in Lagos on Thursday.

The Ghost Mode allows users to transfer funds to beneficiaries or make payments with their identities concealed.

Solomon stressed the need for government to provide an enabling environment for the fintech industry to enable them come up with technical innovations that could help solve the problems in the financial industry.

He pointed out that the industry would thrive if government provided basic infrastructure that would enable financial technologies expand across the globe.

On the new product, he said, the emergence of the digital bank was a strategic response to many months of industry and market analyses.

According to him, complete digitisation of the bank’s processes means customers on its platform will be able to conduct transactions in real-time and get much-needed support online.

“Beyond the anticipated disruptions, Stellas Digital Bank is set to offer the lowest transaction charges in the industry, with a cost not exceeding N10 per transfer.

The company’s Chief Technology Officer, Mr Anselem Uba, said the Ghost Mode feature was guaranteed to revolutionise customer experience.

Uba said the feature ultimately protected the bank’s customers by encrypting their transactions and isolating them from fraudsters.

According to him, automated deposit, another unique feature, allows users to transfer funds from any bank account into the Stellas app without manually transferring from one bank into the other.

This functionality, he said, saved them the rigours of deploying several Apps in other to perform a transaction, thereby creating convenience, speed and efficiency.

“The budgeting tool is a helpful feature released on the Stellas app, enabling users to plan and allocate funds to monthly expenditure similar to how individuals conventionally make a list of how to disburse monthly income.

“One of the benefits of the Budgeting tool is the ability to compare their actual spending to the budget real-time and periodically, keeping users in check on spending habits.

“The App bouquet also allows users to request loans online, with a pre-set risk management policy to notify applicants on loan eligibility,” Uba said.

Stellas Digital Bank is a wholly indigenous bank established to provide global standard financial services to customers across Nigería.

The bank is licenced by the Central Bank of Nigeria (CBN), and has all its accounts insured by Nigeria Deposit Insurance Corporation (NDIC).

Tags: Fintech
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Nigerians kick against re-opening of schools as COVID-19 bites harder
Economy/Technology

With NELFUND’s Disbursement of N53b, Nigerian students have cause to celebrate – TMV

May 9, 2025
Nissan recalls 1,150,000 vehicles in 3 months
Economy/Technology

Profit surge among Nigeria’s loss-making companies indication of economic recovery – IMPI

May 8, 2025
Economists Challenge IMF on call for further VAT increase in Nigeria
Economy/Technology

Nigeria will do better than IMF’s 3% growth forecast for 2025, Think Tank predicts

May 6, 2025
Egypt’s economic strides excite AfDB
Economy/Technology

AfDB President, Adesina wrong on Nigeria’s GDP at Independence – IMPI

May 5, 2025
Nigerians kick against re-opening of schools as COVID-19 bites harder
Economy/Technology

Nigeria’s scrapping of foreign education Scholarship will curb waste

May 3, 2025
Swiss Bank expects profit of $50bn
Economy/Technology

Nigeria’s $15.2bn Net forex Inflow for Q1 2025, another success story of reforms

April 30, 2025
Next Post
Economists Challenge IMF on call for further VAT increase in Nigeria

Economists Challenge IMF on call for further VAT increase in Nigeria

Nigeria’s food monthly imports dip

CBN extends single-digit interest rates on intervention facilities

Recommended Stories

Edo unveils plans for investment desks

More States fail to attract foreign investments

June 13, 2022
Kenya’s trade deficit narrows by $726m

Kenya’s trade deficit narrows by $726m

October 15, 2023
Deals worth $42bn concluded in African Fair

Deals worth $42bn concluded in African Fair

March 3, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • With NELFUND’s Disbursement of N53b, Nigerian students have cause to celebrate – TMV
  • Profit surge among Nigeria’s loss-making companies indication of economic recovery – IMPI
  • Nigeria will do better than IMF’s 3% growth forecast for 2025, Think Tank predicts

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us