Banking
Interswitch Introduces Advanced Biometrics Features on POS, ATMs
By Aduragbemi Omiyale
In keeping with the times and in a bid to reduce fraud and avail customers of more reliable digital payment and transaction solutions, Interswitch is set to launch a new product that integrates biometrics on Point-of-Sale (PoS) terminals and Automated Teller Machines (ATMs) across multiple acquirers and merchants.
While this solution exists in silos in the Nigeria market, the Interswitch effort, birthed in collaboration with SterlingPRO, which serves as the strategic partner, will be the first and only effort yet to integrate the biometrics solution across ATMs and PoS portals, cutting across multiple issuers, acquirers, and merchants.
One thing worthy of note is that biometrics does not only guarantee an increased level of safety but is also easy to use and saves a lot of time. The biometrics feature also removes the worry of forgetting one’s password or the bother of having to change it regularly.
It is no longer news that fraudsters have continued to devise newer, more intricate schemes and tactics in a bid to obtain private data, such as passwords and Personal Identification Numbers (PINs) and defraud their unsuspecting victims. Sadly, many innocent individuals have fallen victim to these fraudsters even as the trend continues to worsen by the day.
In view of the growing electronic fraud across the world, discerning customers are looking for a more secure and efficient alternative to protect their funds and assets as an improvement on the level of security provided by passwords and PINs.
Technology experts believe that biometrics authentication is the solution to curbing fraud because of its more advanced security and safety levels.
“Biometrics is changing the payment landscape and will shape the future of digital identification. Therefore, we are set to introduce the biometrics feature on PoS & ATMs to the market.
“We are excited about the introduction of this solution because we are confident that on successful activation of the solution across the market, Nigerian cardholders can easily transact without the fear of their accounts being compromised,” the Managing Director, Payment Processing & Switching (Interswitch Purepay), Mr Akeem Lawal, stated.
He assured that the firm will continue to design products leveraging cutting-edge technology that will constantly enhance payment security as it unlocks new frontiers and sets the pace for the rest of the African tech ecosystem.
Biometrics promises to further help drive the growth of the economy. According to Statista, the global digital identity solution market that biometrics is part of is expected to grow from $23.3 billion in 2020 to $49.5 billion in 2026.
In addition to the biometrics solution, Interswitch will be expanding the card personalization and instant issuance offering across the Nigerian payment ecosystem, a solution that is a win-win for both financial institutions and customers.
The customers get to personalize their cards with instant access, the banks /issuers can enhance their customer experience by reducing their wait time, managing their card portfolio more efficiently and enhancing the security of the cards through the shortened issuance process.
However, while the technology company is making a marked effort to ensure our data, information and funds are secure, it is also important that cardholders are conscious of the existence of these fraudsters and continue to take precautionary measures to avoid vulnerability.
Banking
Standard Bank Hosts 2nd African Markets Conference
By Modupe Gbadeyanka
The second African Markets Conference (AMC) will take place in Cape Town, South Africa, from Sunday, February to Tuesday, February 24, 2026.
The event, hosted by Standard Bank, will bring together global institutional investors, sovereign wealth funds, and African policymakers to catalyse the flow of capital into the continent’s most critical sectors.
The theme for this year’s edition is Mobilising Global Capital at Scale for Africa’s Growth and Development.
AMC 2026 will host a high-level delegation of decision-makers, ensuring that the dialogue leads to tangible commitments.
The conference will be structured around five high-impact pillars designed to move the needle on investment, including prioritising infrastructure as an asset class, accelerating the energy transition, deepening African capital markets and mobilising private capital, enabling intra-African trade and flows of capital, and addressing Africa’s sovereign debt and cost sustainability.
It is estimated that by 2050, Africa will add one billion people, more than half in cities, yet it invests only $75 billion of the $150 billion it needs annually for infrastructure. Standard Bank aims to use AMC 2026 to ensure that African priorities remain at the centre of the global financial discourse.
“This year’s engagement bridges the gap between policy ambitions and market realities. Africa urgently needs practical measures to deepen capital pools, improve market liquidity, and strengthen regulatory frameworks that give investors the confidence to deploy capital at scale.
“Mobilising capital is not just about funding projects; it is about building the foundation of a more balanced and inclusive global economy,” the chief executive of Corporate and Investment Banking at Standard Bank Group, Luvuyo Masinda, stated.
Banking
Fidelity Bank Shows Love to Ikoyi Correctional Centre Inmates
By Aduragbemi Omiyale
Inmates at the Ikoyi Correctional Centre in Lagos were recently full of joy when Fidelity Bank Plc donated some relief items to them.
The financial institution, through its Corporate Social Responsibility (CSR) initiative known as Fidelity Helping Hands Programme (FHHP), handed over various household tools and gift items to the leadership of the correctional facility as part of its efforts to support the rehabilitation and development of indigent persons in society.
The Chief Human Resources Officer of Fidelity Bank, Mr Charles Nwachukwu, reaffirmed the bank’s deep commitment to transforming lives and restoring hope, emphasising that true progress lies not only in financial growth but in extending compassion and opportunity to those that society often overlooks.
“At Fidelity Bank, we believe that every individual deserves a second chance. Our approach to Corporate Social Responsibility is rooted in empathy, standing with communities, uplifting the vulnerable, and opening doors for brighter futures.
“By supporting inmates today, we are setting them on the true path of rehabilitation, empowering them to return tomorrow as productive and confident members of society,” the banker said.
The Deputy Controller of Corrections at Ikoyi Custodial Centre, Mr Julius Ogueri, who could not hide his excitement over the gesture, appealed to Nigerians to avoid cybercrimes and stigmatisation of ex-inmates.
Highlighting the challenges faced by correctional facilities in Nigeria, Mr Ogueri noted that Ikoyi correctional center initially designed for 800 inmates, now houses over 3,000 inmates, with 396 convicted persons and 3,604 awaiting trial.
Whilst thanking the bank, the Deputy Controller also emphasised the importance of rehabilitation, citing examples of inmates who have pursued education and skills acquisition, including 72 inmates studying with the National Open University of Nigeria and 120 inmates who have benefited from WAEC and GCE support.
Business Post reports that through the FHHP, staff across Fidelity Bank branches nationwide identify crucial interventions needed in their immediate community and raise funds to execute them. The bank’s management then matches this contribution with an equal amount and disburses it for the selected project.
The visit to the Ikoyi Correctional Centre reinforces the lender’s unwavering commitment to meaningful community impact and demonstrates its strong dedication to advancing social responsibility and rehabilitation efforts across the society.
Banking
Ecobank Nigeria Introduces Business App for SMEs to Accelerate Growth
By Dipo Olowookere
A new digital banking platform created to help business owners in the country to eliminate delays, queues, and operational inefficiencies has been introduced by Ecobank Nigeria.
This mobile application is to strengthen the growth and sustainability of Small and Medium Enterprises (SMEs) across Nigeria, allowing them to manage payments, monitor transactions, oversee cash flow, and run day‑to‑day financial operations directly from their mobile devices.
The Ecobank Business app, now available on the Google Play Store and Apple App Store, cements the bank’s position as a dependable growth partner to SMEs across all sectors, delivering tools that help businesses manage better, grow faster, and operate more competitively in a digital economy. – Ecobank Business — Your Growth Partner.
The introduction of this initiative further reinforces Ecobank’s broader commitment to empowering SMEs through digital innovation, sector‑specific value propositions, and financial solutions like structured loans, trade support, guarantees, and equipment financing.
It also aligns with the lender’s push to re-energise dormant SME accounts, deepen market penetration, promote digital adoption, and scale value‑chain financing through partnerships with corporate anchors.
According to the Executive Director for Consumer and Commercial Bank at Ecobank Nigeria, Mr Kola Adeleke, the Ecobank Business App was developed to address the unique challenges faced by Nigeria’s diverse SME landscape.
Speaking at the unveiling in Lagos, he explained that the platform caters to traders, retailers, tech start-ups, online businesses, hospitality operators, farmers, agro‑processors, manufacturers, construction firms, professionals, social commerce entrepreneurs, schools, associations, and organisations that require transparent and efficient financial management.
Mr Adeleke noted that the app delivers faster payment collection for merchants and retailers, seamless digital transactions for online businesses, efficient vendor and staff management for hospitality players, timely payment solutions for agriculture value chains, and secure handling of bulk and high‑value transactions for manufacturers and construction firms.
He added that professionals such as lawyers and consultants can issue invoices and receive payments easily, while schools and associations can streamline fees, dues, and reporting from a single platform.
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