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CALOOCAN CITY, Jan. 22 (PIA) -- In partnership with the Philippine Statistics Authority (PSA), state-run Land Bank of the Philippines (LandBank) continues to support the National Government’s agenda of financial inclusion by providing registrants of the Philippine Identification System (PhilSys) with their own transaction accounts. LandBank will be co-locating with the PSA in registration centers for the second step of the PhilSys registration, to allow registrants to open new transaction accounts and gain formal access to basic banking and other financial services. After the roll out of t...

Daily Monitor Friday January 15 2021 Close to Shs66.6b, which is transacted through Fintechs on a daily basis, is now locked up due to a shutdown of the Internet. PHOTO | FILE Summary Advertisement Financial Technology companies also known as Fintechs have said they expect to lose at least Shs66.6b on a daily basis after government shut down the Internet on Wednesday.  The loss is expected to affect a wide range of Fintech operations, many of which support financial transactions, spreading to banks, telecoms (mobile money) and insurance companies.  Finetech provide an enabling system for fi...

More than 300 million transactions, which are estimated to be worth Shs666b, are conducted through the Fintechs system on a daily basis

It was reported that people have alleged this was due to banks conspiracy with CBN. The director also described as “preposterous” insinuations that the apex bank conspired with commercial banks to ensure there was no money in the machines. “It is highly preposterous for anyone to say that CBN connived with banks to deprive people of their money this season. “The primary purpose, for which ATMs were introduced, is to ease the sufferings of Nigerians and to make banking easier and convenient. “I assure the public that CBN will investigate the matter,’’ he said. Meanwhile, a check ...

ATM The Central Bank of Nigeria (CBN) says it will investigate the scarcity of funds witnessed by customers in most Automated Teller Machines (ATMs) in Lagos State. The CBN‘s Acting Director, Corporate Communications, Mr Osita Nwanisobi told the News Agency of Nigeria (NAN), on Wednesday, that ATMs were introduced so as to ease the sufferings of the people. Nwanisobi spoke on the heels of customers complaining that the proliferation of Agent Banking is responsible for ATMs not having money to dispense any more. x NAN reports that people have alleged this ...