Transcribed
Fidelity Bank Reinstates Neobanks
Nov 1, 2023 ·
1m 30s
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Fidelity Bank Reinstates Neobanks
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Description
Nigerian commercial bank, Fidelity Bank, has quashed its qualms with neobanks and reinstated customer transfers to OPay, Moniepoint, Palmpay and Kuda. Fidelity claimed that the removal was due to ongoing...
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Nigerian commercial bank, Fidelity Bank, has quashed its qualms with neobanks and reinstated customer transfers to OPay, Moniepoint, Palmpay and Kuda.
Fidelity claimed that the removal was due to ongoing upgrades, other sources stated that it was due to KYC violations from the neobanks.
Neobanks saysthat they had been in contact with the commercial bank to resolve all concerns. The reinstatement however was also due to one regulator, the Nigeria Interbank Settlement System, expressing displeasure at Fidelity’s move.
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Fidelity claimed that the removal was due to ongoing upgrades, other sources stated that it was due to KYC violations from the neobanks.
Neobanks saysthat they had been in contact with the commercial bank to resolve all concerns. The reinstatement however was also due to one regulator, the Nigeria Interbank Settlement System, expressing displeasure at Fidelity’s move.
Information
| Author | Africa Business Radio |
| Organization | Africa Business Radio |
| Website | - |
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