Tag: Mobile App

Access Bank’s mobile app fails to deliver emergency services

Regrettably, a father experienced the unfortunate loss of his daughter, which he attributes to a purported malfunction of Access Bank’s mobile app.

The occurrence has generated solid public anger and prompted inquiries regarding the dependability of banking technology during crucial circumstances.

Read also: Standard Bank Invests $11M in South African Fintech, Float

The Mental Cost of Digital Banking

Unable to transfer payments using the Access Bank mobile app, the grieving father said, contributed to his daughter’s death. Medical attention was provided to the child at a local hospital. She was neglected while her parents struggled financially due to the app’s malfunction.

The father, who identified himself as a single parent employed offshore, detailed his terrifying ordeal, saying, “He lost his 9-year-old daughter in a medical emergency due to Access Bank’s @myaccessbank app not working since yesterday.” Many who have had similar issues with the bank’s app reliability shared their sorrow and despair.

Another user on x,@HommieDrey, commented, “ That’s what happens when a nation’s Framework is so bad that they can’t retain their technical experts because they don’t pay them well or value their services enough that they have to leave for other countries and the entire tech infrastructure collapses.

In the coming years, it will be worse.

The problem is not just Access Bank; it’s everything that makes Nigeria the Nigeria it is

@Uyotistic_Uyota, a user on the user, stated, “Oh no! Because he was at work with the failing app, the medical personnel refused to perform the surgery. The doctors, too, share ample blame for refusing the surgery. No empathy. Why couldn’t they perform and hold onto the patient afterwards till they got their money?

On the bank app, that’s why online banks are so much better. May her gentle soul rest in peace.

Digital banking mistakes: learn and change

Mobile banking apps’ reliability and security, especially in emergencies, have been raised again by the event. Technology has revolutionised banking, yet examples like this show the risks of digital banking failures.

In a statement, Access Bank said it would thoroughly investigate the incident and offered its condolences to the family. They stressed the stability and security of their mobile banking technology but said there was potential for improvement.

Read also: OPay’s valuation nears $3 billion as Nigeria’s digital payments surges

After the event, some customers said they were sceptical and annoyed about how much the banking system relied on technology. For digital banking, many people want better backup plans.

This terrible case shows how technology can significantly affect people’s lives in life-threatening situations. Today’s digital innovations have made banking more accessible and faster, but they also bring serious risks that must be balanced out.

After losing his daughter, He hopes his story will encourage banks and authorities to rethink digital banking and prioritise reliability and accessibility, especially in life-threatening situations.

May 7, 2024
MetaMask, Blockaid unveils fraud preventions technology

The self-custody web3 platform Consensys‘ MetaMask, along with primary web3 security provider Blockaid, have released privacy-preserving security alerts within the extension.

MetaMask is the first self-custody web3 wallet with security alerts that prevent phony transactions, fraud, phishing, and hacks and safeguard privacy. MetaMask and Blockaid claim these global privacy-protecting security alerts will prevent billions of dollars in asset theft.

On October 31, 2023, desktop users can join the MetaMask experiment before the full launch. MetaMask’s mobile app will incorporate it around the end of November. By the first quarter of 2024, all MetaMask users should be able to use this new function, which is straightforward to add and enabled by default.

Read also: First-class MetaMask Snap customisation for Nigerians

First wallet to protect privacy and improve security

Most web3 wallets transfer transaction data to a third party for accuracy checks and security alerts. To protect privacy, MetaMask and Blockaid created a transaction-like feature that doesn’t share transaction and signature requests.

“With these built-in alerts, MetaMask is making users safer and setting a new standard for web3 privacy-preserving security.” For Web3, privacy shouldn’t be compromised for usability. Instead, it should aid room improvement. Dan Finlay, MetaMask Co-Founder and Consensys Chief Ethos Officer, said, “As we come up with new ideas, we remain committed to giving users the power and tools they need to navigate web3 confidently.”

Blockaid has stopped theft before. Blockaid’s proactive scanning prevented over $100,000 in digital asset theft from Vitalik Buterin’s X (formerly Twitter) account, which was hijacked to promote a malicious app. A similar scam targeted Uniswap’s CEO’s X account, but Blockaid averted damages. Averted losses accumulate due to frequent attacks.

Protecting billions of dollars and revolutionizing user safety

Web3 creates 3-4 apps every minute, or 5,000 daily. Blockaid considers 10% of apps dangerous. Unintended transactions generate most MetaMask fund losses.

Consumers are protected from fraud, phishing, and hacking by security alerts. A Consensys web3 poll found that 52% of Nigerians cited “too many scams” as a barrier to entering the crypto ecosystem, underlining the need for user safety to enhance adoption.

MetaMask and Blockaid offered experimental opt-in Opensea security alerts in April 2023. In April 2023, 4% of MetaMask users blocked and identified criminal transactions, avoiding $500 million in asset theft.

After this experimental opt-in feature succeeds, MetaMask and Blockaid expect the new privacy-preserving security alerts to avert the loss of at least billions of dollars when MetaMask wallets default.

Our ecosystem must be safer to support billions of users. We’re pleased to team up with MetaMask to define wallet user protection. We are standardising web3 security for consumers and builders.”

To prepare for the following billion people to utilise Web3, we need to build features that are easy to use and accessible while staying loyal to Web3’s fundamental values.

This is why we’re working hard to create security warnings that respect privacy and don’t share transaction and signature request information with third parties. “Blockaid’s app transaction validation solution protects users from bad transactions without letting hackers in,” said MetaMask Senior Product Owner Barbara Schorchit.

Advanced users received MetaMask Snaps in September. A group called “Transaction Insights.” The new privacy-protecting security alerts will be included in MetaMask, but users worldwide can add their security layers by installing transaction insights through MetaMask Snaps. The new security alerts supplement Transaction Insights Snaps. This adds safety levels.

Education is vital

Blockaid’s relationship with MetaMask will improve security, but education is still essential for safe and self-managed web3 ecosystem use.

MetaMask Learn, a learning simulation software, was launched in January 2023 to help users navigate web3 and self-custody wallets. Visual learning and action-oriented assessment are perfectly integrated in this platform to help you comprehend web3 principles. The new Security module teaches users how to spot harmful activities and protect their assets.

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About MetaMask

The world’s leading self-custody web3 platform, MetaMask, has 19 million monthly active users. MetaMask, developed by Consensys, is the most popular and trustworthy means to mint and collect NFTs, join DAOs, play games, and engage in DeFi protocols.

About ConsenSys

They were leading blockchain and web3 software business Consensys. Since 2014, Consensys has led web3 ecosystem innovation. We are the trusted collaborator for users, creators, and developers building and belonging in the world they want through MetaMask, Infura, Linea, Diligence, and NFT.

An inclination to construct a dapp, NFT collection, portfolio, or better future is ubiquitous. By making web3 easy to use and develop, Consensys encourages everyone to build. MetaMask included privacy-preserving security notifications to prevent billions of thefts.

About Blockaid

Blockaid dominates web3 security. In 2022, alums of Israel’s elite Unit 8200 cyber intelligence unit founded Blockaid, which has become the benchmark in blockchain protection. To protect integrated wallets and dApps like MetaMask, OpenSea, Zerion, and Rainbow from fraud, phishing, and attacks, its revolutionary solutions simulate transactions before execution.

Blockaid helps users trust Wallets, dApps, and smart contracts by beforehand validating all transactions. The New York and Tel Aviv-based company has raised $33 million from renowned cybersecurity, fintech, and web3 venture capital companies Ribbit, Variant, Cyberstarts, Sequoia, and Greylock. As the most trusted web3 security brand, Blockaid has grown its partner network.

November 6, 2023
Leatherback’s app simplifies African cross-border payments

Imagine the convenience of sending money internationally as quickly as texting! Say goodbye to paperwork, expensive fees, and long waits for funds! It sounds wonderfully dreamlike.

Leatherback, an innovative IT company, makes cross-border payments a breeze for Africans worldwide!

Leatherback’s new mobile app opens exciting possibilities for students, medical migrants, remote workers, freelancers, parents, and business owners.

Since 2019, Leatherback has offered remittance and multi-currency solutions to let Africans send and receive money swiftly and efficiently. Entrepreneur and co-founder Toyeeb Ibrahim imagined a world where money could migrate freely like the Leatherback turtle.

The Leatherback is the most giant and most mobile marine turtle. Several countries have it. Turtles cross the Atlantic and Pacific Oceans and visit Alaska, Norway, New Zealand, South America, and South Africa. It spans countries and can withstand significant temperature variations.

Money moves slower than that turtle. Location, exchange rates, finding trustworthy financial partners, significant transaction costs, and more prevent people from living their dreams. The solution was Leatherback.

Like that turtle, Leatherback Finance is powerful and borderless. Its mission is to provide services that enable globalization and financial independence for all.

The company worked hard to create a mobile app that lets anyone send and receive money in any currency immediately because they realize international payments are complex. Student fees, migrants, remote employees, and freelancers can be paid in any currency via the Leatherback smartphone app.

Read also: Visa facilitates contactless payments in Kenya, collaborates with fintechs

The Leatherback smartphone app features

The user-focused mobile app has a modern, straightforward, and easy-to-navigate interface. Users can sign up in two minutes without paperwork or hassle. Notably, the Leatherback mobile app provides many features that simplify and secure cash transfers. Key app features are:

SendR: A remittance solution that lets people transfer money in their native currency and get it instantaneously in NGN, ZAR, TZS, CFA, XAF, XOF, GHS, GBP, USD, and more.

Multi-currency account: Individuals can own a multi-currency account to process transactions quickly and deposit and withdraw funds in various currencies. The exchange rate for sub-account transfers and currency conversions is sometimes better than standard currency conversion expenses.

Daily rates and negotiation: Individuals in the diaspora can access daily rates for each currency and negotiate the rates that suit them. Leatherback considers their offers and assures they work.

Instant transfers: Leatherback provides beneficiaries fast financial transfers with modern technology and strategic banking partnerships.

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Major regulators let Leatherback deploy its African mobile app

Significant regulated organizations authorize Leatherback to make its mobile app available in Nigeria, Ghana, Cameroon, Tanzania, and other African nations as part of its cross-border payments promise.

This inclusivity supports the company’s goal of removing financial transaction obstacles worldwide. Toyeeb Ibrahim, Leatherback CEO, was excited about the app’s launch, saying,

“We are proud to launch our mobile app to empower the African diaspora with cross-border payment solutions. We enjoy using 15+ currencies and transacting in 21 countries without visiting a bank.

The mobile app is a big step towards a more connected world with fewer financial barriers, and people can meet, help each other, and do well across borders. In addition to focusing on efficient transfer services, Leatherback plans to add more financial solutions. This will show that it is even more committed to giving people the fastest way to send money across borders.

Download the Leatherback app from the Play Store or the App Store to start. You can find out more at www.leatherback.co.

September 22, 2023
‘FairMoney’ updates its mobile app with new features

FairMoney, a digital bank in Nigeria that also offers instant loans, recently announced the release of an updated version of the homepage of its mobile app.

The update is designed to offer customers an enhanced banking experience that is easier to navigate and more convenient. Users will have an easier time navigating the app thanks to the recent update, which includes various useful features and a completely redesigned home page User experience.

Money transfers, account funding, ATM card requests, and bill payments are now all as easy as tapping a button. In addition, users may see their total savings, loans, and account balances in one convenient location by clicking the “My Accounts” button in the header.

While remarking on the FairMoney app update, Head of Marketing and Branding, FairMoney, Nengi Akinola, said, “Our updated mobile banking app is a reflection of our dedication to offer and ensure improved and smooth banking to our consumers. We’ve made it our mission to simplify and streamline the banking experience for our customers while simultaneously increasing the service’s value.

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“The New features and improvements have made the updated FairMoney app a major step forward for digital banking by providing customers with more options and more control over their money. We are thrilled to release this updated app and to keep pushing the boundaries of digital banking in the years to come.”

New features rolled out with the update

The app’s homepage has been updated to put its most essential features front and center. Streamlined actions hitherto requiring many clicks may now be completed with a single touch on the home page, such as making a payment, requesting an ATM card, or transferring funds. Account balances, outstanding loan amounts, and savings may all be shown at a glance under the main banner for ease of use.

Both FairSave and FairLock can now be easily accessible from the bottom right of the screen, while the loan site has been streamlined to provide relevant information about active loans and provide choices to extend or top up existing loans. One of the new features of the FairMoney app is an alert bar that displays current promotions and serves as a constant reminder of the service’s many enticing price reductions.

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About FairMoney

With over 10 million downloads, FairMoney has become the most popular financial technology app in Nigeria and is also the leading digital lender in the country. FairMoney long-term goal is to dominate the industry as the go-to financial institution for underserved customers in large developing regions. The company’s mobile app provides direct access to various digital financial services, such as almost instantaneous digital loans, investment products, savings, payments, and cards.

More than 10 million people in Nigeria have downloaded FairMoney, making it the most popular financial technology app in the country. Our long-term goal is to dominate developing economies as the go-to financial services provider for the unbanked masses. Financial services such as instantaneous digital loans, investment options, savings accounts, payment processing, and prepaid cards are only some of the digital services made available by this firm via its mobile app.

March 8, 2023
How Mobile Apps are changing African finance sector
AppsFlyer and Google have released a new study on how mobile applications are changing the finance sector in Africa.

Africans are increasingly using apps and technology to manage their money, deal with economic volatility, and work towards financial freedom, according to data.

The study examined more than 140 million installs across 3,000 banking apps and discovered a 25% increase in installs throughout the region.

The largest contributors to this growth in finance app installs were Ghana, Nigeria, Kenya, and South Africa, with the former heavily bolstering this by a staggering 200%, followed by Nigeria, which experienced an increase of 33%. South Africa saw a fall of 11%, while Kenya experienced an increase of 5%.

Read also: The Remarkable Growth of Nigeria’s ICT Sector

Financial Africa’s Google search growth

Google search trends between May 2021 and May 2022 showed that lending and currency conversions dominated finance-related interest, indicating how insecure most people on the continent’s economic condition have become, especially post-pandemic.

South Africa dominated “grant status” and “loan application searches” with 700% and 51% search intent increases, respectively. They lead “payment date” searches with 700% more intent. South Africans also increased their search intent for “euros to rands conversion rates” by 74%.

Nigeria had the most “loan app” searches, up 68%. Most Kenyans looked for “currency conversion,” with “USD to KSH” queries up 52%.

Mobile marketing is expanding in the finance sector

Mobile marketing is becoming more significant as mobile apps do. Only three out of every ten downloads of banking apps in Nigeria were organic, while sponsored marketing accounted for 72% of installs.

This indicates that for a brand to succeed, word of mouth cannot be relied upon. Finance app marketers must emphasize mobile marketing and have a solid plan in place to engage with customers more effectively if they want to expand their user base, boost revenue, and differentiate themselves from the competition.

Mobile marketers should focus on three areas this year to succeed:
- Analyzing your data Brands must measure client lifecycles and KPIs. Monitoring data improves marketing budgets, ROI evaluation, and decision-making.
- Creative strategy and client preferences.
- AppsFlyer appreciates privacy.
  With rising mobile device availability and internet prevalence, marketing, especially via mobile, is becoming more sophisticated, requiring various platforms, including web, email, sms, etc. This makes AppsFlyer’s mobile advertising and attribution methodology one of the finest ways to evaluate user reach reliably.
eCommerce app marketers spent $6.1 billion on user acquisition

About AppsFlyer

Appsflyer is a holistic solution for modern marketing. As digital app adoption grows globally, brands have to contend with a new frontier of products and marketing. AppsFlyer connects data across platforms so companies can accurately monitor traffic and have accurate attribution across all platforms. AppsFlyer provides tools to brands to accurately measure if their campaign strategies are working, support the optimization of these strategies, and also provide deep linking and segmentation tools to build customer retention.
With over 12,000 customers across the globe, AppsFlyer has partnered with companies like Nike, Tinder, Kuda and Wema in the African Fintech space, and they’ve helped a host of companies globally measure their brand engagement and improve customer retention.
January 19, 2023
Flutterwave and Tobi Amusan Launch $end Mobile App for Easy Funds Transfer
Flutterwave, the region’s top payments technology business, released $endmobile, an app that enables quicker and simpler money transfers from the diaspora to the African continent.

According to a release, Tobi Amusan, the Nigerian who holds the women’s 100-meter hurdles world record, was also signed by Flutterwave as Endmobile’s ambassador. The firm claims this was done because of their comparable speeds and tenacity.

The Send Mobile app, which is available on both the Play Store and the App Store, aims to improve the customer experience by making it faster, more transparent, and able to get the user’s money to its destination despite any problems.

Other features include Apple Pay, which will let people with Apple devices do transactions easily from their mobile wallets, an improved activity section that tracks transactions in real time, and a new voucher code section that lets users make voucher cards.

Tobi Amusan, who holds the world record for the 100-meter hurdles, said that she is thrilled to be the face of the product, which she claimed that she already uses.

“Even though I spend a lot of time away from home, I try to see as many of my relatives as I can in Nigeria”. By allowing me to cater to as many of their requirements as I can, $end has made it easier for me to maintain contact with them. “I’m happy to be this product’s face for the African diaspora,” she said.

Read also: Flutterwave obtains switching and processing licenses in Nigeria

Why did Flutterwave choose Tobi Amusan?

Olugbenga “GB” Agboola, Founder and Chief Executive Officer of Flutterwave, said, “It’s exciting that Tobi is $end’s Ambassador”. Given her speed and efficiency on the track and $endmobile’s quickness in providing cross-border transfers, I’d say it’s a fantastic fit.

Transferring money from the diaspora to Africa for things like tuition, property, healthcare, maintenance, and investments will be much quicker and more convenient with Send Mobile. We’re thrilled about the prospects of working together.

The statement also recommended users download the Send Mobile app for their iOS or Android smartphone from the App Store or Google Play.

In September, the Switching and Processing License was given to Flutterwave by the Central Bank of Nigeria (CBN). With this important license, the business can give customers payment cards directly and handle financial transactions for other fintech companies and financial institutions.

In Kenya, the Asset Recovery Agency (ARA) said that the company used stolen cards and laundered money. Flutterwave disputed the charges that led a Kenyan court to freeze its accounts.

Flutterwave Adds eNaira as a Payment Option for Merchants

How to start sending money with the Send Mobile App:
- Create an account with Send (Android or iOS) by adding your email address, phone number, and password. If the Send Mobile app is already loaded on your phone
- Access the Send Mobile App.
- Select “Send Now” from the menu.
- Enter the information for your money transfer, including the amount, sending and receiving currencies, and countries.
- Go through the transaction and transfer the funds.
November 26, 2022