CIBN, stakeholders collaborate on fintech sensitisation
The Chartered Institute of Bankers of Nigeria, Lagos State branch has said that the financial space has been revolutionalised with the deployment of financial technology by Deposit Money Banks in meeting the financial needs of their teeming customers.
A statement by the Chairman, CIBN Lagos branch, Kola Abdul, who described the threat as socio-conomic, said: “As relevant and transformative as financial technology is to the financial service providers globally, the threat it poses to the traditional banking industry is huge and must not be overlooked.”He said the branch, in collaboration with its parent organisation, was willing to collaborate with relevant stakeholders to embark on sensitisation of banking industry on the real threats posed by Fintech.
The publicity secretary, CIBN Lagos branch, Jide Iyanda, noted that the financial innovation brought by the emergence of Fintech also came with its opportunities and challenges.According to Iyanda, the developments informed the reasons the Lagos branch of the CIBN is organizing 2018 Bankers and Stakeholders Nite with the theme, “Big data, Fintech and the future of banking” holding in July.
Recent reports indicated that investment in the technology in the Sub-Sahara Africa was witnessing growth.This has thrown up the need to carry out study on the real threats the growth portends for the nation’s banking industry and allied service providers.The annual Lagos bankers and stakeholders’ event has become a veritable platform where topical national issues bothering on economy, banking industry and enterprise risk management are being thrashed out by experts in the fields.
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