Lotus Bank Limited and Development Bank of Nigeria (DBN) have reiterated their commitment towards supporting key stakeholders in driving more resilient payment infrastructure in Nigeria.
Addressing financial journalists in Lagos at one day conference, Lotus Bank stressed that the financial institution has enhanced its capabilities in advancing customer-centric solutions to ensure ease of payment while the DBN said an efficient payment system is key to the country’s growth and development.
The Head of Corporate Services at DBN, Idris Salihu said the bank’s Micro, Small and Medium Enterprises (MSMEs) which has trained over 2000 across Nigeria leverages digital infrastructure as well as physical via the DBN Learning Management System (LMS).
He added that the bank’s support to MSMEs across the nation does not discriminate in terms of ethnic nationalities, but may seem to be concentrated in certain cities probably because of high concentration of commercial activities in such areas.
Similarly, the management of Lotus Bank expressed readiness to join hands with key stakeholders in the banking sector to further enhance the infrastructure for “effective innovative payment system solutions.”The bank in an earlier communication stated: “Our Paperless branches aim to embody the bank’s ethos to create value and growth through digital innovation by offering both self-service and assisted banking solutions, powered by digital technology.“With our paperless branches, you can deposit and withdraw cash, apply for financing and much more with the use of biometrics only.
“In addition to touchscreens and tablets offering information and product guidance to customers, trained universal bankers are present to guide customers and offer personalized assistance with accessing the right digital solutions for their transactions.
It’s not only innovative but also good for the environment too.”Also speaking, Head of Digital Banking at the United Bank for Africa, Mr Olukayode Olubiyi, expressed the need for collaboration among stakeholders, including financial institutions, fintech companies, government entities, and regulatory bodies, which plays a pivotal role in ensuring the success of innovative solutions.According to him, “Ultimately, it comes down to policy, regulation, and collaboration. If parties are willing to collaborate, many of the frictions currently experienced in the Nigeria financial service sector can be mitigated.”
