Stanbic IBTC Holdings Plc has reiterated its commitment to promote and invest in disruptive innovative financial technologies that foster sustainable economic growth and financial inclusion in Nigeria.
The bank restated the commitment at the 5th annual Nigerian Fintech Week Conference where stakeholders from the financial ecosystem dialogue on the theme: “Sustainability and Ecosystem Building”.
The theme focused on leveraging partnerships between traditional financial service providers and the fintech industry; to bridge the existing gap and promote financial inclusion in Nigeria.
The Bank said it believed that digital innovation is a key driver to the nation’s economic growth, and that purpose served as one of its rationales for leveraging digital innovative banking products and solutions that resolve and fulfill Nigerian banking challenges and needs.
In his keynote address on the topic: ‘Emerging Technology and Future of Digital Finance’, Wole Adeniyi, Chief Executive, Stanbic IBTC Bank PLC stated that financial technology has significantly disrupted the world’s financial ecosystem, and driven growth and competitiveness in the payment sector.
He added that the economic growth has enabled financial systems to become more customer-centric and given them the platform to compete globally.
Wole said “The Nigerian Fintech industry is constantly evolving Nigeria’s business ecosystem as financial transactions are increasingly becoming digital and contactless. Digital innovations have long impacted the Nigerian financial sector and have become a driving force of economic growth for a while now, that brought in the emergence of banking technologies such as ATMs, practical applications of asset pricing models, credit-scoring and other consumer lending technologies.