Industry Leaders Harp On Growth At FITC Fintech Conference

FITC recently concluded its highly anticipated TechnNovation FINTECH Conference, themed “Building Trust in the Digital Age: Balancing Performance with Compliance.” This event brought together key stakeholders from the financial sector, including banks, fintech innovators, investors, and regulators, to discuss industry trends, product innovation, regulatory updates, and collaboration opportunities.

Keynote Highlights

Chizor Malize, MD/CEO of FITC and conference convener, emphasized fintech’s transformative impact on the global financial services industry. She highlighted success stories from companies like Interswitch, Flutterwave, and M-Pesa, showcasing Africa’s potential to drive financial inclusion and economic growth through digital innovation. Malize also stressed the importance of maintaining trust and compliance in the digital era, noting FITC’s commitment to providing innovative knowledge solutions and capacity-building programs for the financial sector.

Philip Ikeazor, Deputy Governor of Financial Systems Stability at the Central Bank of Nigeria (CBN) and Board Chairman of FITC, delivered the keynote address. Represented by Taiwo Oladimeji, Deputy Director of the Payments System Management Department at CBN, Ikeazor highlighted the significant growth of Nigeria’s fintech sector. Over the past decade, fintech innovations like mobile payments and blockchain technology have transformed financial transactions in Nigeria, making it a hub for financial inclusion and attracting substantial investments. The CBN has been instrumental in fostering this growth through policies that promote innovation while ensuring financial stability and integrity.

Key Messages

Ikeazor underscored the necessity of continuous dialogue, knowledge sharing, and capacity building to balance performance with compliance. He mentioned the CBN’s e-learning platform, SabiMONI, which aims to enhance financial literacy and deepen financial inclusion by equipping citizens with essential knowledge and tools. This initiative supports the creation of a financially inclusive society and fosters greater trust in the financial system.

In his conclusion, Ikeazor highlighted the CBN’s dedication to developing regulatory frameworks addressing challenges posed by emerging technologies such as AI, blockchain, and digital currencies. The Payments System Vision (PSV) 2025 focuses on driving digital innovations and payments, emphasizing contactless payments, big data, and open banking.

Insights from Industry Leaders

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In her opening address, Adedoyin Odunfa, MD/CEO of Digital Jewels Limited and Chair of the Conference Advisory Board, highlighted the crucial role of fintech in Nigeria’s economic development and financial inclusion. She advocated for a customer-centric approach and diverse teams, emphasizing the importance of balancing innovation with compliance. Odunfa identified key success factors, including committed individuals, robust processes, scalable solutions, and effective collaboration.

Source: leadership.ng

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