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Digital disruption changing traditional banking services – Association

Digital disruption changing traditional banking services – Association

The Nigeria Information Technology Reporters Association (NITRA) on Tuesday said digital disruption was changing how traditional banking services, payments and remittances were offered in the digital economy.

The General Secretary, NITRA, Mr Justus Adejumoh in a statement in Lagos said that there was need to tackle the challenges associated with the change.

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According to Adejumoh, the third edition of NITRA’s quarterly forum where stakeholders will converge to tackle the issue.

He said that they would be discussing the topic entitled: “Digital Payment: Prospects and Challenges of a Financially Inclusive Nigeria”.

“The digital disruption is changing how traditional banking services, payments, and remittances are now offered in the digital economy.

“Almost all sectors of financial services including payments, money transfers, banking and more are being re-imagined by non-traditional providers and FinTechs.

“The traditional incumbent providers are reinventing themselves very quickly to understand better, the puzzle presented by FinTech and how they can leverage on the digital movement.

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“NITRA, an umbrella body for journalists reporting information and communications technology in Nigeria is organising its third edition of its quarterly forum for stakeholders to dwell upon,” he said.

Adejumoh said that the event, which would hold on Sep. 29 in Lagos, would highlight the challenges and opportunities in the FinTech space in Nigeria.

He said that it would also provide knowledge and networking platform that would bring the Nigeria Fintech industry at par with its counterparts across the globe.

“The event also offers the banking, ICT and FinTech industries an excellent opportunity to showcase some of their achievements before the largest gathering of the sectors players under one roof.

“It affords them the opportunity to share their contributions to Digital Payments as well as efforts towards actualising financial inclusion in the country,” he said.

 

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