Lawal: Improved Collaboration’ll Boost Growth in Financial Industry

Lawal: Improved Collaboration’ll Boost Growth in Financial Industry

To accelerate growth and deepen financial inclusion in Nigeria, it is imperative for players in the financial service industry including banks, telcos and fintechs to improve collaboration level to provide innovative solutions and unique offerings to customers.

THECONSCIENCEng reports that Akeem Lawal, Managing Director, Interswitch Purepay made this known during the Nigerian Fintech Forum held recently at the Civic Center, Victoria Island, Lagos.

In his keynote address tagged “Building Partnership for Growth, Exploring the Intersection of Banks, Telcos and Fintech Companies” Lawal explained that the Nigeria financial industry has evolved tremendously over the years with customers transitioning from banking halls transactions to adopting digital payment services.

He noted that despite the growth of the financial sector, customers are yearning for more innovative and seamless payment solutions hence, players in the financial industry must work with one another to design cutting-edge solutions that speak to the needs of customers and further strengthen the financial industry.

He reemphasized the need for players in the financial industry, including the banks, telcos and fintechs to leverage collaboration to provide innovative and seamless solutions to customers, to meet the 95% financial inclusion target by 2024.

Also speaking during the panel session tagged “Regulating Nigeria’s Fintech Industry, Building Investors Confidence Without Stifling Growth”, Tyoyila Aga, Group Head, Financial Services Business at Interswitch, said it was important that players in the industry collaborate with regulators, keep abreast of new regulations and help strengthen compliance levels to grow the financial industry.