Tuesday, August 26, 2025
24.1 C
Lagos

Heritage Bank Seeks Banks, Fintechs’ Partnership on Financial Inclusion

Heritage Bank Plc has stressed the need for sustained collaboration between banks and financial technology companies (fintechs). This will support Central Bank of Nigeria’s (CBN) drive for financial inclusion and promote economic growth.
Managing Director of Heritage Bank, Mr. Ifie Sekibo, said this while delivering a goodwill message at the 2018 Annual National Conference of the Finance Correspondents Association of Nigeria (FICAN) held in Lagos, recently.
Sekibo, was represented at the event by the bank’s Divisional Head, Corporate Compliance, Mr. Wumi Adeniyi.
Sekibo, pointed out that over the years, Heritage Bank has developed solutions to promote financial inclusion.
He said Heritage Bank had taken bold steps to boost the CBN’s initiative of reducing the numbers of unbanked Nigerians the country, by offering financial services to the nooks and crannies of Nigeria thus providing access to the under-served markets.
“We all agree that our target is to achieve acceleration of financial inclusion. Those who are financially excluded are majorly technologically excluded.
“That means that we cannot push financial inclusion if we do not also push technology inclusion. We believe that by partnering fintechs, the financial services industry will push for inclusion and improve the economy. “That is because the financially excluded persons actually constitute a gap in the financial system and there is no way we can create a perfect economy except we bring all these people on board.
“Another issue is that the older generation is averse to technology because they have not been exposed to it and the fear of fraud. The CBN and the banks will continue to improve on our technology space.
“We might still have issues, but with the creation of the Consumer Protection Department of the CBN, the customers are sure of protection.”

spot_img
spot_img

Hot this week

Fidelity Bank to Host Eduthrive Conference to Empower School Owners Ahead of New Academic Session

Leading financial institution, Fidelity Bank Plc, is set to...

Japan Designates City of Kisarazu as Hometown for Nigerians

Mrs. Florence Akinyemi Adeseke, Nigeria’s charge d’affaires and Yoshikuni...

Tinubu Lauds Petrobras’ Imminent Return as Nigeria, Brazil Ink MoUs to Boost Economic Ties

President Bola Tinubu on Monday welcomed Petrobras's imminent return...

Businessman, Ajose, Donates Materials to APC for Continuous Voters Registration Exercise

As part of efforts to support the rulling All...

LASAA Reaffirms Commitment to Fairness, Safety, Industry Growth

Prince Fatiu Akiolu MD, LASAA Lagos State Signage and Advertisement Agency...

Topics

Linkage Assurance: N35bn Total Assets, N11bn Premium Income in 2021

Daniel Braie Managing Director/CEO Linkage Assurance Plc Linkage Assurance Plc in the...

17 Insurance Firms Await June 30 NAICOM Deadline

A total of 17 insurance companies are racing to secure approval of their 2014 annual accounts by the industry regulator, National Insurance Commission (NAICOM) by the close of work on Tuesday, June 30, 2015. Already, 23 operators have received NAICOM approval on their account. Click here to make lazy tweet

NCC CEO, Danbatta, Bags Award for Exemplary Leadership in Public Service

The Executive Vice Chairman and Chief Executive Officer of...

Travelstart, MTN in Strategic Partnership, Raises $40m for Online Travel Market

Travelstart, the leading Internet travel booking company in Africa,...

‘Connected Industries Vulnerable to Cyber-attacks, Liability Risks’

Three utilities companies in the Ukraine, the Israel National...

Banks, Telcos Disagreement Hindering Mobile Money Services

The inability of banks and telecom operators to agree on modalities for mobile money operations is hindering the potential of such transactions in Nigeria, compared to the acclaimed success of M-pesa in Kenya. Mobile money transactions need legislations and approvals from both the Central Bank of Nigeria (CBN) which regulates the banking sector and the Nigerian Communications Commission (NCC) that oversees telecom services in the country. Giving an insight into the success of M-Pesa in Kenya at the Commonwealth Broadband Forum 2015 in Abuja, Mr. Joseph Tiampati Musuni, Principal Secretary, Ministry of Information, Communications and Technology, Kenya, said their country experienced a similar Banks-Telcos disagreement at the outset of mobile money services in Kenya. But he added that the government was able to facilitate an amicable and working arrangement between them to pave way for roll-out of the service.

Verve Expands to UAE, Activates 1st Transaction in Dubai

Verve, a leading payments technology and card business in...

AMCON Takes Over 2 Firms in N3.6bn Debt Saga

Following the order of Hon. Justice B.F.M. Nyako of...
spot_img

Related Articles

Popular Categories

spot_imgspot_img