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Fintech Heaping Pressure On Financial Services Sector

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The fintech industry has been said to mount pressure on the Nigerian financial services sector, employing technology to deliver bespoke financial services.

This was stated by the Managing Director (MD) of FITC – a professional services institute under the Bankers Committee – Chizor Malize in a statement disclosing details of the current edition of the FITC TechNovate Conference.

A conference that was promised to, “attract the brightest minds in the financial system” from within the continent and beyond.

The MD said, “The Nigerian financial services sector has come under intense pressure from Financial Technology (FinTech) firms, which are agile and innovative firms leveraging technology to deliver tailored financial service offerings to consumers and corporates.

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“Still, the Fintech sector remains largely unregulated, with stakeholders yet to develop an acceptable regulatory framework for the sector.

“The FITC TechNovate Conference will attract the brightest minds in the financial system, within and outside Africa.

“The landscape of financial services is undergoing a paradigm shift, giving rise to new technology innovations, process disruptions and a landscape redefined by FinTech disruptors.

“To take advantage of the opportunities ahead, financial institutions must implement novel strategies that will give them a competitive edge in today’s business environment.

“The two-day virtual conference will provide opportunity for participants and speakers to discuss topical issues in the FinTech and financial services ecosystem.”



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