FirstBank holds Fintech summit

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FirstBank of Nigeria Limited has held its virtual  FinTech Summit 4.0 in Lagos.

It has a theme: ”How Blockchain and Artificial Intelligence will Disrupt FinTech in Nigeria”.

The programme was part of the bank’s plan to deepen e-payment and enhance financial inclusion in the country.

Group Executive, e-Business & Retail Products, Chuma Ezirim, said FirstBank has adopted the open data policy, and is partnering with Fintechs in getting more customers into the financial system.

 “We work closely with Fintechs, and our relationship with them is mutually beneficial. If you are a Fintech and you want to leverage on our data to get more people into the financial system, we will oblige you and ensure that whatever agreement we reach with you on your business idea is protected,” he said.

Deputy Managing Director, FirstBank of Nigeria Limited, Mr. Gbenga Shobo said: “At FirstBank, we have been at the forefront of employing technology in the delivery of financial services in the country exemplified by our various products and services such as FirstMobile, USSD Banking services, FirstMonie Wallet, FirstMonie Agent Banking, FirstAdvance loans provisions.

“The 2020 edition of our fintech summit has built on the successes achieved in the last three editions. We welcome the panelists as we look forward to the shared knowledge which will be integral to deepening the continued growth of banking technology, especially its impact on the Gross Domestic Product of Nigeria and the continent at large,” he added.

The CBN recently promoted the use of regulatory sandbox which is a formal process for firms to conduct live tests of new, innovative products, services, delivery channels, or business models in a controlled environment, with regulatory oversight, subject to appropriate conditions and safeguards.

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