Financial technology is said to be the tool helping emerging economies all across the world leapfrog into the 21st century by bridging the service gap to reach previously financially excluded segments, particularly through the use of mobile apps and agency banks. Digital channels promise to expand outreach into rural areas, where bank branches do not exist. However, while investing in technology and the infrastructure that supports it is relatively easy, making adequate use of it and building an organisational culture that embraces it can be a roadblock for many. Being able to maintain your banking institution agile enough to face continuous challenges in an evolving and uncertain economic climate is essential in today’s world.
West Africa has undergone several transformative changes over the last few years. In Nigeria, the fall of oil prices led to a recession and a shortage of foreign currency reserves that lasted into the first half of 2017. Macroeconomic conditions have prompted the need for sweeping change across the spectrum of financial services; where there is need to be less dependent on commodities and more reliant on sustainable domestic growth, namely in agriculture, retail consumption, and small and medium enterprises (SMEs). Banks need to adapt their services to suit these conditions and undergo a digital transformation that will best allow them to serve these market sectors.
It is a decisive moment for banks, regulatory agencies, and financial technology (fintech) players in Nigeria and West Africa. It is against this backdrop that The Asian Banker has organized a three day event where industry professionals can discuss and share all of the latest international banking trends and strategies. April 16-17 will include a training workshop entitled Digital Banking: Operative, Tactical and Strategic Best Practices instructed by world-class facilitator Mr. David Gyori from The Banking Reports. This two-day Digital Banking workshop is designed to help bankers learn global best practices of digital transition. On the morning of the third day, April 18th, The Future of Finance, West Africa 2018 Conference will gather international, regional and local experts from the financial service industry to explore new ideas on modernising financial services in a way that will be both beneficial to customers and profitable for financial institutions.
Key working sessions include: