FirstBank’s 5th FinTech Summit to dissect impact of open banking on financial inclusion

Dr Adesola Adeduntan CEO First Bank of Nigeria Ltd

The 2021 edition of First Bank of Nigeria’s annual FinTech Summit will hold on Thursday, October 7, 2021, by 10:00 am, the bank has announced.

The virtual event is opened to the general public, however participants are required to register via the link

The fifth edition of the event themed “Open Banking and its Derivative Opportunities for the Financial Ecosystem” will be discussed by experts, policy influencers, regulatory officials as well as key and leading players in the Nigerian financial, banking and technology climate.

To lead discussion as the keynote speaker will be Prof Ndubuisi Ekekwe from John Hopkins University, US.

Other panelists include Ankit Sharma,
director at strategy and a part of the PwC network, based out of Mexico; Ope Adeoye, CEO (chief plumber) at One Pipe; Aminu Maida, executive director, technology and operations at Nigeria Inter-Bank Settlement System Plc (NIBSS), Musa Jimoh, deputy director, payment systems at the CBN; and Olayinka Situ, head, corporate transformation, FirstBank.   

According to the bank, the need for open banking in Nigeria cannot be overemphasised as the importance goes beyond just convenience to its game-changing impact in transforming value creation, product conceptualisation and closing the financially excluded gap.

It added that through standardised and accessible open API technologies, innovators and product developers alike are now availed a wealth of big data and attendant insights, with the potential to completely redefine standards for product conceptualization, customer satisfaction and service delivery across Africa’s largest economy.

Building up conversations into the event, the bank recently hosted several podcasts with speakers sharing insightful tips that will impact an end–to–end growth of financial technology in the country.

Speaking on the event, FirstBank’s CEO Adesola Adeduntan said, “Our annual FinTech Summit in the past four years has been a platform of leading conversations and practices that have impacted the financial technology and electronic banking eco-system which has been integral to bridging the gap and digital divide of modern banking in today’s global village. Participants at our summits have been enlightened on ways to optimally carry out their digital transactions and business activities in safe and seamless ways.

“Financial services have continually evolved in Nigeria and the world over and we intend as in previous years to use our FinTech summit this year to discuss different views on Open Banking and its associated opportunities with the goal of building on the successes achieved in the past.”