FirstBank, in partnership with Financial Technology companies, organized its 3rd Fintech Summit today 16th October themed “Integr8: Banking + Tech = Solving Real Problems”.
The summit featured discussions on key opportunities within the financial services space where technology can shape its evolution. It was a gathering of high minded individuals where participants learned a lot from the various speakers and sessions.
The keynote speaker, Mr. Victor Asemota, Founder Swifta Systems & Services, an Information Technology company that seeks to tap into worldwide technology trends, offering a wide range of professional IT services and products, spoke on the theme of the Fintech summit “Integr8: Banking + Tech = Solving Real Problems”. He talked about aspects of the banking system in Nigeria, Brazil and Ghana, the policies that worked and those that didn’t. His major call to attention for Nigerian banks is that “Lending is the most profitable bank activity globally, it is NOT payments” Interestingly, Personal/SME lending is the largest segment but in Nigeria, it is the reverse now.
There were sections on “Technology & lifestyle”, “Solving Regulatory, Security & Legal & Problems” and “Solving Business Problems”
FirstBank introduced the first of its kind Visa Debit Multi-Currency Card. it can be used to make all international financial transactions with ease. With this card, you can spend in Naira, Dollars, Pounds and Euro.
The card can be used to make online purchases, pay bills and access cash at ATMs worldwide. It requires no cash collateral before being issued. It is secured by Chip & PIN technology and has a lifespan of 3 years. It is accepted globally at ATM, POS and Web. It also has additional protection for Web-based transactions with “Verified by Visa” (VbV).
Callistus Obetta (Group Executive, Technology & Services First Bank of Nigeria Limited) gave a closing remark, encouraging SMEs to join the First Bank SMEconnect to enjoy benefits like getting the discounted opportunity tool, invites to capacity building events and lots more.
Fintech has made a great impact in our world today and it will keep on getting better as with the help of the government, private sector companies and startups.
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