Facebook Twitter LinkedIn RSS
    Trending
    • The Puzzle of Nigerian Corporate Prosperity in Harsh Economic Times
    • The Price of Staying Connected in Nigeria, By Don Pedro Aganbi
    • Krishnan Named among Top 50 MVP, Recognized as Digital Transformation Pioneer at 2025 ABoICT Awards
    • eBusiness Life Girls In ICT: Stakeholders call for more action on girls participation in ICT
    • Bridging the cybersecurity workforce gap: a global and African imperative, By Hamid Maher
    • Every Friday Is Black Friday: TD Africa turns up the heat on tech accessibility
    • SBTS Group CEO Evelyn Lewis Honored Among Nigeria’s Top 50 Digital Economy Influencers
    • The future of tech – how innovation is shaping business operations and strategy
    Facebook Twitter LinkedIn
    ITPulse.com.ngITPulse.com.ng
    • News
    • Interviews
    • Blogs
    • Analysis
    • Opinion
    • Videos
    • Press Releases
    • Pictures
    • Advertise
    ITPulse.com.ngITPulse.com.ng
    Home»News»Leverage digital offerings to enhance your business, experts tell financial institutions at KPMG Digital Summit
    News 3 Mins Read

    Leverage digital offerings to enhance your business, experts tell financial institutions at KPMG Digital Summit

    mmBy ITPulseNovember 3, 2017
    Facebook Twitter WhatsApp Pinterest LinkedIn Reddit Tumblr Email
    KMPG Nigeria, Data, Digital Offering, Fintech, Boye Ademola, Adebisi Shonubi
    L-r: Ladi Asuni – Associate Director, KPMG Nigeria, Adedeji Olowe – Executive Director, Products & Services, SystemSpecs Limited, Deji Oguntonade – Divisional Head, FinTech & Innovation, GTBank Plc, Shola Akinlade – Co-founder & CEO, Paystack and Victor Okigbo – Group Head, Financial Technology & Innovation, Access Bank Plc and Program Director, The Africa Fintech Foundry in a panel session on How Open API is Driving Digital Innovation and Collaboration in Financial Services at the KPMG Digital Summit in Lagos recently.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    By Martin Ekpeke

    Financial Technology companies and other financial institutions in Nigeria and across Africa have been urged by tech experts and enthusiasts to leverage digital offerings and data, stressing that these have the ability to move their business to the next levels.

    The experts, who gathered at this year’s KPMG Digital Summit in Lagos, noted that data is presently the cake and not the icing, as 10 percent of the biggest global brands in 2010 were digital companies. This has increased to 70 percent in 2017.

    Speaking on the topic, ‘The Future of Financial Services – Leading Through Digital’ Boye Ademola, Partner & Lead, Digital Transformation at KPMG Nigeria, posited that the digital industry has continued to experience exponential growth, as a result of the value it offers to businesses.

    “It is advisable for financial institutions to leverage digital offering. The industry in the last twenty years has not shrunk and it doesn’t appear it will ever do. Today, 70 percent of global brands are digital companies,” he said at the summit, which attracted huge participation from FinTechs, financial service institutions, government, private equity and venture capital firms.

    He listed the impact of digital platforms to include wrapping up customers, bringing innovations, helping pricing and the continued creation of values in the overall market value chain.

    Meanwhile, Fintechs have been advised on other service needs within the Fintech ecosystem, as focusing only on payment services will at the end shows lack of innovations.

    Adebisi Shonubi, Managing Director, Nigeria Inter-Bank Settlement System Plc, who gave the advise in a panel session tagged ‘The Role of Government and Regulators in the Evolution of FinTech’, said as far as the government needs to define what they stand for when it comes to Fintech evolution, those who are playing in the scene would have to reinvent their business model to lead in the ever financial world.

    “There are other service need in fintech as banking moves from physical to digital. To transform banks’ relationships with their customers in the digital age, Fintechs would have to deliver a highly engaging customer experience,” he urged.

    Shonubi  added Africa is the last frontier for the digital economy. This he said need a sense of urgency , urging Fintechs across Africa to innovate and come up with new business models in the absence of good payment infrastructure, which the continent is lacking. To achieve this, he suggests cooperation between players in the industry. “If we don’t cooperate, we’ll keep using foreign platforms. If we do cooperate, we’ll be joint beneficiaries,” he noted.

    The financial services industry has continued to show remarkable developments with entry of new innovative technology solutions, emergence of new digital business models, increasing adoption of FinTech services, growing local and international investments in technology innovation amongst other developments.

    But Africa appears not to have positioned itself in the financial services technology innovation ecosystem. This is largely the essence of the KMPG Digital Summit to facilitate discussions that will drive the sustainable growth and development of digital innovation to ensure delivery of value to consumers, businesses and financial services industry at Large.

    Adebisi Shonubi Boye Ademola Data Digital Offering Fintech KMPG Nigeria
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    mm
    ITPulse
    • Website
    • Facebook
    • Twitter
    • LinkedIn

    ITPulse is a wholly information technology communication (ICT) news website, with a special focus on the African continent. The website provides up-to-date biz-tech news, analysis and comprehensive and thorough insight into the continent's ICT terrain

    Related Posts

    Krishnan Named among Top 50 MVP, Recognized as Digital Transformation Pioneer at 2025 ABoICT Awards

    May 27, 2025

    eBusiness Life Girls In ICT: Stakeholders call for more action on girls participation in ICT

    May 27, 2025

    SBTS Group CEO Evelyn Lewis Honored Among Nigeria’s Top 50 Digital Economy Influencers

    May 26, 2025

    Leave A Reply Cancel Reply

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    Latest Posts

    The Puzzle of Nigerian Corporate Prosperity in Harsh Economic Times

    May 28, 2025

    The Price of Staying Connected in Nigeria, By Don Pedro Aganbi

    May 28, 2025

    Krishnan Named among Top 50 MVP, Recognized as Digital Transformation Pioneer at 2025 ABoICT Awards

    May 27, 2025
    About
    About

    Itpulse.com.ng is a wholly information technology communication (ICT) news website, with special focus on the African continent. The website provides up-to-date biz-tech news, analysis and a comprehensive and thorough insight info the continent's ICT terrain.

    Contact us: editorial@itpulse.com.ng

    Facebook Twitter LinkedIn RSS
    Latest Posts

    The Puzzle of Nigerian Corporate Prosperity in Harsh Economic Times

    May 28, 2025

    The Price of Staying Connected in Nigeria, By Don Pedro Aganbi

    May 28, 2025

    Krishnan Named among Top 50 MVP, Recognized as Digital Transformation Pioneer at 2025 ABoICT Awards

    May 27, 2025
    Popular Posts

    The future of tech – how innovation is shaping business operations and strategy

    May 26, 2025

    Kenya, Nigeria and South Africa bear the brunt of web incidents in Africa

    May 26, 2025

    Ikechukwu Nnamani of Digital Realty bags two major ICT industry awards

    May 26, 2025
    © 2017 - 2025 Itpulse. Designed by Max Excellence.
    • Terms & Conditions
    • Privacy Policy
    • Advertise
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.