The Founder of CWG Plc, Mr. Austin Okere has challenged banks in Nigeria to innovate and meet the changing needs of their customers, especially now that Financial Technology is ravaging the financial services industry.
Okere made the challenge to the bank as part of his take on the outlook of Nigerian Fintech space in 2018, and was published on his official Linkedin page.
According to him, having understood how to meet the financial needs of ordinary people, Fintechs are fast becoming the driving force of financial inclusion, noting that the banks seem to be more attuned to providing services only for big corporations and high net worth individuals.
“Banks will do well to remember that the Post Office was at some point the center of our lives. Any industry that does not innovate to meet the changing needs of their customers is surely heading into oblivion,” he argued.
Fintech are gradually dictating the pace of the financial services industry, leaving the bank puzzled.
