Low cost data crucial to financial inclusion – Agbaje

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Segun Agbaje, GTBank, Fintech, Financial Inclusion
Segun Agbaje

 

A combination of affordable data and handset would deepen connectivity and ultimately lead to financial inclusion in Nigeria, the Managing Director and Chief Executive Officer (CEO), GTBank, Segun Agbaje has posited.

The GTbank boss took this position yesterday during a presentation on Building the bank of the future at the Social Media Week (SMW) event in Lagos.

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Agbaje, who admitted that both Financial Technology firms and telecom operators are daily taking market share from the usual brick and mortal banks, urged the bank to leverage Artificial Intelligence banking process.

“At this point, it will be pertinent for Mobile Network Operators (MNOs) like MTN, Airtel, Globacom and 9Mobile and other Internet Service Providers (ISPs, including the telecoms regulator, the Nigerian Communications Commission (NCC) to find a way to reduce cost of data,” he said.

He argues that there is a huge market in Nigeria for both MNOs and ISPs to make more money even at a reduced price for data. “Access to cheaper data services and handsets will do the magic if adequately explored,” he added.

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