• Sunday, December 03, 2023
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How fintechs can deepen financial inclusion – 9PSB CEO


Branka Mracajac, the managing director/ CEO of Payment Service Bank (9PSB), has highlighted strategies that industry stakeholders can leverage in race to bridge the financial inclusion gap in Nigeria.

“At 9PSB, we co-create new products and services with fintechs to close product/feature gaps. Apart from driving financial literacy amongst the unbanked and the underbanked, we share ideas and compare notes to remain up-to-date with the payment and regulatory trends.

“We also collaborate with other fintechs to open new markets and further deepen financial inclusion, which is our primary mandate,” she said during the second Nigeria Fintech Forum, with the theme
‘Reimagining the Future of Financial Inclusion in Nigeria: Examining the Roles of Banks, Telcos and Fintech’.

The Nigeria Fintech Forum is an annual event that provides a veritable platform for industry players to converge, address critical issues in the African
fintech ecosystem while uncovering countless opportunities in the financial technology space.

Mracajac, who was represented by Akeem Salam, the Ag. head of business development and strategy, 9PSB, in a keynote address said that the brand provides products and services via robust and scalable APIs for fintechs to innovate and scale up in a cost-effective manner.

“9PSB is a fully digital bank and as such, we leverage digital platforms to provide payment solutions like the Wallet-as-a-Service (WaaS) and Virtual Account which allows for payments with bank transfer for merchant collections, as well as our Payout with 9PSB service, to mention a few,” she said.

Kunle Isiaka, head, sales and distribution, 9PSB, during the executive masterclass session spoke on the race towards the future of digital payments.
“At 9PSB, we leverage different digital platforms that enable our clients achieve seamless digital payments easily for themselves and their customers,” he said.

According to Isiaka, stakeholders must collaborate in providing seamless payment experiences for their customers at affordable rates.

“Our Agent network – Agent Bank9ja, is resilient and equipped with the right tools, technical know-how and capability to achieve and deliver efficient products and services, most especially to the unbanked and underbanked segments,” he said.

According to him, 9PSB leverages Banking-as-a-Service (BaaS) and Wallet-as-a-Service (WaaS) to drive innovations for financial inclusion.

“Some benefits of the Wallet-as-a-Service are that it supports all channels and guarantees instant settlement and revenue assurance, in addition to providing a robust reporting capability, regulatory compliance and webhook notification,” Isiaka said.