FITC@40: Re-engineered to deliver increased value to financial service sector

...through innovative knowledge solutions

FITC, the world-class innovation-led knowledge institution committed to leading the advancement in knowledge content, is redefining the learning space through technology and innovation. This is even more so as the organization is set to celebrate 40 years of providing transformative knowledge solutions to the Financial Services, and other sectors of the Nigerian economy.

Established in 1981 as a limited by guarantee non-profit professional service organisation, based on the Company’s Act of 1968, the organization was created in response to the recommendations of the Pius Okigbo Committee, which was set up by the Federal Government of Nigeria in 1976 to review the financial service system.

Under the direct supervision of the Central Bank of Nigeria (CBN), the Nigeria Deposit Insurance Corporation (NDIC) and the Nigerian Bankers’ Committee, FITC has since remained committed to the advancement in knowledge content that is creatively designed to reinforce the Nigerian financial system.

For four decades, FITC has delivered best-in-class knowledge solutions and services to a pool of over 200,000 multidisciplinary and versatile professionals ranging from directors of banks and other financial institutions, top management, and middle-level staff of other sectoral organisations from both the public and private sectors of the economy, and across 53 countries and six continents.

Through its innovation mindset, deep market insight and world-class approach to programme design thinking, FITC redesigned all its learning solutions by infusing its programme curriculum with more relevant contents that address the future of work and the future need of businesses. The institute is now focused on new product development, expansion into new markets, business growth through digital transformation and operational restructuring, as well as people engagement and excellent service delivery.

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Notwithstanding its remarkable accomplishments specifically across the organization’s six strategic pillars of product, process, platform, people, performance and positioning,speaking on the future of the organization, Malize stated that in line with the institution’s corporate strategic blueprint and 5-year plan (2020-2024), as well as its new vision to build a world-class, innovation-led and technology driven knowledge organization,FITC is poised to accomplish even much more in the years to come. “To achieve this, we have created a vision that meant that for us to remain relevant and ahead, we must be technology-driven, and we must be an extremely innovative organization. These we are already implementing to ensure sustainable business performance, success and growth” Malize said.

Speaking to journalists at a media interactive session held recently at the organizations head office in Lagos, Chizor Malize, managing director/CEO, FITC, stated that the 40th anniversary milestone is a celebration of the organization’s rich heritage and continued commitment to its mandate to develop and strengthen the resources of the financial services sector and other sectors of the economy. “In line with our strategic blueprint and new organizational direction, and leveraging technology and innovation, we defined our six success pillars which are programmes, process, platforms, people, positioning and performance. We took deliberate and strategic steps by making significant changes across these key drivers of the positive transformation experienced today by our stakeholders.

In executing these changes, we reviewed our programmes and portfolio of offerings; redesigning them to meet the needs of our stakeholders based on the evolving business landscape. FITC will continue to transform the African continent, impacting it with knowledge, through our re-engineered Learning Programmes, Board Leadership, Executive Education, Advisory and Research service offerings” Malize said.

It will be recalled that in refocusing to be better equipped to deliver value, even amid disruptive trends and the impending changes the VUCA times presented, FITC recreated and re-engineered its processes and programmes, making them more applicable for the future of work and more impactful to individuals and organisations. This was accomplished through the organisation’s visionary and proactive steps to become nimble by promptly adopting and embracing enterprise agility as part of its corporate strategy even before the COVID-19 pandemic chanced upon the world.

In celebrating its 40th anniversary milestone, Malize disclosed the organization has launched a specialline-up of anniversary initiatives aimed at impacting their immediate community, the youth segment, the Financial Service Sector, and other sectors of the economy.

“To celebrate this important milestone, we launched the FITC Sustainability Initiative with Slum2SchoolAfrica, avolunteer-driven development organization, transforming society by empowering underserved children in slums and remote communities with quality education, entrepreneurial skills, technology, and psychosocial support to enable them to realize their full potential. We have partnered with this transformational organization, to empower children and other beneficiaries leveraging on our institution’s specialty in mentorship, as well as building and developing capacity. We have so far mentored hundreds of children since the partnership took off in August”Malize noted.

As part of the anniversary activities, the organization is also set to launch the maiden edition of the FITC Awards for Excellence (FAFE)in November 2021.The Award initiative is aimed at recognizing individuals and organizations who have contributed to the development of the Financial Services Sector, through innovative service offerings and initiatives around service excellence, product innovation, employee engagement, regulatory excellence, sustainability and impact.

Similarly, on the FITC Hackathon Challenge targeted at the youth segment, and which is also set to launch this quarter, Malize notedthat as part of the organization’s celebratory activities and in line with their unwavering commitment to continuously promote innovative thinking that could further enhance growth and development in Africa, FITC will be launching the FITC hackathon challenge. “We will be calling on teams, young experts, problem solvers, creative thinkers, specialists in various fields, programmers, graphic and online designers to participate in a 2-week collaborative innovative process, to create tech and non-tech solutions to some of the most pressing needs in Africa’’ Malize stated.

For the grand finale, the organization will host a special anniversary summit which will be followed by a cocktail and dinner event in December.

The Premier knowledge Institution has continuously equipped professionals in the Nigerian Financial Service Sector and other sectors for 40 years with industry-relevant knowledge, which has helped professionals in navigating and advancing their careers while building on its member firm’s success through its clear vision, strong corporate values, and its culture of excellence.

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