In a bid to further develop the banking industry in Africa with growing technology, Inlaks Limited, an information technology company and systems integrator is set to gather stakeholders, regulators and investors in the Financial Services Industry (FSI) at the maiden edition of the Inlaks digital summit to discuss issues and proffer solutions to aid the growth and development of digital banking.
The summit which is scheduled to hold in Lagos on 18, October 2019, will explore the diverse opportunities technology offers to the financial and banking sectors and how African business leaders can harness it, as discussions will surround the theme of “Unlocking the opportunities in the digital banking age.”
Speaking on the importance of digital solutions for financial services, especially at a time where there is a conscious drive to deepen financial inclusion rates in Nigeria, Femi Adeoti, managing director Inlaks said; “for over three decades, Inlaks has thrived successfully in bringing authentic and innovative solutions to its customers. In today’s world of unprecedented shift in digital tendencies across industries, every economic sector must be well-prepared for the imminent change to stay relevant. Inlaks Digital Summit 2019 will address issues relating to the relevance of technology to the financial and banking industries, preparing our industry for coming technological disruptions and arming them with adequate knowledge on the future of banking”.
Read also: Financial inclusion is not responsibility of financial institutions -Page Financials
Tope Dare, executive director, infrastructure business at Inlaks told journalists during a pre-event press briefing at the company’s headquarters, that the summit has come at the right time given that there is now a rapidly growing adoption of digital banking by consumers and increased investments in this segment.
“The financial service and banking sector, in the last decades, has witnessed disruption due to changing technology and consumer behaviors. By 2020, most of the big players in the fintech industry will be competing with banks for same customers. Therefore, only banks that can transform into an effective digital bank will survive the threat and stay relevant. At Inlaks Digital Summit, key players in the industry will share their experience on multiple solutions to the challenges related to branch transformation, mobile money and cyber security. Four major focus of the conference will be on data to drive business, new business models, regulatory requirements for digital banking and finally, technology that will influence banking operations,” said.
On the involvement of Fintechs and telecommunications companies who have recently been granted payment service banking licenses to operate in the financial services sector and have the technical know-how, Dare told Businessday that stakeholders in banking as well as fintechs and telcos will be involved in discussions to proffer solutions through a communique to the industry regulators. Also, he said that discussions on industry issues will help solution providers like Inlaks, think of ways to develop innovations that will aid the future of banking.
“As companies continue to evolve, we realize that we need more of collaboration rather than competition. Banks are now collaborating with the technology companies to deliver value to customers,” he said.
The summit will include panel discussions and keynote addresses, networking sessions, product exhibitions/demo and an award recognition ceremony.
Elucidating more extensively on the summit activities, Olufemi Muraino, executive director, financial business at Inlaks added that awards of recognition will be given to Inlaks’ worthy clients and partners to appreciate their long-standing trusts in Inlaks as their service provider. He further mentioned that different OEMS will be exhibiting latest products and innovations to specialized decisionmakers focused on finding unique solutions and emerging technologies for successful baking operations.
The summit parades over six partners and more than 300 participants. Inlaks said speakers have been carefully selected to represent every segment of the financial services industry, consumers, commercial banks, micro finance banks (MFBS), fintechs, insurance, telecoms companies, agent banking networks, and the regulators.
