Inlaks, CBN, Others Promote Digital Banking
Inlaks, a system integrator in sub-Saharan Africa, in partnership with the Central Bank of Nigeria (CBN)and some other other organisations recently organised a forum for financial players in Lagos, where best practices for digital banking was stressed.
The forum highlighted how digital banking technology was reshaping the banking industry and provided insights about various market trends and advances both locally and globally.
Presenting a keynote address at the forum with the theme, “Banking in the Digital Age”, the Deputy Director, Other Financial Institutions Supervision (OFIS) Department, CBN, Adedeji Adesemoye, identified fundamental approaches that banks could use to enhance their digital capabilities.
He listed financial inclusion and digitisation as a means that could foster innovation across products, business models and allow straight-through processing that can automate and digitise a number of repetitive, low-value, and low-risk processes.
He further stressed the need for banks to have a vision of their future, technology, infrastructure and a well-defined corporate culture are major factors that determine whether a bank is successful in this age.
The Head of Sales, Microfinance and Saas (Africa), Temenos, one of organisers, Nehal Batavia, said Temenos had been providing innovative solutions to financial institutions worldwide for 25 years.
He added that Temenos had been involved in this by building, delivering and supporting financial institutions through the world’s best packaged, upgradeable and open banking software.
In a joint presentation by the General Manager, Enterprise Business, Kingsley Oseghale; Executive Director, Sales and Strategy, Tope Dare, and Cyber Security Manager, Adeyemi Ademiluyi, Ademiluyi stated there was no way that the issue of cybersecurity could be left unattended to when discussing banking in the digital age
According to Ademiluyi, “There are opportunities in this digital era, but there are also real threats in digital banking and it is important that organisations stay safe. Every day, attacks are launched at digital companies and these attacks are becoming more sophisticated.
“The ‘cyber thieves’ are becoming more creative and innovative in their approach. Organisations spend thousands and millions of dollars trying to put in place security software and infrastructure to limit these threats. We have been helping our clients to stay safe using multiple steps which will keep them ahead of cyber thieves.”