CIBN to Highlight Threats of Fintechs

The Chartered Institute of Bankers of Nigeria (CIBN) has said it plans to collaborate with stakeholders to sensitise members of the public on the eminent threats surrounding the fintech space.

In a statement, the Chairman, CIBN Lagos branch, Mr. Kola Abdul, said: “As relevant and transformative as financial technology is to the financial service providers globally, the threat it poses to the traditional banking industry is huge and must not be overlooked.”

The chairman stated further that CIBN, in collaboration with its parent organisation,waswillingtocollaboratewithrelevantstakeholderstoembark on sensitisation of banking industry on the real threats posed by FintechS.

The statement also quoted the Publicity Secretary, CIBN Lagos branch, Mr. Jide Iyanda, as noting that the financial innovation brought by the emergence of Fintechs also came with opportunities and challenges.

According to Iyanda, the development informed the reason the Lagos branch of the CIBN , in its forthcoming “2018 Bankers and Stakeholders night is focusing on Fintech.

According to the statement, the one-day event which has the theme, ‘Big data, Fintech and the future of banking,’ will hold in Lagos in July.

“The annual Lagos Bankers and stakeholders’ event has become a veritable platform where topical national issues bothering on economy, banking industry and enterprise risk management are being thrashed out by experts in the fields,” the statement added.