Experts Harp on Fintechs, Banks’ Collaboration to Improve Customer Service

The need for financial technology (fintech) players and the banks to collaborate on data generation and analysis in order to improve on customers’ service delivery, was the focus of a Business Forum organised by CFJ-ACAMB in Lagos recently.

Participants at the business forum saw huge potential in fintech players who are currently developing technology solutions that are driving financial transactions in the financial service space.

They stressed the need for collaboration between fintechs and the banks to further meet the needs of financial services customers who are yearning for more solutions that would make them do more financial transactions, without visiting any of the bank branches.

The Executive Director, SystemSpecs Limited, Mr. Aderemi Atanda, one of the speakers at the forum, said there are lots of untapped data about customers’ behaviour and spending habit that could be generated and analysed that can help the banks and other financial institutions make better policies that would enhance their business and offer full satisfaction to customers’ needs.

“To achieve this, fintechs and banks must collaborate to further develop the Nigerian financial space, that is currently doing over N80 trillion financial transactions on its e-payment platforms, up from N4 trillion transactions it was operating on in the last three years,” Atanda said.