The electronic banking market, otherwise known as digital banking, is growing fast, throwing up major challenges in the system, with vulnerability to fraud alone estimated at $31 billion as at 2018.
This has put industry stakeholders, including financial experts in Nigeria on their toes, as they focus on how to retool their systems in order to minimise these challenges and optimise the benefits of electronic banking.
Accordingly, bankers under the auspices of Chartered Institute of Nigeria (CIBN), Lagos branch, are spearheading a crusade to sensitise the public on emerging trends, challenges and benefits of digital banking.
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The Institute said it has concluded arrangements to hold a robust intellectual discourse tagged “Rethinking Banking Models in the Digital Age for Economic Development of Nigeria.” The event, which is scheduled to hold in Lagos, August 29, 2019, at Muson Centre, Onikan will provide a platform for industry stakeholders to rub minds on the way forward.
Speaking with newsmen ahead of the programme, the Chairman, CIBN Lagos branch, Mr. Peter Ashade, said the topic was instructive for the general banking public, banking practitioners and regulators, as digital banking has become strategic in the heart of the economy.
According to him, this was particularly so now that the country is seeking greater financial inclusion and more efficient banking services.
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