Redefining Retail Banking

At the just concluded 2nd Africa Retail Banking Round-table Conference, specialists alleged that alternative delivery channel is key to redefining retail banking.

The conference organised by Jeff & O’Brien Conferences and events, aimed at reviewing the retail banking business with the theme “rethinking Retail Banking Architecture & Infrastructure”.

The conference saw the likes of the Managing Director of Heritage Bank Plc. in the person of Mr Ifie Sekibo; ably represented by Mr Ola Olabinjo who serves as the Executive Director of the bank. The Head, Financial Inclusion Services, MTN Nigeria, Mr. Usoro Usoro, and the Group Country Director, Jeff & O’Brien, Mr. Pascal Odibo were also present.

In the key note address delivered by Mr John Berry “If we don’t change our regulations, we won’t have banking in the future,”

Mr Ifie Sekibo noted that “there is a fundamental transition in digital and mobile technology that would reshape how product and services are purchased by customers.” Adding that the change has already taking place with the adoption of internet, mobile technology amongst other platforms to boosts retail banking services.

Mr Usoro Usoro in his own remarks said “Diverse industries are being transformed leading to grand convergence as at 2015 in the areas of banking, credit, Insurance, travel…and lot of others,

Mr Pascal Odibo did not fail to state that “there has been remarkable progress towards financial inclusion in Africa in the last decade. This has been driven by a combination of policy reforms, increased competition, financial and technological innovation,” he said.