Retail banking roundtable holds in Lagos

They made this known recently during the 2nd Africa Retail Banking Roundtable Conference organised by Jeff & O’Brien Conferences and Events in Lagos and with the theme; “Rethinking Retail Banking Architecture & Infrastructure”. Mr. John Berry, an International Retail Banking Consultant, Faculty Lead and Advisor, Jeff & O’Brien, in his keynote address said that banks needs to rethink some areas they do business and the processes they demand of there customers internally. Berry noted that customers are meant to be protected and not the other way round, adding that, if care is not taken, some retail banks are heading towards extinction especially with the way they operate by not putting customers into consideration.



“If we don’t change our regulations, we won’t have banking in the future” he said. Meanwhile, Mr. Ifie Sekibo, special guest and Managing Director, Heritage Bank Plc, who was represented by the Executive Director of the bank, Mr. Ola Olabinjo hinted that they are positioned to drive retail banking with business transformation strategy for its customers. He pointed out there is a fundamental transition in digital and mobile technology that would reshape how product and services offering is purchased by customers. Sekibo further posited that change has already taken place with the adoption of internet, mobile technology amongst other platforms to boosts retail banking services. Mr. Usoro Usoro, head, Financial Inclusion Services, MTN Nigeria, noted the fast changing and disruptive world driven by technology is shifting customers behaviour leading to increased competition.


 He, however, added that technology is the most significant as it enables and fuels the others at lower cost and greater access. ”Diverse industries are being transformed leading to grand convergence as at 2015 in the areas of banking, credit, Insurance, travel…and lot of others” he said. Moreover, Mr. Pascal Odibo, group country director, Jeff & O’Brien, in his opening remarks averred that so far, 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. He maintained that policy changes and low-cost infrastructure built on mobile and digital technology has played a major role in advancing access to financial services by the under-banked.

“There is however still a lot of room for further development and huge profitable opportunities for current players and prospective investors who are willing to be innovative in embracing low-cost infrastructure for efficient service delivery” Odibo said Jeff & O’Brien is an international professional knowledge development firm with key business interest in corporate training, business support and advisory, conferences and publications. Also, Jeff & O’Brien Conferences and Events, an arm of Jeff & O’Brien International, is a thought leadership and agenda-setting forum targeted at senior professional executives addressing topical issues of global, regional, national and economic importance. Holding every quarter, the events attract leading minds on key subjects with a view to superintending superior thinking on critical global issues.