Agbaje says technology is key to access to financial services

GCEO, GTCO Plc, Segun Agbaje (left), and CEO, Infosys Finacle, Sajit Vijayakumar at the event.

By Stanley Onyeka, Lagos

Group Chief Executive Officer, Guaranty Trust Holding Company Plc (GTCO), Segun Agbaje, has identified technology as key to accessing digital and financial services.

Mr. Agbaje was quoted as saying this at the recently concluded, Finacle Nigeria Banking Connect 2024, hosted by Infosys Finacle, in partnership with IBM and CWG, which was held in Lagos.

Over 200 senior bankers representing all the leading banks in Nigeria attended the event.

The conference was themed: Recomposing Banking – had sessions covering the benefits of a Composable Core and Payments, how to successfully run a Digital Only Bank and how to offer a new age Digital Wallets platform to retail and corporate customers.

Mr. Agbaje, who delivered the keynote address, titled: “A Digital-Only Africa – A Vision for 2030 and Beyond,” shared his insights and vision for the African Banking community in this digital-first era.

He also discussed Africa 2030 and emphasized how technology will remain the driving force behind the accessibility of digital and financial services across the African continent.

He highlighted that investments in digital infrastructure and collaboration are crucial for transforming the African banking sector.

The Chief Executive Officer, Infosys Finacle, Sajit Vijayakumar, presented the concept of Recomposing Banking, and the benefits for banks as they recompose their customer engagement, operations, technology, and overall business models, to adapt, innovate, and stay ahead of fast-evolving digital goalposts.

…investments in digital infrastructure and collaboration are crucial for transforming the African banking sector.

He also presented global transformation stories of Emirates NBD, Santander UK, ICICI Bank and others on how they have realized the benefits from Finacle’s composable architecture. He talked about how a composable platform is the future of banking, and that Infosys Finacle stands committed to providing such a platform for banks in Nigeria.

The three-hour conference concluded with an insightful panel discussion titled: “Unlocking the Next Gear: Leveraging Digital Core and Cloud for Nigerian Banks in a Digital World.”

Dr. Ademola Ayodeji Odeyemi, Managing Director of Optimus Bank Limited, and Elias Igbinakenzua, Managing Director and CEO of Globus Bank, were panellists at the session moderated by Sriranga Sampathkumar, Regional Head of Business for MEA at Infosys Finacle.

The panellists shared their views on the pivotal role of digital core platforms and cloud solutions as the key drivers for Nigerian banks to thrive and evolve in today’s digital landscape. Discussions revolved around how technology serves as a critical differentiator, enabling banks to remain sustainable and boost growth.

The event also saw the presentation of mementos by Infosys Finacle to customer banks, including United Bank of Africa, First Bank of Nigeria, Guaranty Trust Holding Company Plc, Stanbic IBTC and Fidelity Bank, celebrating their long-standing partnership with them.

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