The Executive Director, Systemspecs Limited, Mr. Aderemi Atanda, has described Nigeria as a leading country in the Financial Technology (Fintech) space in the world, and urged Nigerians to celebrate the successes of the country rather than its woes.
Speaking at the Centre for Financial Journalism (CFJ)-Association of Corporate Affairs of Managers of Banks’ (ACAMB) Business Forum in Lagos, he said many things have happened in the fintech landscape in Nigeria that have not happened elsewhere in the world.
Lamenting that the success stories of Nigeria in the financial technology space has not been adequately captured and celebrated, he said, this is because “we are not schooled in value narratives”.
Atanda advised on the need to “understand the paradigm that shape narratives”, saying this will help capture the successes achieved so far in the Fintech landscape. He noted that despite the successes achieved so far, even well acknowledged by advanced countries, there is still a lot of room for improvement.
Speaking on the theme Fintech and Financial Services Delivery in the Digital Age, he said Fintech which is driven by data, is transforming the ways financial and business transactions are now carried out. According to him, pay-tech is just one aspect of Fintech, and “virtually the only aspect that we are still dealing with now as there are many other aspects that are yet to be integrated into the entire architecture of Fintech.”
He noted that it is not only the banking sector that requires the services of Fintech providers, adding that that insurance, pension schemes, medical services, oil and gas and even agriculture require Fintech to drive them. “There is huge potential yet untapped that can help to move the entire system forward to new stage of development.”
Atanda expressed optimism that Nigeria can lead the entire world by being at the forefront of Fintech, providing veritable model for others to follow, saying “many things will still shape and re-shape the future we see before us. We should be ready to be part and indeed at the forefront of the global movement in Fintech space.”