BUSINESS

ALP Seminar Series: Operators seek relevance in financial inclusion

&NewLine;<p class&equals;"wp-block-paragraph">&OpenCurlyDoubleQuote;The fast growing young population –115 million people below the age of 35&comma; exponential growth of mobile phone lines&comma; huge financial inclusion  potential are pertinent indicator of Fintech opportunity&period;”<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p class&equals;"wp-block-paragraph">This &nbsp&semi;candid&NewLine;observation by &nbsp&semi;Boye Ademola&comma; Partner&comma; KPMG&comma;&NewLine;US&comma; resonated&comma; once again&comma; at the June 20 Akindelano Legal Practitioners&comma; ALP&comma;&NewLine;Seminar Series which held at Oriental Hotel&comma; Lagos&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p class&equals;"wp-block-paragraph">The ALP annual forum is the law firm’s Corporate Social&NewLine;Responsibility&comma; CSR&comma; &OpenCurlyDoubleQuote;designed to evoke discourse regarding commercial and&NewLine;legal issues facing executives and decision makers&nbsp&semi; and stimulate innovative strategies and&NewLine;outline pragmatic solutions”<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p class&equals;"wp-block-paragraph">Themed &OpenCurlyDoubleQuote;The role of Fintech and digital finance in&NewLine;Nigeria’s economy&comma;” Fintech operators and agents-super and aggregators-in the&NewLine;digital payment and distribution chain&comma; outlined the already known challenges associated&NewLine;with Nigerian thorny business terrains and sought for solutions&period; <&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p class&equals;"wp-block-paragraph">Panelists&comma; made up of seasoned and tested hands&NewLine;unanimously advocated an improved data ecosystem even as Fintech promises&NewLine;better focus on women with a corresponding &OpenCurlyDoubleQuote;innovative service&period;”<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p class&equals;"wp-block-paragraph">Meanwhile&comma; &nbsp&semi;Fidelity Bank Plc has stated through its Group&NewLine;CEO&comma; Nnamdi Okonkwo&nbsp&semi; that &OpenCurlyDoubleQuote;under the&NewLine;banks’s five-year plan which was crafted in 2017 and commenced on January 1&comma;&NewLine;2018&comma; we got one of the big four consulting firms to do a full global analysis&NewLine;of Fintechs and how we can collaborate with them&period; <&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p class&equals;"wp-block-paragraph">Part of our engagement strategy is partnership&period; Through&NewLine;collaborating with a Fintech&comma; we migrated their entire transactions to the&NewLine;cloud&period; This has worked so efficiently well in the last one and half years&NewLine;without fail&comma;” Okonkwo said&period;<&sol;p>&NewLine;

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