In view of deepening fintech growth in Nigeria for international standard and inclusiveness, the Fintech Association of Nigeria is set to roll out fintech framework for the fintech ecosystem to create a robust synergy between industry players for industry and economic growth.
According to Taiwo Joda a member of the association, the roadmap will provide code of ethics and standard for fintech operation in the country.
Mr Joda who is also the CEO of Accion microfinance bank while speaking at an event organised by the Financial Inclusion Nigeria to mark this year’s financial inclusion week, informed that the roadmap will serve as a guide for potential fintech operators and provide a regulatory framework for regulatory bodies in checkmating the practice of financial technology in the financial ecosystem.
He identified effective collaboration between the traditional bank players and the fintech community as an effective way of deepening the scope of financial inclusion for national growth.
He said, “The Fintech Association of Nigeria under the leadership of Dr. Segun Aina in collaboration with the Security and Exchange Commission and other bodies came together for a document that is due for launch, it’s the future of fintech Nigeria.
“It’s on how to regulate and build a stronger ethics and corporate governance around the fintech industry, so that things can be done in an ethical manner.
“This framework will bring the fintech together with the banking institutions both the MfBs the DMBs to a common platform for collaboration to drive efficiency.’’
The bank executive said the framework will aid efficiency and drive effectiveness in the practice of fintech which according to him is a core pillar in accelerating financial inclusion in the country.
He tasked industry players to embrace financial literacy for the people in order to bring the excluded into the financial ecosystem.
He said the framework will be launched next week during the annual Nigeria Fintech Week programme.