Heritage Bank seeks banks, Fintechs’ collaboration on financial inclusion

Heritage Bank Plc, on Monday said there was the need for sustained collaboration between banks and financial technology companies (fintechs).

The bank said in Lagos that it would support the Central Bank of Nigeria’s (CBN) drive for financial inclusion and promote economic growth.

Its Managing Director, Mr Ifie Sekibo, said that over the years, the bank had developed solutions to promote financial inclusion.

Sekibo said the bank had taken some steps in boosting the CBN’s initiative of reducing the numbers of unbanked Nigerians in the country.

He added that Heritage Bank had been offering financial services to the nooks and crannies of Nigeria, thereby providing access to the under-served markets.

“We all agree that our target is to achieve acceleration of financial inclusion. Those who are financially excluded are majorly technologically excluded.

“That means that we cannot push financial inclusion if we do not also push technology inclusion,” Sekibo said in a statement.

We believe that by partnering fintechs, the financial services industry will push for inclusion and improve the economy.

“That is because the financially excluded persons, actually constitute a gap in the financial system and there is no way we can create a perfect economy except we bring all these people on board.

“Another issue is that the older generation are averse to technology because they have not been exposed to it and the fear of fraud,” he said.