Rising Influence Of Fintech Big Threat To Banks, Says Emefiele - Business (2)

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Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by chukzyfcbb: 8:01am On May 23, 2018

software is eating the world - Marc Andressen

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by skedman(m): 8:05am On May 23, 2018

bestman09:
This people want to start again. Do they want us to go backwards to the analogue era? Instead of fashioning out a better way to engage staffs, you are complaining about technology taking over. God help us

you have to look at the threat or challenges that will hinder the growth and development of your institution in order to find a solution when it eventually occur . That is planning .

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by MobilityExpress: 8:06am On May 23, 2018

obowunmi:
Lies. This is alarmist.

Fintech in Nigeria does not work without BANKS.

Actually, it’s very true. Fintechs in Nigeria are working without any paperwork and at lightning speed. But can you get a loan from any bank in Nigeria without having to pass through a mountain of paperwork and waiting many days or weeks or even months for approval? Fintechs are already giving out loans in a matter of minutes and a short registration and verification process of a matter of minutes. He’s right, they (banks) should be very very afraid of their future grin

2 Likes

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by wink2015(m): 8:08am On May 23, 2018

Because of the sleeping leaders we have in Nigeria everything seems to be a threat!

Time and tide wait for no man. Even in the street our mobile phone equipped with internet data services took over our CYBERCAFE rendering Business Centre and Photocopying centres jobless.

Our mobile phone is taking over journalism as only few people buy NEWSPAPER this days as you can read free news on the move from your mobile phone.

Most countries in the world will soon embrase E-GOVERNANCE and that will take food from the mouth of our GREEDY AND SLEEPING POLITICIANS! who are not prepared to moved the nation forward.

3 Likes

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by bizzibodi(m): 8:12am On May 23, 2018

obowunmi:

Fin tech simply means financial technology.

Its not a coin or crypto.

Or MMM

1 Like

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by Opetech(m): 8:13am On May 23, 2018

It is time for banks to compete or die!

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by wordcat(m): 8:15am On May 23, 2018

IamaNigerianGuy:

Check out how primitive our leadership is. Always against progress.
Emefiele is more concerned with protecting the banks than growing the economy and democratising access to finance.

Now it is crystal clear why Buhari is yet to "remove" the man cheesy

Birds of feathers they said flocks together

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by vineyardfarms: 8:25am On May 23, 2018

[quote author=gabzymedia post=67797027]The Central Bank of Nigeria (CBN) has identified the rising influence of Financial Technology (FinTech) firms in providing financial services to consumers as a big threat to banking.

CBN Governor Godwin Emefiele stated this in Lagos during the Chartered Institute of Bankers of Nigeria (CIBN) investiture of Uche Olowu as its 20th President/ Chairman Council.

Digital financial technology, or FinTech, and particularly the global spread of mobile phones, has facilitated access to financial services by hard-to-reach populations and small businesses at low cost and risk.

Emefiele said: “Banking has a common threat. The enterprise risk posed by FinTech is real and there is need to be at the forefront of sensitising the banking sector about the real threats posed by FinTech.”

MR EMEFIELE, THE SPIRIT ROBBER/THIEF HIRED TO CONIVED WITH BANKS TO STEAL, KILL AND EMPTY THE MASSES THROU FLEVIOUS CHARGER AND DEDUCTIONS. YOUR REWARD IS VERY NEAR

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by wingmanII: 8:31am On May 23, 2018

MobilityExpress:

Actually, it’s very true. Fintechs in Nigeria are working without any paperwork and at lightning speed. But can you get a loan from any bank in Nigeria without having to pass through a mountain of paperwork and waiting many days or weeks or even months for approval? Fintechs are already giving out loans in a matter of minutes and a short registration and verification process of a matter of minutes. He’s right, they (banks) should be very very afraid of their future

But the interest rates are pure thievery! Imagine paylater charging 20% interest per month.

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by IamaNigerianGuy(m): 8:39am On May 23, 2018

wordcat:

Now it is crystal clear why Buhari is yet to "remove" the man

Birds of feathers they said flocks together

Whether they want it or not, innovation will continue.

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by emperorblog(m): 8:47am On May 23, 2018

read cool and interesting story on
www.emperorblog.com.ng

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by Lekmusic: 8:47am On May 23, 2018

obowunmi:
Lies. This is alarmist.

Fintech in Nigeria does not work without BANKS.

You don't have a clear understanding of this. Simply put, Fintech companies are innovating new products in saving, lending etc. Surely this monies still has to be warehoused in banks. So yes they can't work without banks but know that fintech companies are eroding the profits of banks by sharing it with them.

This is just an angle to understand it quicker however.

1 Like

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by Nobody: 8:49am On May 23, 2018

Nancy2018:
Have you blamed jonathan today...

I just finished watchin' your video.
Were you the lady?

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by charain: 8:54am On May 23, 2018

MobilityExpress:

Actually, it’s very true. Fintechs in Nigeria are working without any paperwork and at lightning speed.

He said without banks not paperworks.
No fintech works in Nigeria without the banks.

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by charain: 8:56am On May 23, 2018

Lekmusic:

You don't have a clear understanding of this. Simply put, Fintech companies are innovating new products in saving, lending etc. Surely this monies still has to be warehoused in banks. So yes they can't work without banks but know that fintech companies are eroding the profits of banks by sharing it with them.

This is just an angle to understand it quicker however.

Can you list the Fintechs in Nigeria that are providing saving and lending services?

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by charain: 8:58am On May 23, 2018

wink2015:

Most countries in the world will soon embrase E-GOVERNANCE and that will take food from the mouth of our GREEDY AND SLEEPING POLITICIANS! who are not prepared to moved the nation forward.

That must be a joke. You can't remove humans from most activity.
Phones don't create or read news people do.

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by Ghost01(m): 9:06am On May 23, 2018

MobilityExpress:

Actually, it’s very true. Fintechs in Nigeria are working without any paperwork and at lightning speed. But can you get a loan from any bank in Nigeria without having to pass through a mountain of paperwork and waiting many days or weeks or even months for approval? Fintechs are already giving out loans in a matter of minutes and a short registration and verification process of a matter of minutes. He’s right, they (banks) should be very very afraid of their future

Ever heard of "Specta" by Sterling, and "Snap Cash" by Sterling? With these, you can obtain loans without paperwork, not even one, within minutes. The same goes for "Alat" by Wema, that allows you to open an account without filling any paper. With the Keystone Bank mobile application, you can contact your account officer from the comfort of your home. There's also "i-Invest" that allows you to buy T'bills on the Secondary Market without filling a single paper form. And there are many more like these by Banks in Nigeria. So Nigerian Banks are playing big within the FinTech space in the country. Mr Emefiele is just running his mouth is all. Personally, I'd like the next CBN Governor to be a FinTech expert, and not the regular economist we are used to.

1 Like

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by gabbie77: 9:21am On May 23, 2018

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by mrgreen4real(m): 9:27am On May 23, 2018

Hunter don dey fear bush meat

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by KratosCorp: 9:55am On May 23, 2018

I think the author of that article just misrepresented what the CBN boss said. Read the last paragraphs, you'd notice that the statement was meant to be a wake-up call to the banks to be more consumer centric and in touch with modern realities. Of course there could be an undertone of protectionism there too, but that's not the crux of the message as the writer tried to make it sound.

three:
.

Imagine the antidelluvian line of reasoning in an age such as this.

GEJ appointed this man CBN Governor

A travesty to National Financial Policy formulation and implementation...

Buhari and APC after screaming blue murder about monies transferred in the midst of the night from CBN have not for once accused the Governor because they are on the same side.

https://www.premiumtimesng.com/news/headlines/190306-exclusive-2015-polls-how-jonathan-govt-used-bullion-vans-to-cart-away-n67-2bn-cash-from-cbn.html

Fin-tech is rightly disrupting global finance and the best approach by Mr Governor is to hide one's head in the sand?

Na wah!

.

Can someone please pass the link below to Mr Governor?

https://www.forbes.com/sites/bernardmarr/2017/02/10/a-complete-beginners-guide-to-fintech-in-2017/

1 Like

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by Dollabiz: 10:02am On May 23, 2018

hmm

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by ThatHistoryGuy(m): 10:11am On May 23, 2018

obowunmi:

Fin tech simply means financial technology.

Its not a coin or crypto.

Crypto inclusive

2 Likes

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by banio: 12:45pm On May 23, 2018

Online banks abi online wallets are here to stay. Key into it on time, otherwise our banks will wake up one day and all their money has been transferred to an online wallet. I love online

1 Like

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by kinggSamuel(m): 1:44pm On May 23, 2018

Initially in the post i thought emefiele was only worried about the insecurity posed by fintech but later on i saw that he was more worried about the lessening number of customers in the banking halls. This is a great development. It makes banking easier. With ur smartphone u can do almost everything pertaining to ur account. The fintech should be encouraged and closely monitored for breaches and shady practices. Thats what will move our banking sector forward.

1 Like

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by Lorenzop: 2:14pm On May 23, 2018

abdulrazat:
Can someone elaborate on "Fintech" and how to invest in it right away?

AI,AR,VR, Blockchain is where the world is heading to, acquire these skills and become relevant in the next decade or so

If only people will invest in people to study tech or programming, Nigeria will be a better place, there are lots of abundant opportunities there

1 Like

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by CofOLandOfPeace(m): 2:56pm On May 23, 2018

Hahnemann:
This is Goodnews for democracy

Meanwhile anyone that knows how to order from eBay.co.UK should pls contact me for urgent employment.. Whatsapp@

Check our signature in blue here below and you will be better enlightened. You can contact us by clicking the WhatsApp Chat link...

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by Nobody: 3:33pm On May 23, 2018

One thing most people fail to realise is that the best Fintechs in Nigeria are actually banks. The reason is this the infrastructural challenges in country will strangulate any Fintech that wants to come into the sector, and Banks have the cash flow and the resources and also the infrastructure to play in the Fintech game. Examples are abound with Alat by Wema and Specter by sterling. With the craze by banks for going into branchless banking i forsee a future in Nigeria where bank will morph into Fintechs competing amongst each other for market share.

1 Like

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by abdulrazat(m): 3:45pm On May 23, 2018

I'm willing to learn if you can point me to the right direction, thanks. Awaiting your response.

Lorenzop:

AI,AR,VR, Blockchain is where the world is heading to, acquire these skills and become relevant in the next decade or so

If only people will invest in people to study tech or programming, Nigeria will be a better place, there are lots of abundant opportunities there

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by chukzyfcbb: 5:00pm On May 23, 2018

abdulrazat:
I'm willing to learn if you can point me to the right direction, thanks. Awaiting your response.

All you need is time, data and persistence because all info exist online. Visit YouTube or best visit udemy(online learning site) and get free videos on those

Re: Rising Influence Of Fintech Big Threat To Banks, Says Emefiele by Kabaka100: 6:30pm On May 23, 2018

bestman09:
This people want to start again. Do they want us to go backwards to the analogue era? Instead of fashioning out a better way to engage staffs, you are complaining about technology taking over. God help us

Don't mind this leader of one our backward institutions.
Instead of investing on human resources and hitech that can fit the modern trend he's just preaching his backward philosophy that will further leave the industry behind. I don't believe a man in position is saying something like this

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