Oceanic Bank’s strong commitment to extending financial services to the majority of unbanked Nigerians has resulted in it taking lead sponsor position in this year’s Aitec Banking & Payment Technologies Conference, which will have a major focus on “Transforming Access to Finance through Branchless Banking.”
Announcing the bank’s support for the conference at a recent press conference, Ade Asekun, head of Retail Banking Group, said that the conference matched the bank’s business and social objectives of providing low-cost banking services for the unbanked. “Oceanic is currently working out modalities to offer financial services beyond its current branch network through the use of advanced mobile and payment technologies. It is expected that this will drive its inclusive business in the semi-urban and rural areas. Through its entry into microfinance space, the bank plans to facilitate access to financial services to more than two million Nigerians currently unbanked or under-banked by the end of 2011.”
Already, Oceanic’s micro credit operations, targeting the active poor, have resulted in an unprecedented increase in number of microfinance customers (loan and deposit) from about 50 in March 2008 to about 400,000 today, resulting in one of the largest microfinance portfolios in Nigeria.
Asekun said that the bank had decided to sponsor the conference because it is going to play a vital role in educating the market and promoting the adoption of best practices in microfinance and mobile banking, as well as all other areas of retail banking.
Over 400 managers and professionals from the financial services sector are attending the 3-day event, which also includes an exhibition of international and local financial solution and equipment suppliers.
Sean Moroney, chairman of Aitec Africa, welcomed Oceanic’s support, emphasizing the great educational value the conference represented, with over 20 international experts travelling to Lagos to share their knowledge with Nigeria’s bankers. “In these hard times when training budgets have been slashed, we are offering a unique training opportunity at the banks’ own doorsteps. At very little cost, they can send teams of executives to gain knowledge that they can take back to their organizations for practical implementation.”
Modupe Ladipo, CEO of EFInA Nigeria, an NGO dedicated to enhancing financial services, said they and other partner organizations working in the financial services sector, were supporting the conference as an important platform to promote effective regulation and expansion of financial services in Nigeria.
