Nigerian banks have been urged to provide payment solutions that will not only facilitate efficient payment processes but equally shape the future of businesses in the country.
Chief Executive Officer, Diamond Bank Plc, Uzoma Dozie who gave the charge in a recently published article on his LinkedIn page. Titled “Five Key Learnings from Tech Turks”, explored key trends in his interviews with various digital entrepreneurs on Tech Turks – an online video series on Diamond TV.
According to himcommon trends in the series include, market readiness, the importance of having a vision, prioritising consumer awareness, leveraging technology and finding solutions to challenges with payments.
Commenting on Finding solutions to the common Challenge of Payments, Uzoma admits, “This was the one section that piqued my interest the most for three reasons: (a) How effectively were payments being carried out? (b) What are the challenges faced in terms of payments? And, (c) Is it possible for us at Diamond Bank to help? In a country where 80 per cent of all payments are made in cash, it is a major challenge for any technology inclined business to drive and induce people to make online payments. As Nkiru Balonwu of Spinlet explained.
It’s easy to get a week long or month long paid subscription from European/American countries using PayPal for instance, but that’s not the case with Nigeria, as people often don’t trust the concept of cashless transaction.”
Diamond Bank Plc is Nigeria’s fastest growing retail bank, leveraging innovation and technology to enhance customer experiences and drive financial inclusion in what it terms Beyond Banking.