KPMG Seeks More Collaboration Between Financial Institutions, Fintechs

• KPMG Seeks More Collaboration Between Financial Institutions, Fintechs

One of the leading providers of tax, audit and advisory services in Nigeria, KPMG has called for the partnership between financial institutions and Fintechs in order to bridge the gap between the growing need of customers, their user experience and the institutions as a whole.

This call was made at a one-day Fintech summit held in Lagos Nigeria.

According to them, this collaboration is important as it is the key to lending, getting information in the credit registry, getting connected to BVN amongst others, as it is important to have an innovative mind set, which should be open to collaboration.

Partner and Head, Financial Services Sector, KPMG, Mr. Ayo Othihiwa, noted that regulators needed to be accessible particularly to enable regulations as there are some fintech themes like the block chain which are very controversial.

He stated that: “The government is important as they need to understand that Fintechs bring value to the society and development to the nation as a whole. They need to roll out incentives in other to aid this space. They also need to support the Fintechs as they are fragile and still need nurturing.

“We believe if the incentives and regulations are right, this would bring significant investment to the economy.”