By Prince Osuagwu

Strategy, consulting, digital, technology and operations services and solutions provider, Accenture, has challenged the banks in Nigeria to improve their knowledge of digital technology to keep up with the pace of global banking.

The company says that the biggest challenge banking in Nigeria is facing is keeping up with the changes in digital technology, consumer expectations and governmental regulations and therefore bankers needed to show readiness to learn to be able to match that dynamism.

The company’s Country Managing Director Financial services, Toluleke Ademosun, said that the banking industry is evolving right now, requiring banks to navigate through significant challenges to not only maintain their profitability but to also increase their revenue and meet the customers dynamic demands.

Ademosun was speaking ahead of the Accenture Innovation Index 2018, where he said the company hopes to interact with top banking and financial technology executives while interrogating the survival of over 100 companies in the sector in a dynamic digital world.

According to her, “We believe, the biggest challenge banking in Nigeria is facing is keeping up with the changes in digital technology, consumer expectations and governmental regulations. Accenture has received a significant number of requests from banks asking for greater insight and assistance on Innovation in the first few months of 2016. And with a rapidly evolving ecosystem, banks must make innovation a part of their culture and rotate to the new.”

She noted that the rapid changes in the world are increasingly rewarding those who are innovating; adding that adoption of new ways of doing things is driving growth in companies, expanding opportunities in economies and increasing the quality of life in nations that embrace it.

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