By Cynthia Alo

Creating a successful payment ecosystem that protects consumers and enables businesses to thrive requires that all stakeholders including regulators work together towards strengthening consumers’ trust.

Flutterwave’s Head of Risk, Africa, Emmanuel Efenure, who stated this said this while participating as a panelist at the annual conference of the Committee of e-Business Industry Heads (CeBIH), also said that fintech companies and banks are in the business of trust building as they build financial solutions that enable payments.

Other panelists at the panel session were Niyi Toluwalope, CEO of eTranzact, ably represented by the Head of Risk and Information Management, Edward Onyenweaku; and Griffith Ehebha, Executive Vice President, Risk and Information Security at Interswitch Group.

The panel discussion focused on “The Fintech Ecosystem–Perspective on Fraud.” 

Formed in 2008, CeBIH seeks to achieve the primary objective of promoting electronic banking services in line with global practices by serving as a forum for Heads of e-Business/e-Payments in Nigerian deposit-money banks to share ideas and experiences. This year’s event, which had Flutterwave as a premium sponsor, shows the company’s renewed commitment to create a safe and secure digital payments ecosystem for all Nigerians.

Efenure further stated: “Fraud is real, and the industry must understand that. The reality is that irrespective of whether you are a bank or a fintech, you are not immune”.