Business

November 17, 2023

CSCS seeks FinTech innovation for inclusive capital market

CSCS seeks FinTech innovation for inclusive capital market

         

By Peter Egwuatu

The Central Securities Clearing System (CSCS) Plc has canvassed for FinTech innovation to drive inclusivity within the capital market.

Speaking at  the Institute of Capital Market Registrars (ICMR) annual conference, themed “Navigating Nigeria’s Economic Realities: The Transformative Power of Technology in the Capital Market” Managing Director/CEO, CSCS, Mr. Haruna Jalo-Waziri, said that integration of online trading platforms, robo-advisors, blockchain, and AI-driven analytics, has democratized access to investing and enhanced transparency in the market.

He also noted that FinTech has transformed how trading, investing, and fundraising occur, fostering greater innovation and accessibility in the capital market landscape.

Represented by the Divisional Head, Business Technology & Digital Innovation, CSCS Plc, Mr. Tobe N. Nnadozie, Jalo-Waziri, stated: “The FinTech revolution has profoundly reshaped the landscape of capital markets. The integration of cutting-edge technologies, such as online trading platforms, robo-advisors, blockchain, and AI-driven analytics, has not only democratized access to investing but also streamlined processes, enhanced transparency, and fostered innovative investment opportunities.

 “This symbiotic relationship between FinTech and the capital market is pivotal for sustainable financial growth, offering individuals and businesses alike the means to efficiently navigate and leverage the intricacies of modern financial ecosystems.

“In other words, FinTech is transforming the landscape of financial services, and we believe that it holds the key to making our capital market more inclusive and accessible to all. We are committed to pioneering this transformation for the benefit of every individual investor in Nigeria.”

 Continuing, he said:  “Inclusivity is at the heart of our mission. We are leveraging the power of technology to provide financial access to all, from the experienced investor to the first-time market participant. This is how we envision a brighter and more equitable future for our capital market.”