By Kingsley I. Ilechukwu, Bureau Chief, South West
All is now set for the maiden edition of Payments Forum Nigeria (PAFON 1.0) to be held tomorrow, Thursday, March 21, 2024 at Oriental Hotel, Lekki, Lagos State, south west, Nigeria, at 9am.
The Payments Forum Nigeria is a cross-industry platform focused on addressing issues that require broad cooperation and coordination across many constituents in the payments industry.
PAFON 1.0 will provide participants with inside-look at the industry, offering perspectives from key stakeholders, including payment networks, technology innovators, leading merchants, issuers, acquirers and payment processors.
Participation is free; however, preregistration can be done via the link: https://bit.ly/4c4N19H.
Speaker Faculty
Director, Payments System Management, Central Bank of Nigeria (CBN) Chibuzo Efobi will deliver the keynote address, while Keynote Presentation will be delivered by Chairman, Committee of Chief Information Security Officers of Nigerian Financial institutions (CCISONFI) Festus Amede,.
Other speakers lined up for PAFON 1.0 include: Chief Compliance Officer, Moniepoint MFB Ikenna Ndugbu,; Chief Visionary Officer (CVO), Digital Encode Limited Dr. Adewale Peter Obadare,; Sales Director at inq. Digital Nigeria Limited Peter Evbota; Chief Solutions Officer, Cybervergent Gbolabo Awelewa; National President of AMMBAN, Fasasi Atanda amongst others.
Throughout the years, the finance world has shifted into something much more than just banking and big corporations.
Blockchain and the FinTech society have managed to create a new world that is much more inclusive, and full of opportunities.
Based on a report by Gartner, by 2024, 40 per cent of privacy compliance technology will rely on AI, up from 5 per cent in 2019, and by 2025, 60 per cent of large organizations will use at least one privacy-enhancing computation technique in analytics, business intelligence, or cloud computing, and financial services industry is no exempted.
For instance, effective April 2024, Nigerian financial institutions will be mandated to implement stricter Know Your Customer (KYC) measures, requiring all customers to provide their Bank Verification Number or a national identification number (NIN) for account or wallet opening, following a circular by the Central Bank of Nigeria.
“Our goal is to enable information exchange and knowledge sharing on key industry insights issues amongst key stakeholders, with the objective of ensuring a collaborative and proactive approach to push for policies that enable growth, tackling/mitigating fraud and limiting occurrences and losses”, said the co-founder of TechCastle Foundation, organisers of Payment Forum Nigeria (PfN) Chike Onwuegbuchi.
Mr. Onwuegbuchi said that the Forum was driven by the reasons to; “educate and inform financial service players and other stakeholders on various issues and trends (both locally and globally); proactively share data/information amongst banks, Fintechs and other service providers, to enable prompt responses to prevent and/or limit (customer-related) losses; and discuss key Payments security trends”.
The forum is organised by TechCastle Foundation and sponsored by: Moniepoint, Digital Encode Limited, Cybervergent, Payble, inq. Digital Nigeria Limited, with support from the Central Bank of Nigeria (CBN).
