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Home Features Partners

#NFW23: 9PSB; Bridging Financial Inclusion Gap Through Resilience and Innovation

by Techeconomy
October 30, 2023
in Partners
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9PSB at #NFW23
L-R: Kunle Isiaka, Head, Sales & Distribution, 9PSB; Inemesit Ekong, Team Lead, Marketing Communications, 9PSB; Dr. Babatunde Obrimah, Conference Director, Nigeria Fintech Week, and Akeem Salam, Head, Products & Innovations, 9PSB, during the Nigeria Fintech Week recently in Lagos.

L-R: Kunle Isiaka, Head, Sales & Distribution, 9PSB; Inemesit Ekong, Team Lead, Marketing Communications, 9PSB; Dr. Babatunde Obrimah, Conference Director, Nigeria Fintech Week, and Akeem Salam, Head, Products & Innovations, 9PSB, during the Nigeria Fintech Week recently in Lagos.

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9 Payment Service Bank (9PSB), Nigeria’s foremost digital payment service bank focused on financial inclusion, participated at the recently held Nigeria Fintech Week (#NFW23), alongside other industry players.

This year’s edition was themed: ‘Fintech: Resilience, Innovation & Diversification.’

Akeem Salam, the Head of Business Development and Strategy, 9PSB,  while delivering a paper titled: ‘Financial Inclusion: Bridging the Gap Through Resilience and Innovation,’ noted that 9PSB works relentlessly in fulfilling its primary mandate from CBN – driving financial inclusion.

9PSB at #NFW23
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Akeem Salam, Head, Products & Innovations, 9PSB, making a presentation at the Nigeria Fintech Week recently in Lagos.

Highlighting the major barriers to financial inclusion, Salam stated, “There are many barriers to financial inclusion, however, the major barriers are geological distance, high cost of services, gender and age discrimination, lack of trust and cumbersome requirements. Many financially excluded individuals do not trust the system. Trust is built through education. This is why 9PSB partners with government bodies to educate the financially excluded through empowerment programmes.

On changing the narrative with collaboration and innovation, Salam noted that the gap can be bridged through resilience and innovation, branchless banking, women/youth empowerment, financial literacy, and the harmonization of ‘Know Your Customer’ (KYC) databases.

“At 9PSB, we understand the need to do things differently. We collaborate with other fintechs to open new markets and further deepen financial inclusion which is in line with our primary mandate. 9PSB is still open to more collaborations, which exist amongst competitors. These collaborations will foster financial inclusion through financial literacy,” he added.

9PSB
9PSB team and FintechNGR team at #NFW23

The Nigeria Fintech Week is an annual event dedicated to bringing together industry leaders, innovators, and stakeholders in the financial and technology sectors.

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