Leverage technology, collaboration to repel encroachment – Akinola
By Felicia Nwosu
Nengi Akinola, Head, Marketing and Branding at FairMoney, has cautioned financial experts, customers and other stakeholders in the financial space to leverage technology and embrace collaboration with regulatory agencies to stave off the encroachment of unauthorized transactions by financial fraudsters.
The marketing and branding expert, who stated this in an exclusive interview with MARKETING EDGE, explained that the financial ecosystem can be protected by enhancing transactions with cutting-edge technology and also working collaboratively with financial regulators.
“Fintech has to collaborate with the regulatory agencies to be able to make sure there is a process where we are able to map out a path to easily curb a lot of these fraudulent transactions. The customers also need to be sensitized a lot more because sometimes, customers fall prey because they are not paying attention to details. They are very quick to give their data and other information that should be closely guided,” she said.
The communication expert urged brands to take advantage of the preventive measures made available and easy by technology through regulatory bodies to curb cybercrime and other various financial frauds in the ecosystem.
“In the fintech, we have regulators such as the Central Bank of Nigeria (CBN), the Federal Competition and Consumer Protection Commission (FCCPC) and some other players within the industry. Everyone has to play his or her role and that is the truth. The CBN just started a campaign called ‘confirm’, where it urges customers to confirm the handle of the social platform they are dealing with, and the particular entity they are also dealing with before they can disclose sensitive information. I believe that if we all play our part and support one another, overtime, we will be able to curb the spread of scam and a lot of all these illegal activities going on in the financial space,” Akinola added.
The financial brand builder noted that the emergence of innovative technologies will help to ensure a rapid innovation cycle for all the players in the sector, explaining that it will yield a new pool of customer segments into the fold of financial services and also help them to monitor their adspend.
“In terms of marketing spend, no brand wants to expend its budget without understanding the impact, and that is what technology does through data. With technology, we are able to know who our customers are, where they are and where to reach them; which is why it is imperative and indispensable to embrace it,” she concluded.
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