Fintech solutions to SMEs challenge has received an uptick at the a conference tagged “Bringing SMEs into the Financial Services Network via Fintech.” It echoed not only from the keynote speaker, Biodun Adedipe, the founder and Chief Consultant, B Adedipe Associates Limited but other studies by international experts, bodies and panelists on the issue in view.
Broadening minds at the SuperNews Conference on Thursday at Ikeja, Lagos, Adedipe stated that fintech for SMEs addresses most of the problems associated with SMEs, especially in their relationship with traditional banking system.
Noting the array of issues SMEs grapple with, he said fintech has evolved to deal with the long list of deficiencies by introducing into the financial landscape the SME banking software
Re-echoing the description that fintech is the fusion of finance and technology, which has revolutionised the way we manage, invest, and access money, he reiterated that its adoption would grow SMEs significantly.
Sounding high on SME banking on the throes of fintech he said, “SME banking is a set of financial services custom-fitted for the smaller scale and specific needs of Small and Medium sized Enterprises SMEs”
Making the Fintech fitted Adedipe underlined would require the government and the financial system regulators treat fintech “as an important strategic part of the financial ecosystem not just to deepen financial inclusion, but to assure inclusive and sustainable economic growth.”
Emphasising shared responsibilities that fintech should adopt the financial expert said, “It is also important to mention that fintech operators should also maintain good faith, as the MSMEs grow with them.”
Citing the opinion of Remita on how fintech could raise the contributions of SMEs he recast, “As Nigeria continues to embrace digital transformation and foster innovation in the financial sector, the role of fintech in empowering SMEs will only grow in significance. With a young and dynamic entrepreneurial ecosystem, the demand for fintech solutions tailored for SMEs is expected to soar, driving further innovation and competition in the market.”
In the words of the Publisher/CEO SuperNews online, Ngozi Onyeakusi, “The confab is a learning opportunity designed to enhance awareness, deepen understanding of the participants on how SMEs can grow and sustain their businesses by embracing various financial services options including banking, capital market, pension and insurance.
The image in the featured picture, “L-R: Maureen Chigbo, President, Guild of Corporate Online Publishers (GOCOP); Olukayode Shode, Deputy Director, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN); Ngozi Onyeakusi, Publisher/CEO, SuperNews Nigeria; Dr. Abiodun Adedipe, keynote speaker and Managing Director/CEO, Biodun Adedipe & Associates Ltd; Yeye Modupe Dada, Chairman, Nigeria Association of Small and Medium Enterprises (NASME), Lagos State, Chapter, and Kasimu Kurfi Garba. Managing Director/CEO, APT Securities and Funds Limited, during the Nigeria SME’s Confab ’24 organised by The SuperNews Nigeria.
