Sterling Drives Tech Partnerships For Improved Cybersecurity 

Sterling Financial Holdings Company, said it is actively driving collaboration and partnerships with regulators, infrastructure providers, operators, and other financial services providers to bolster the security of the Nigerian consumer and improve the safety of the financial ecosystem.

Executive director and group chief operating officer of Sterling Financial Holdings, Olayinka Oni stated this at the recently held Sterling Thought Leadership Series for Information Technology, themed The State of FI Consumer Security.

The session took place in Lagos and was attended by heads of information technology and security teams from banks, fintechs, consultancy firms, industry infrastructure providers and regulators such as KPMG NIBSS, Flutterwave, Wema Bank, Uniswitch and many more prominent players.

The event featured a keynote speech from KPMG, with two panel sessions on ‘Predicting The Future – Preparing For The Future of Cybercrime In The Age of AI’ and ‘Securing The Consumer: Strengthening Partnerships Between Operators & Law Enforcement’.

The first panel featured the executive director of the Nigerian Inter-Bank Settlement System (NIBSS), Aminu Maina, SVP at Flutterwave, Dotun Adekunle, Mayowa Owolabi of Uniswitch, with founder of AWABAH and renowned media personality, Tunji Andrews anchoring.

Oni said, “this session, which will be the first of many,will seek to enhance our collective knowledge and inspire collaborative endeavours aimed at fortifying the digital realm, especially as an increasing number of customers turn to digital channels for value delivery.”

He underscored how this platform facilitates the exchange of ideas among thought leaders, challenges traditional norms, and charts a course toward a more secure digital environment, further describing the event as a platform to anticipate the evolving threats, adapt strategies, and promote a safer digital world marked by technological advancements and heightened cyber threats.

According to Oni, this gathering represents a convergence of ideas, experiences, and visions that will drive advancements in securing the digital finance industry as our contributions and eventual decisions will have a direct impact on consumer rights, trust, and the continuity of our businesses.

He added that every organisation participating directly acknowledges the evolving threats faced by operators and thought leaders in this space, and that their presence and contribution shows that they view themselves as more than just service providers, but custodians of monetary value and trust.

Also, partner and head of the Cyber Unit arm of KPMG Nigeria’s Risk Consulting, Mr. John Anyanwu noted that disruptive technologies were already more prevalent and rapidly transforming every aspect of the world.

Anyanwu pointed out that this transformation was driven by the imperative to meet customer expectations, provide personalised and empathetic experiences.

However, Anyanwu cautioned that despite the numerous benefits of adopting the latest technologies, it also brought risks and concerns, including infrastructure vulnerabilities, data privacy, fraud risks, third-party risks and the need for education and awareness.

He emphasised the need for collaborative efforts among operators to address these concerns through initiatives such as cybersecurity education and awareness, cyber resilience, third-party risk management and safeguarding customer data privacy.