Digital Banking: NIBSS Says Trust Critical To Growth

Trust has become increasingly critical to the growth and sustainability of digital banking as financial services migrate rapidly to mobile and digital platforms, the Nigeria Inter Bank Settlement System (NIBSS) has said.

The managing director and chief executive of NIBSS, Premier Oiwoh, stated this while delivering the keynote address at the 30th anniversary celebration of the Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) in Lagos.

Oiwoh said the evolution of digital banking had made trust a fundamental requirement for the continued growth of the financial system. “Banking is all about trust. Without trust, banking cannot stand,” he said.

The NIBSS boss spoke as regulators and industry leaders charged communication professionals in the banking sector to make credibility, clarity, innovation and ethical conduct central to the future of financial services.

Speaking at the event, President of ACAMB, Jide Sipe, said the association had, over the past three decades, played a critical role in helping banks communicate with the public, manage crises and protect institutional reputation.

“For 30 years, our members have stood between the banks and the public they serve. They explain policy, manage crises and protect reputations, often under intense pressure and in real time,” Sipe said.

He said ACAMB members had evolved from being gatekeepers of information to strategic drivers of growth, brand perception and customer relationships. “We have remained consistent, from gatekeepers to strategic drivers in actualising growth, positive brand perception, aligning business values to customer needs, customer satisfaction and loyalty,” he said.

Sipe said the contribution of communication professionals had, to a great extent, catalysed the growth trajectory of the financial sector, adding that the association had reasons to be proud of its achievements.

According to him, ACAMB would continue to strengthen the capacity of its members as the communications profession evolves, with greater emphasis on artificial intelligence, data and digital media, as well as mentorship for young professionals entering the industry.

Also speaking, Chairman of the occasion and 24th President of CIBN, Dele Alabi, described ACAMB’s 30 year journey as a demonstration of perseverance and professionalism, saying its contribution had made a far reaching impact on the financial services industry.

Alabi, who commended Sipe’s leadership and recalled their years together at Ecobank Group, said ACAMB had helped strengthen communication, reputation and trust across the banking sector. “Thirty years of shaping narratives and building trust reflects ACAMB’s critical role in strengthening communication, enhancing reputation and fostering trust across the financial services industry,” he said.

He urged communication professionals to embrace innovation without compromising ethics, in line with CIBN’s IMPACT vision, which is built around inclusion, membership, professionalism and ethical conduct, accountability, competences and skills, and technology.

In a goodwill message delivered on behalf of UBA Group Managing Director/CEO, Oliver Alawuba, the bank’s Group Head, Marketing and Corporate Communications, Alero Ladipo, commended ACAMB for creating a platform that brings communication professionals together across competing institutions.

She said while banks compete in the market, communication professionals had a shared responsibility to strengthen confidence in the banking industry and maintain public trust in the financial system.

“Competition may separate us in the market, but there are moments when the industry must speak with a shared sense of responsibility,” she added.