The Association of Corporate Affairs Managers of Banks (ACAMB) have concluded their Second Annual Conference, the event which was held at CIBN Bankers House, Lagos
The Theme of the Conference being ‘Marketing Financial Services in this Dynamic Times’ was brought to the fore and deliberated on by Industry Guru’s.
The Stakeholders gathered to brainstorm and take an in-depth look at the today’s financial marketing trends and the way forward in today’s world.
After various sessions, it was unanimously agreed that the key indicators affecting today’s trends are the macroeconomic headwinds which continues to define and redefine the financial market as well as other markets above board.
This Novel Conference Which was only introduced by ACAMB in August 2022, had Industry Captains gather at the same venue for the maiden edition which was tagged ‘Promoting a synergy between the Banking Industry and the Organised Private sector’ the aim of ACAMB at the time was to identify grey areas creating conflicts between the Financial Industry and the Private Sector with a resolve to identify a meeting point where all stakeholders could play their roles in the national economic growth. The success of the initial edition is why the Industry Operators were able to again gather this year 2023.
The President, Association of Corporate Affairs Managers of Banks (ACAMB) Mr. Rasheed Bolarinwa in his welcome address said the rate at which the Neo-Banks and Fintechs continue to transform the industry is a wake up call for the traditional financial institutions to keep up with the latest innovations in order to thrive and succeed.
The President went on to state that this Conference is an opportunity for Stakeholders of different quadrants of the Financial Service industry to discuss and share knowledge about latest trends and strategies in the Financial Marketing circles in the current fast paced financial global market.
James Agada one of the Speakers enlightened that using the word competition to refer to what exists between the Banks and the Finetechs would not be right because they actually compliment each other, with all players identifying where their strongest link is and holding on to it, whether it be deposits, lending, onboarding and more whatever the function is, it is used to grow income which are brought back to the bank.
Mr. Agada therefore believed that the synergy that exists between the Banks and the Finetechs is a kind of synergy where Collaboration, Cooperation, Growth and Excellence should be the watch words.
Speaking on the recent development in the Financial industry where one realised that digitalisation is the order of the day, identifying the dynamic landscape to operate is much more difficult and so speaking the right communication language to capture the target audience who are here, there and every where is an added task inspite of the fact the language must be spoken?
Steve Baba Eko an Advertising and Music Guru and founder of X3M Advertising simply dissected the challenge in just a few words, expressing that the Challenge facing the industry today lies in the fact that the Banks are all parading the same products and the zeal to create their own identity is dwindling.
He went went on to say that until a time when the banks decide to revolutionise their service experiences and disrupt itself before it gets distrupted, the narrative would remain the same because the goal post has been shifted and audience changed, this paradigm shift requires that a simultaneous shift be made by the Financial industry.
Tolu Ogundipe, Group Head Premium Bank speaking on process insisted that in as much as the Banks have become a lot more customercentric, the importance of processes should not be de-emphasized to avoid honouring fraudulent requests. In other words Banking processes should never be sacrificed at the alter of Service.
In attendance were Captains of Industries, Brand and Communications Executives, the Media and Corporate Institutions.