Wednesday, June 20, 2007

ICT Africa to host Finance-IT seminar

Leading Information and Communications Technology (ICT) content provider, ICT Africa has announced its plan to host Finance and Information Technology Summit (FITS) in Lagos, with theme, “Seamless IT integration in post – Consolidation Era.”

Managing Consultant, ICT Africa, Mr. Don Pedro Aganbi who disclosed this said that the summit has been designed to create an interface between professionals in the nation’s ICT sector and their counterparts in the finance and banking industry.

He also said that apart from the conference aspect of the event, there would be exhibition to enable participants exhibit their offerings to the populace.

He said the choice of the theme was to facilitate opportunity to review progress made in IT integration on post-consolidation and to chart a new course for the future.

“The massive investments in ICT by banks following the successful consolidation of the banking sector indicates the high level of faith in IT products and solutions to improve productivity and boost the bottom line,” he said.

According to him, the post consolidation era has been dogged by such issues as, systems audit and security, network security versus providing faster service, risks associated with online transaction, finding cost effective IT infrastructure to handle the new distributed network systems, power problems and data protection, data warehousing vis-à-vis Central Bank of Nigeria (CBN’s) new guidelines, systems reliability and availability, business continuity planning for IT disaster recovery, e-payment, secure deployment of ATMs and corporate governance among others.

The successful consolidation of the nation’s banking sector followed the 2004, 13–point reform agenda rolled out by the CBN with the prescription of minimum shareholders’ funds of N25 Billion.

This, he said, has led to the creation of 25 banks down from the previous 89, a process that has also precipitated massive investment in IT infrastructure by all the banks meant to improve service delivery and to gain competitive edge.

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