Stakeholders in the financial services sector have said that Nigeria would not be competitive enough in the global market if it did not fully embrace financial inclusion.

They argued that creating a future for effective service delivery was the way to go to address financial inclusion challenges. Co-founder and Chief Executive Officer of Qore, a banking-as-a-service platform provider, Emeka Emetarom, said this, during its inaugural Nexus 2023, a transformative customer experience to showcase its innovative suite of software solutions and the future of technology for financial services.

He said the event was aimed at empowering leaders of Qore’s existing and potential financial institution clients by providing them with invaluable insights to craft strategies for growth and expansion in the evolving digital landscape.

According to him, the target is to move Nigeria from third world to first in digitisation. Showcasing its product offerings, Emetarom said it encompasses digital core banking automation, omnichannel self-service solutions, lending automation, card issuance automation and merchant services/agent banking solutions.

The firm’s Chief Operating Officer and co-founder, Mudiaga Umukoro, announced the company’s plans to roll out an enterprise-grade core banking system, targeted at commercial banks.

He said the move was positioned to break the stranglehold that foreign core banking software providers, the likes of Infosys, Temenos, and Oracle, have on commercial banks.

In his presentation, Mudiaga stated that the decision to provide an alternative to the incumbents servicing the commercial bank space resulted from a desire to spare the country needless foreign exchange outflows on account of payments for solutions that have better homegrown alternatives.