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Finance Experts  Advocate Increased Risk Mgt In Banks

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Finance experts in the banking sector have advocated an increase in the risk management system in the financial sector to ensure long term growth in the

Speaking at the Proshare analysts report on the reassessment of tier 1 banks, chief economist and managing editor, Proshare, Teslim Shitta Bey, disclosed that banking is becoming evolutionary with an improved version of technology in financial intermediation that will lead to financial adaptation.

While the report notes that the future of banking is technocentric with the increased use of artificial intelligence and machine learning becoming the cornerstone of competitive advantage, saying, to prevent future crises in the Nigerian Financial sector, policymakers must re-evaluate the banking framework and balance the need for economic growth.

Chief financial officer, Ecobank, Oyedeji Ibukun emphasised on risk management, capital risk in the financial sector and the role of the Basel III regulation on liquidity in the banking sector.

 

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