To survive the “next normal”, organisations have been encouraged to position themselves for global competitiveness by breaking new grounds, this was according to the President/Chairman of Council, The Chartered Institute of Bankers of Nigeria (CIBN), Bayo Olugbemi.
“Individuals and organisations, to survive the Next Normal you must break new grounds and position yourself for global competitiveness,” the CIBN boss said.
Olugbemi said this at the CIBN 2021 Graduates’ Induction and Prize Awards Day ceremony, noting the importance of embracing technology for the delivery of services to customers.
He urged companies to leverage technology to create “bespoke products” that will satisfy the ever-changing needs of their customers.
Olugbemi said, “The pandemic has accelerated the pace of digital transformation, as such, the future which was anticipated would come in some years’ time is now here with us. Consequently, businesses now leverage more than ever on technology to deliver products and services to customers at their convenience.
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“Technological advancements such as Artificial Intelligence, Robotics, Machine learning, Coding and Programming, Blockchain, Cloud computing etc are being used to develop unique and bespoke products suited to customers changing needs.
“Financial innovations are also employed as viable platforms to drive economic recovery, financial inclusion, foster green/ethical financing and overall transformation of the ecosystem.
“The Chartered Institute of Bankers in recognition of this fact had embarked on several initiatives to ensure that our members are future-ready. Specifically, the Institute in its forward-looking outlook reviewed the syllabus of its Banking Professional Examinations to ensure its contemporary and covers emerging issues in the banking and finance landscape.
“The new syllabus was launched on March 31, 2021. With this development, we are certain that we are producing future forward bankers who are equipped with knowledge and skills required to function in this new dispensation.
“We have also relaunched the CIBN Mentoring Scheme with a view to building the capacity of young practitioners in the banking and finance industry thereby strengthening the talent pipeline into senior leadership roles.
“This way, we are securing the future of the industry whilst ensuring safety and soundness of the financial services industry.”
