9PSB boss calls for targeted content to accelerate financial inclusion

The Chief Executive Officer of 9PSB, Brankam Mracajac, has emphasised the need to pay close attention to content creation as an important factor in driving and accelerating financial inclusion in the country, stating that it is capable of enhancing the future of digital banking in the long-term.

Mracajac made this assertion while presenting a keynote address, with the theme, “Content Creation and Financial Inclusion; The Future of Digital Banking” at the Tech Summit Ogun 2022, which took place at the Olusegun Obasanjo Presidential Library Abeokuta, Ogun State, recently.

According to her, while there are ongoing efforts to support the country’s financial inclusion drive, a lot more rest on formulating tailoured strategies that address specific needs.

“Providing access to the banking agents and touch points, across the country is happening as we speak; payment service banks, microfinance banks, and FinTech companies are all working on this. But will this be enough?  Will the access to digital banks change the mindset of Nigerians in rural areas of the country and be enough to drive the transition from cash to cashless society?” she questioned.

Proffering the way forward, Mracajac stressed the need to provide financial literacy through content that speaks to an average Nigerian in unserved rural areas of the country, stating that financial inclusion is a process, not just a point in time and space that we want to reach.

She added that developing content that speaks only to the already banked and mirroring the digital financial habits of those who are fully included and heavily banked, will not help to keep the newly on-boarded in the system long-term.

She stated: “While creating and delivering the content for financial inclusion, we need to have in mind the needs of its beneficiaries, the targeted end-users of the financial services who are currently underservedand the only sustainable way is that we join our forces and create the content – apps and services that will address the specific needs of a farmer in Benue, market women in Onitsha, trader in Kano, fisherman in Delta, and the woman selling ofada rice in Ogun State.”

Speaking further, she noted that, to drive the offline individuals and MSMEs from cash to cashless, from analog to digital and from informal to formal, content creators need to focus on two major goals; one, to deliver relevant and on-point digital financial literacy content, educating people about the principles, ways, modules, and benefits of banking. The second one, she stated, is needed for sustainable Financial inclusion: delivery of digital banking services that are a reflection of the lifestyle of the currently unbanked and underserved population.

She called on all stakeholders within the financial ecosystem, including content creators to work collectively to develop and implement a digital content strategy for the unbanked to move the financial inclusion needle and ultimately advance the economy, society and improve life of every Nigerian.