Stronger bank and fintech collaboration to achieve financial inclusion – Prudential Bank Executive Director

In a recent statement, the Executive Director of Prudential Bank highlighted the critical need for enhanced collaboration between banks and fintech companies to promote financial inclusion. This partnership is seen as essential in bridging the gap between traditional banking services and underserved populations. The director emphasized that integrating innovative technology from fintech firms with the established frameworks of traditional banks can create more accessible financial products tailored to meet diverse customer needs.

As digital transformation accelerates, he noted that such collaborations could streamline processes, reduce costs, and expand outreach to unbanked individuals. By leveraging fintech solutions, banks can offer personalized services that cater to specific demographics, ultimately fostering greater economic participation. The director called on industry stakeholders to prioritize cooperative efforts that harness both banking expertise and technological advancements. This approach not only addresses immediate challenges but also paves the way for sustainable growth in the financial sector, ensuring that everyone has access to essential financial services and opportunities for prosperity.