Innovation in ePaymentIfie Sekibo [MD/CEO, Heritage Bank

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Changing dynamics around us finally penetrated

banking. This is an IMPORTANT reality we all know

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Facts to Help

Total ePayment Volumes [Nigeria] grew from N18.1trn in 2012 to N35.1trn in 2014.

POS Transactions increased from N48b in 2012 to N312b in 2014 Instant Pay increased from N3.8trn in 2012 to 19.9trn in 2014 Over 105 million Mobile Phone Users in Nigeria Over 60m Nigerians do not have bank accounts but have phones Over 92% of banking transactions can be done without human

intervention Convenient Banking is the norm and differentiation can only

come via Innovation.

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Some Major Reasons for Change

Globalization Self Service Regulation

BASEL||CBN||NDIC||FDIC||AML||KYC

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ePayment is now a commodity, Innovative ePayment is the way to GO!

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What is Innovation?

Innovation is IDEAS + EXECUTION. Innovation is NOT necessarily invention Innovation is NOT imagination Ideas are NOT good enough,

IMPLEMENTATION is critical

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Trick Number 1

Trick Number 2

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“If you always do what you’ve

always done, you’ll always get

what you’ve always got.”

Henry Ford

Trick Number 3

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EXECUTION is KEY!

Trick Number 4

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We are Heritage

We have an History of Innovative Banking We bounced back on the waves on Innovative Thinking We thrive on an Innovative Ecosystem We encourage and deploy Innovative Banking Platforms We transformed the Interior of Banking Halls We are the 1st Bank without an in-house Data Center We were the 1st to deploy Deposit Machines in all Branches We launched the 1st real Transparent MasterCard in Nigeria We transformed SME Banking And many more………