Trust is paramount in the fintech industry, and Uzoamaka outlined key elements in building and maintaining it during a question and answer session after the panel session.
Summarising her words, Fincra focuses on ensuring the reliability of its systems, adhering to cybersecurity and data privacy standards.
Additionally, insurance of customers’ funds and regulatory relationships play crucial roles in instilling confidence.
“Ensuring the reliability of our systems is something that is at the core of what we do and just generally how people and businesses can ensure trust.
“Insurance of funds, setting up reliable systems, implementing and actually monitoring, because it’s one thing to implement standards and another to ensure continuous monitoring and governance around it.
“Regulatory relationships as well, customers want to know that they have some form of assurance or security; they want to know that this business I am entrusting my funds with has some relationship with regulators in case of any issue that happens; they know the regulator is aware that this business is happening and they can always leverage them just in case of anything.
“Those are the different ways that, as a business, we build trust and general businesses can also build trust as well.”