Former deputy governor of the central bank of Nigeria, Dr Serah Alade wants accountants to equip themselves with requisite financial technology (Fintech) Skills to function well in the present day dynamic world.
Dr Alade spoke at the annual dinner of the institute of chartered accountants of Nigeria
Financial technology is broadly defined as any technological innovation in financial services.Those engaged in the industry develop new technologies to disrupt traditional markets.
Fintech companies utilise technology as widely available as payment apps to more complex software applications such as artificial intelligence and big data.
Discussions at the gathering looked critically at the roles of accountants in the developing world of Fintech.
Stakeholders at the gathering believe that there is need for accountants to equip themselves with digital skills to enhance information, technology knowledge sharing and financial service delivery to firms and individuals.
The 2014 prediction of The economist states that accountants and auditors were one of the top three professionals most likely to be replaced by robots in the next 20 years, hence there is need to improve standards at all fronts.