Financial technology companies must be regulated but these regulations should not in any way stifle their creativity to continue deepening financial inclusion, Oluseyi Ajagbule, one of the Executive Directors of Jethro, a software solution provider and system

 integration company, has said. “Anybody that money is entrusted on needs to be regulated because if you do not do that it might not be healthy for the economy. But coming with regulation should not limit the fintechs from providing the best of services to customers,” he said.
Speaking at the launch of Jethro Limited’s operations in Ghana, Mr. Ajagbule explained that regulations should be geared towards securing the technology behind these fintechs so that monies on their platforms are safe.
“Any product that is coming to the space of finance need to be well proven from the area of security and any fintech product that has not gone through quality control or assurance is not a quality fintech product, and thus not allowed to go onto the market,” he said.

BANKS must be innovative

Mr. Ajagbule urged banks to be innovative in order to stay relevant in such a fast growing and technologically backed financial sector. “The fintechs are competing with the banks and for the banks to be able to survive, they need to innovate. If you look at the way banks have been doing business, they have not been customer focused, ideally. They just give what they like to the customers and customers are not happy.
Now customers have realised that there are better ways of doing things and fintechs are making banks waking up,” he said.

What Jethro brings to Ghana

Jethro is a leading IT and system integration company with a client rostrum that includes some of the world’s largest financial institutions has chosen Ghana as the latest location for its ambitious expansion plans with the continent.

Headquartered in London, Jethro offers specialist IT services and products, which complement core banking solutions in Business Intelligence, Agency Banking Product, Integration of CBS(Core Banking System) to peripheral systems, Electronic Notification Solutions (Statements, SMS and email Alerts), Micro Lenders Mobile field collections management solution, CBS Security, amongst others.
Jethro has a reputation of delivering quality, robust, cost effective, and reliable product and services to its customers, which include several Teir 1, Teir 2 and microfinance institutions and has been involved in several Temenos T24 and T24-MCB implementations, support, upgrades, Quality Assurance, T24 Stabilization, Interface development and integration, Post-implementation reviews, CSB. Apart from the financial institutions, Jethro also provides management system solutions to the insurance, human resources, and other sectors.
To celebrate the launch of Jethro in Ghana, the company organised the event ‘Delivering Banking Innovation Through Technology’ today. Over 50 guests gathered at the Kempinski Hotel Gold Coast City Accra to learn more about digital transformation in banking and the world of analytics.
Commenting on the launch of a new branch office in Accra, Ghana, Jethro Chief Executive, Remi Babatunde, said: “The opening of a new office in Accra, Ghana is the latest addition to the continuous drive by Jethro to deliver excellence in all areas of our engagement with our clients. While we remain head quartered in London, we have chosen to serve Africa and our presence in Zimbabwe, Kenya, Nigeria and now Ghana is testimony to our drive to be closer to our clients as well as reduce the costs of our engagements”.