The Chartered Institute of Bankers of Nigeria (CIBN) says it is partnering with the Association of Corporate Affairs Managers of Banks (ACAMB) to bridge the gap in the perception and reputation management in Nigeria’s banking sector.

This was revealed at the third ACAMB Stakeholders Conference 2024 held in Lagos on Thursday with the theme ‘Building Bridges: Collaborative Solutions for a Trusted Banking and Financial Services Experience’.

Professor Pius Olanrewaju, the newly inaugurated President of CIBN, vowed to work with the ACAMB to improve the experience of bank customers.

He also highlighted how collaboration between the two groups can further propel the banking industry, saying, “Building brand loyalty: marketing and communications professionals are often the first point of contact with the bank and contribute immensely towards building brand loyalty. Positive engagements can result in customers sticking with the same bank over many years while negative or below-par communication standards could drive them away.

“Revenue Generation: As previously mentioned, the first point of contact potential customers have with the bank is usually with marketing professionals. You drive awareness of the bank’s brand as well as the goods and services available.

Your style of communication and how you market the product or service to a given audience could determine the success of that product.”

According to the CIBN president, it could attract or repel potential customers, adding that the more customers banks’ spokespersons attract, the more revenue the banks make.

“In recent times, digital marketing particularly has evolved into an indispensable engine for revenue generation and achievement of long-term strategies. True professionals in this field understand their customer’s ever-evolving tastes and work with the leadership of the bank to tailor services to meet those specific needs.

“This aligns with the long-term strategy of the bank to build trust and reliability. These professionals also safeguard to the best of their ability the reputation of the bank by engaging the public regarding negative reviews and promoting positive developments initiated by the bank.”

He added, “Ultimately, it is important to understand that our industry thrives on trust. It is the invisible force that drives customer loyalty, investor confidence, and the overall stability of our financial system. However, trust is not a given; it is earned through consistent, transparent, and ethical practices. A strong handshake between the bankers and the communications and marketing professionals will go a long way in building this trust while at the same time offering top-notch banking services.”

Earlier in his opening address, the President of ACAMB, Rasheed Bolarinwa, said the conference served as a forum to address and resolve key consumer issues while providing a holistic understanding of Nigeria’s banking and financial services landscape.

“We acknowledge the symbiotic relationships that exist among the Central Bank of Nigeria, Deposit Money Banks other financial institutions and regulators, and vital players in the Insurance and Pension industry, including NAICOM and PENCOM, as well as consumer protection agencies and the Nigeria Inter-Bank Settlement System.

“This conference aims to bridge the past, present, and future, fostering collaborative relationships, transparency, and innovation. It is a testament to our collective responsibility to address consumer concerns and cultivate an inclusive, resilient, and consumer-centric banking and financial services landscape in Nigeria,” he explained.