FinTech leaders gather in Nairobi to discuss finnovation in the banking sector

The event brings together international and regional FinTech experts and leaders to deliberate on the lessons and opportunities of leveraging FinTech to boost economic activities in Africa.

Finnovation Kenya 2019, which will be held on the 18th June 2019 at the Mövenpick Hotel Nairobi, will also see African pioneers interact with investors, government policymakers, entrepreneurs and leading bankers.

The event will also explore how major banks and financial institutions on the continent are addressing the digital transformation of financial services and how their own digital innovations are being shaped and accelerated as a result of the gathering momentum of FinTech disruptors, register at Finnovation Kenya 2019.

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Finnovation Kenya 2019 keynote speakers include Chris Principe, CEO of Solidus Global, Ltd and Publisher of FinFuture & Financial IT; Jeremy Awori, Managing Director Barclays Bank of Kenya Ltd; Billy Owino Chief Executive Officer TransUnion; Wyckliffe Shamiah, Director Market Operations of Capital Markets Authority;

Other notable speakers are; Timothy Nuy, Chief Executive Officer MyBucks; Declan Magero, Founding Partner of Afrinet Capital; Mumo Musembi, Group Chief Business Officer of Cellulant.

The opening keynote session will define directions on Aligning the Role of Government Policymakers, Banks, FinTech Innovators, Investors, Multilateral Agencies, MNOs and the Private Sector to Advance the FinTech Ecosystem in Africa.

Principe noted that the FinTech space in Africa is observing rapid advancement as innovative new financial services players disrupt the traditional modalities of banking across the continent.

“New technology, new ideas and new business models are producing new opportunities. The distinctions between telecom services providers, payments services providers and financial institutions are breaking down. In virtually all African countries, there are sufficient numbers of mobile phones ‐ which are not necessarily smartphones ‐ for previously unbanked people to have access to high quality financial services at low cost.,” said Principe.

He added that innovative companies are using Blockchain technology and crypto currencies to resolve fundamental problems such as lack of access to electricity and lack of access to global financial markets.

“Finnovation Africa highlights how FinTech is transforming Africa for the better, facilitating payments, boosting financial inclusion and developing new enterprises. However, the conference does much more than that, as it engages key stakeholders to reveal how the entire world is changing. In many ways, Africa is a FinTech leader, rather than a follower.”

Finnovation Kenya 2019 will also provide a platform to connect innovative start-ups with leading investors in the African FinTech space and the Wolves’ Den session is one of the most dynamic features of the event.

The Wolves’ Den enables innovative FinTech start-ups and trail-blazers to real-time test the positive impact of their solutions.

A panel representing savvy Investors/Venture Capitalists and seasoned African Fintech Pioneers will evaluate the business model of each chosen start‐up or trail‐blazer in a high-stress 10 minute “elevator pitch” to the “Wolves” who will ask the tough questions and provide the illuminating insights.

Speaking ahead of his participation in Finnovation Kenya 2019,  Victor Ndlovu, Country Manager/Senior Business Leader of Visa said that Kenya is at the forefront of leading that digital payments revolution.

“For us (card payments firms), that depends on how we push. With all these digital options, and considering Nairobi is the world capital for mobile payment innovation, Digital payments are preferred because of convenience, reduced transactional cost, and speed of execution — compared to manual or cash-handling processes,” explained Ndlovu.

“We monitor trends around and appreciate that East Africa has adopted the mobile more than it has adopted cards, so it actually becomes very effective to be able to reach that segment.

We are keen on being part of the everyday life of our customers. With the ever-changing face of monetary transactions: cards and online dealings, customers have become more tech savvy, decisive and particular about their overall experience while transacting.”

From the perspective of a leading banker, Jeremy Awori, Managing Director of Barclays Bank of Kenya Ltd, reinforced that “the rapid growth of FinTech on the continent is driving both the disruption and leapfrogging of legacy systems and is further accelerating the digital transformation of financial services across Africa.

As a bank, our innovation and digitization agenda is in top gear and is aimed at moving the bulk of transactions to channels such as mobile banking, Internet banking and agency banking in order to increase customer convenience. We have recently launched our pioneer virtual banking proposition, Timiza, which offers our customers a platform to conduct their financial transactions ranging from borrowing, saving, bill payments and funds transfer etc from the comfort of their mobile phones.”

Finnovation Kenya 2019 will take place at the Mövenpick Hotel Nairobi, Kenya on the 18th June 2019 and will gather all stakeholders and influencers in the African FinTech ecosystem, from innovative start-ups to banking powerhouses, representing the key markets across Africa and internationally.

Register for the Event At https://bit.ly/2HG4ZTL