The banking system in Africa is undergoing a major transformation due to the onset of digitization. The top emerging trends within the African market that have come forward over the last few years are mobile banking, digital-only banking and rise in fintechs. There is huge increase in the need to strengthen compliance and to incorporate systems to tackle the ever-increasing risk of financial cybercrimes.
The African banking market is among the fastest growing markets in the world and can be considered a hotbed for innovation. The retail banking sector is at the heart of growth with tremendous rise in the number of people who are getting banked. Africa has one of the most varied banking systems across the world, as different countries have different levels of maturity; African banking markets show stark differences in terms of size, infrastructure, banking penetration and use of digital.
At the Future Banking Forum we aim at discussing the emerging trends in the African markets while looking at solutions that can help advance the banking system in the region while considering the latest policies, procedures and regulations.
MEET OUR SPEAKERS
Osahor Chukwuma Covenant-Hero Head Of Digital Partnerships (Partnerships & Digital Capabilities Group) Access Bank PLC
John Obichie Head Retail Deposits Union Bank of Nigeria Plc
Osahon Akpata Group Head, Consumer Payments Eco Bank
Lavina Ramkissoon Chair and Co-founder Fintech Association South Africa
Kumaran Selvarajalu Senior General Manager Payments Banking Association South Africa (BASA)
Dr. Danny Zandamela Founder/CEO BiD-Me SA (Pty) Ltd
Tim Theuri Executive Head – Cybersecurity M-Pesa Africa
Sarah Muriuki Associate Director – Payments Technology Equity Group Holdings Ltd
Identify advances in regional banking trends, evolving financial technologies, increasing open banking importance, diversity in financial services and products, boost in telco involvement in the finance space, inclination towards financial inclusion
Regulatory policy changes and developments
Rapid wave of financial technologies such as Data Analytics, AI, Blockchain and RPA
New Open Banking legislation to increase competition and offer better products
Financial services provided by telcos to optimize costs
Adoption of digital banking for better customer service
The hustle and fierce contest among DMBs and payment platforms for control of retail banking market
Evaluation of current and future trends in the sector in Nigeria, particularly in fintech and digital banking
Recommendations for the traditional banks and fintech players on navigating the emerging trends and challenges in fintech