Eastern Africa BFSI Summit 2021: Digital Transformation Accelerates Open Banking Ecosystem

Business leaders and ICT experts from Eastern Africa and the globe will convene for the Eastern Africa BFSI Summit 2021, an offline event to unpack the opportunities of digital transformation for African financial industry. The event will highlight the changes, challenges and opportunities in the post-epidemic era and ways to accelerate financial digital transformation by leveraging the latest ICT solutions.

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Digital Transformation Accelerates Open Banking Ecosystem

The pandemic has brought great changes to the way organizations and enterprises run. Following the effects of the pandemic, digital transformation has become one of the necessities for enterprises. As industries upgrade and converge, the financial services sector is also undergoing transformation  with operations moving to the cloud powered by an ecosystem of connected devices, constructed for all scenarios.

Digital transformation has revolutionized to the financial industry in Eastern Africa. Mobile money is without doubt the most remarkable example and preferred way to make payments both for the banked and unbanked due to its safety and unmatched convenience. According to a recent report by Geopoll, Kenya leads globally in the adoption of mobile money services with at least 50% of Kenya’s GDP flowing through mobile money. Additionally, an official report released by Central Bank of Kenya, indicated that over 80% of the Kenyan population have access to financial services and with over 67 million registered mobile money accounts. Hardly can we achieve this amazing financial inclusion without the support of financial digital transformation.

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The pandemic is pushing the financial industry to the next new era. It is important for leaders within the financial sector to stay one step ahead and understand the challenges the industry is facing or will be facing in the near future. They should focus on addressing the following areas: How to accelerate digital and intelligent convergence to create a truly agile platform? How to enhance the safe and secure transfer of data and unlock the potential value of it? How to build an open ecosystem for all scenarios, unlocking scenario-based financial services?

In order to answer these questions and much more and to bring in-depth insights on leveraging on the latest ICT technology tailored for the success of the financial industry in the post-epidemic era, Huawei will hold the Eastern Africa BFSI Summit 2021 In attendance will be industry and business leaders ready to explore the industry’s latest trends and insights to succeed in the new era!

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