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Wednesday, February 07, 2018 

FinTech transforming banking and financial services in Africa

David McLean, President of Ethico Live


Nairobi, Kenya: Africa’s financial sector is in the midst of an exciting and profound transformation. 

The rapid growth of FinTech on the continent is driving the disruption and, in many cases, leapfrogging of legacy systems as innovators accelerate the digital transformation of financial services across Africa. 

This has further spurred the leading incumbent banks in Africa to more rapidly ramp-up their own innovative approaches to meet the financial needs of under-served markets across the continent.

FinTech players are increasingly becoming an important part of the fabric of Africa’s financial services industry. 

In addition, the leading banks on the continent are now harnessing innovative technology and are also collaborating with FinTech start-ups to better connect with under-served consumers, improve financial inclusion and provide a platform to scale much faster.

The hugely successful events in our Finnovation Africa Series hosted in Uganda and Ethiopia during 2017 saw more than 500 thought leaders, FinTech pioneers and bankers representing the foremost financial institutions from across the continent gather to address how FinTech can contribute to the positive and profitable transformation of financial services in Africa. 

Against this dynamic backdrop, Ethico Live announced the expansion of the series with the launch of Finnovation Africa: Kenya 2018, which will be held on the 31st of May 2018 at the Radisson Blu Nairobi. 

The event will seek to harness the FinTech revolution to boost strategic economic priorities such as financial inclusion and deepening – and how FinTech can make a positive and profitable difference in Africa.

With a focus on the most significant technologies driving the financial services paradigm shift, including Blockchain & Bitcoin, Open Banking & APIs, Payment innovations, and Mobile Money & Digital Wallets, Finnovation Kenya 2018 also features a number of innovative sessions such as The Wolves’ Den, Silicon Savannah: Tales of Financial and Technology Start-ups in Kenya, Founder’s PainPoints, Inside the Investor’s Mind, and live-on-stage interviews with international Finnovators and African FinTech pioneers.

Speaking at the announcement of the launch of Finnovation Kenya 2018, David McLean, President of Ethico Live, said that: “FinTech holds a particularly powerful promise for Africa especially as an enabler of key strategic priorities, such as financial inclusion and deepening. The impact of new disruptive financial technologies is well placed to be genuinely socially useful, meaningfully improving how ordinary people engage with financial services and therefore deliver broader-based positive economic outcomes across the continent. FinTech also sets the bar higher for incumbent banks in terms of their own innovation agendas as the 

leading banks internationally and in Africa seek to make digital profitable and explore collaboration opportunities with FinTech trail-blazers. We are very excited to be bringing Finnovation to the well-established and high-growth Kenyan market and look forward to progressing discussions on the digital transformation of financial services in Africa.”


By EABW REPORTER, Wednesday, February 07th, 2018