MON, 09 NOV, 2020-theGBJournal- Access Bank has shown its commitment to advancing the frontiers of industry agnostic technological innovation across Africa with Nigeria in focus. This position is entrenched by Access Bank’s sponsorship of the Nigerian Fintech week 2020.
The week- long event sought to highlight FinTech as a solution to problems across different industries including health, agriculture and logistics.
Speaking at the event, Ade Bajomo, the Executive Director for Information Technology and Operations at Access Bank Plc, said, “Access Bank is committed to positively impacting lives and building the economy through technology. For years, the Bank has invested in several initiatives geared towards improving access to technological innovations while providing platforms for tech enthusiasts to innovate and make massive impact on the society.”
One of such innovation is Facepay which is a pioneer solution in Africa that captures the face of an individual and leverages same to grant access to financial services for the unbanked, make in-store payments seamlessly at merchant locations and subsequently build queue less branches.
Furthermore, Ade Bajomo spoke about how various Digital identity systems are leveraged across the world to provide economic inclusion for 1 Billion people who are estimated to lack access to financial services because they do not have a form of legally recognised Identity.
The foremost example was how India’s Aadhaar identity management programme which has 1.2 billion Indians has been leveraged for financial inclusion, direct beneficiary programmes, humanitarian assistance, AML compliance and cost savings in Government processes. He stated that Nigeria has a lot to learn from this and Access Bank is at the forefront of leveraging digital identity systems to promote economic inclusion.
Mr Bajomo also added that “By partnering with the Africa Fintech Foundry and sponsoring a momentous occasion like the Nigerian FinTech Week, the Bank is contributing to the strides that we are experiencing in the Fintech landscape and to the growth of the economy at large. This is done through thought leadership, acceleration and incubation of tech start-ups, hosting of Hackathons and delivering digital products tailored to the African market. Through these interventions, other sectors of the economy would be able to experience a 360-degree growth as well.”
Further cementing Access Bank’s involvement in the Fintech, Mr Ade Bajomo was inaugurated as the new President of FintechNGR at the 2020 AGM of the association. Speaking after his inauguration, he stated that he would work with members of the association and the industry to create solutions, employment, wealth and capacity, as well as position Nigeria as a leading market for global FinTech Innovation and Investment.
In his capacity as president, Mr Bajomo will be tasked with furthering the strategic mandate of the association to accelerate, connect and advocate with all stakeholders which includes Members of Fintech Association of Nigeria, innovators and Fintech thought leaders, techpreneurs, Venture capitalists, accelerators, the Regtech Community, other Fintech associations and other well meaning partners who can help the association realise its ambitions.
The weeklong event featured 20-product pitches and launches, 10-keynotes, 15-panels/presentations, 70+ speakers, 2000+ attendees, and promoted solutions for health, education, agriculture and advance insights around customer experience, digital skills, future of fintech, blockchain amongst others.
Fintech emerged as an organised sector from 2008 global financial meltdown and has become key enablers of innovation and disruption in the financial sector.
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