Collaboration and Co-Innovation to top in CIO Fintech Summit 2018 agenda

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Laura Chite, CEO - CIO East Africa

The premier CIO Fintech Summit lined to host and average of 200+ industry leaders from the Banking industry, Insurance, Telcos and SACCOs on 29th and 30th May 2018 in Nairobi shall largely explore the immediate next steps purposed to enhance financial inclusion in all facets of the retail chain.

Themed, Collaboration and Co-Innovation in the Financial Services Industry, the summit  bringing together the Fintech industry players, policymakers, innovators, investors and regulatory authorities aims to explore the potential of blockchain technology in today’s fast improving financial sector.

“The summit will be a big win for both delegates and sponsors considering that Kenya has become a reference of the financial services industry taking the leap in digitising processes, securing critical assets and analysing data that’s making tactical decisions to better both public and business enterprises,”

Laura Chite, CEO, CIO East Africa.

“The summit will be a big win for delegates considering that Kenya has become a reference of the financial services industry since the country took a deliberate leap in digitising processes, securing critical assets and analysing data that’s helping organizations to make tactical decisions to better both public and business enterprises,” said Laura Chite, CEO, CIO East Africa.

The Summit is organised against the back-drop of Fintech emerging as a special category of human innovation requiring a full ecosystem of co-development across technological, legal, regulatory, security and even psychological and conceptual realms added Chite.

The forward-thinkers

The eagerly awaited summit is lined to be a thought-provocative session with Kenya’s most respected forward-thinkers and leaders from the financial services industry.

The experts’ are expected to explore the immediate next steps to drive the industry-wide digital transformation to impact the economy in the shortest run said Harry Hare, Chairman CIO East Africa.

“The financial services industry is banking on digital transformation to interact with consumers in new and exciting ways; empower professionals with new insights and tools; help businesses operate more efficiently; and open new opportunities never thought possible,” said Hare while calling on all CIOs and IT line managers to secure their space at the summit.

Digitised Transactions

Against this background, we take in account the instrumental role played by varied industry players to regulate the ICT industry as the country continues to steadily move towards digitised transactions.

In financial services arena, technology continues to serve not only as an enabler but a catalyst for modernisation said Laura adding that for one to marrying fresh tools with decades-old processes has proven disruptive especially among the FSIs in the Banking, SACCOs, Telcos and Insurance establishments.

Processes that were once completed over days are now executed on-the-go, but the critical mass is yet to access the full benefits of this disrupted market.

Synergy and coordination

The commitment to be part of next-level fintech journey, which promises to offer the synergy needed for coordination between deployment of smart capital, rollout of smart technologies and communication across the ecosystem ranging from policy makers, bankers, SACCOs, Insurers is encouraging, added Chite.

Among the notable speakers expected at the summit include the Central Bank Governor Dr. Patrick Ngugi Njoroge, Dr. Bitange Ndemo, Chairman of Kenya Blockchain and Artificial Intelligence Taskforce.

Other speakers to flank the session as speakers are Paul Ndichu CEO, Interswitch East Africa, Catherine Maraga, CIO – Sidian Bank, Laura Chite, CEO, CIO East Africa, Steve Njenga-CIO, Barclays Bank, Rohit Kumar, CIO I&M Bank, Ali Hussein – Principal, AHK Associates, Michael Mbuthia – CIO, IPSL and George Njuguna – CIO, HF Group.

It is encouraging that Fintech Summit 2018 is lined to assess the extent in which, banks, insurers, SACCOs are re-aligning to optimise their products to deliver user-centric services in the now widely digitised and disrupted financial market, said Dr. Bitange Ndemo, Chairman of Kenya Blockchain and Artificial Intelligence Taskforce.

Seamless business operations

Dr, Ndemo noted that technology has come a long way in the last few decades and has now stormed into the world of finance with a loud message of transformation. As such, he noted that fintech is an incredibly important topic for businesses not only in Kenya but worldwide, as it is changing the way they operate and, in many cases, making business operations cheaper.

“While there is no doubt that digitisation has over the last few years caused the banking, insurers and SACCO establishments to adjust their approach to deliver optimised services to customers, there is more for them to do to cope with the trends of fast evolving market,”

Dr. Bitange Ndemo, Chairman Blochain & AI Taskforce, Kenya

“SMEs can particularly benefit from various fintech developments, as they are the most at risk from funding issues and expenses,” asserted Dr. Ndemo stressing that times are long gone for any business to survive if they are still invoicing clients then sit back for a lengthy wait of between 30-120 days before receiving payment.

Loans should be given instantly and technology is facilitating that process. It can be incredibly frustrating for SMEs, who need cash to keep business operations flowing if major industry players do not make their operations seamless.

“While there is no doubt that digitisation has over the last few years caused the banking, insurers and SACCO establishments to adjust their approach to deliver optimised services to customers, there is more for them to do to cope with the trends of fast evolving market,” said Dr. Ndemo who is expected to speak at the Fintech Summit.

Today, despite the increased use of mobile and deliberate rollout of financial technologies, there are still millions of ‘mama mbogas’ (women selling groceries) and hundreds of thousands transport industry, popularly referred to as matatu in Kenya locked out of the progressive cashless transaction equation.

To register for the Fintech Summit 2018, click here.

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