…Present awards to Moniepoint, Polybadan micro-finance bank, Kolomoni, others
Interswitch, one of Africa’s leading integrated payment and digital commerce companies, has called on microfinance banks, fintechs, and other financial institutions to leverage cutting-edge technologies to create optimum value for customers and drive sustainable growth.
This message took centre stage at the TechConnect 4.0 event, held at the Golden Tulip Hotel in Ibadan, Oyo State.
This was the central focus of discussions at the TechConnect 4.0 event, recently held at the Golden Tulip Hotel in Ibadan, Oyo State.
In his keynote address entitled, “Digital Transformation as a Strategy for Growth: Opportunities for MFBs, Fintechs, and OFIs,” Jonah Adams, Managing Director, Digital Infrastructure and Managed Services (Interswitch Systegra), represented by Tunji Ashiru, Vice President of Sales, Southwest, Interswitch, emphasised that digital transformation is essential for financial institutions aiming to drive growth, improve operational efficiency, and advance financial inclusion.
Ashiru highlighted how technologies such as AI, blockchain, and predictive analytics enable institutions to serve underserved communities with tailored financial solutions, while emphasising the need for strategic partnerships to build a robust and secure financial ecosystem.
“Digital transformation is no longer a choice, but a strategic imperative for financial institutions to thrive in today’s rapidly evolving landscape. Building a robust digital ecosystem requires collaboration, especially among OFIs, fintechs, and MFBs.
“In this interconnected digital space, OFIs can tap into the innovation of fintechs and the customer reach of MFBs to elevate service delivery and drive growth. Interswitch iscommitted to empowering these institutions to harness transformative technologies such as AI, blockchain, and predictive analytics to unlock new efficiencies, enrich customer experiences, and advance financial inclusion.
“Interswitch continues to be a catalyst for innovation across Nigeria’s financial landscape, developing solutions that make digital services more accessible, secure, and impactful.
“With a comprehensive suite of tools, from payment processing and secure gateways to digital identity solutions, we aim to support every institution on their digital journey towards sustainable growth and a more inclusive financial ecosystem,” Ashiru stated.
Also speaking at the summit, Akinola Ojo, Honourable Commissioner for Finance, Oyo State, delivered a keynote speech titled “Unlocking Growth Opportunities through Technology and Innovation.” Ojo affirmed that, with Interswitch’s support, the government is advancing financial inclusion across Oyo State by building a more secure and accessible financial ecosystem.
He added that, together, they are creating platforms to expand digital access to underserved communities and drive inclusive growth:
“In Oyo State, we are making intentional strides to embed technology within the financial frameworks that support our economic ecosystem. This involves implementing secure, efficient, and inclusive solutions that meet the unique needs of our citizens and businesses alike.
“Our partnership with Interswitch aims to expand financial access throughout the state, leveraging digital payment platforms and interoperable systems to streamline transactions for individuals, small businesses, and public institutions.
“This collaboration ensures that financial services are within reach for every citizen, irrespective of location or background,” said Ojo.
The event featured a panel session titled “The Synergetic Collaboration: Building Financial Resilience in the Financial Services Sector – Microfinance Banks, Fintechs, and Other Financial Institutions.”
Panellists, including key industry leaders, discussed the value of collaboration among commercial banks, MFBs, fintechs, and OFIs in building financial resilience.
They explored how cutting-edge solutions and innovation, often emerging from partnerships between fintechs and other financial institutions, help safeguard customer data and funds while advancing financial inclusion, particularly in underserved and rural areas.
In recognition of their outstanding performance and contributions to the financial sector, Interswitch presented awards to top-performing MFBs in West region Nigeria, including Moniepoint Microfinance Bank, Kolomoni Microfinance Bank, Polybadan Microfinance Bank, Omiye Microfinance Bank, and Grooming Microfinance Bank.
Other categories include top-performing innovation technology partners, for which Africa Mama ATM was recognized, and top-performing government institutions, including Ladoke Akintola University of Technology, Ondo State Internal Revenue Service, UNIOSUN Teaching Hospital, and Kwara State University.
The TechConnect 4.0 series, which began on October 17, 2024, in Enugu, has toured other cities, including Asaba and Abuja, and will culminate with a grand finale in Lagos, next Thursday, November 21, 2024.
The series continues to offer a vital platform for industry stakeholders to collaborate, innovate, and discuss key strategies that drive sustainable growth and financial inclusion across Africa’s rapidly evolving financial landscape.
