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 a transformation — with operations moving to the cloud-powered by an ecosystem of connected devices, constructed for all scenarios.
For instance, digital transformation has revolutionized 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 the 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.
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 its potential value? How to build an open ecosystem for all scenarios, unlocking scenario-based financial services?
To answer these questions and much more and to bring in-depth insights on leveraging 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 today, Thursday, Sep 23, 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!