By Ayobami Adedinni
In a move to deepen the Financial Technology (FinTech) innovation and grow startups businesses in Africa, Access Bank Plc, has collaborated with key stakeholders in driving enterprise aimed at nurturing, funding and accelerating its growth through mentorship and maturing them to deliver relevant solutions to market.
The Africa FinTech Foundry (AFF), an Access Bank initiative is also aimed at providing greater access to financial services to the financial excluded across the continent.
Speaking on behalf of the Chief Executive Officer, Access Bank Plc, Mr. Herbert Wigwe, the Group Deputy Managing Director, Mr. Roosevelt Ogbonna said, emerging of FinTech has impacted on the way the lender operates businesses.
He said the global world would continue to innovate as FinTech companies thrive to develop new products and services especially to evolving customers need.
“We believe in Access Bank innovation and we leverage more on how innovation can change businesses today. We want to be financial institution that take full advantage of technology and create market trends interesting to our customers.
“FinTech is a new opportunity to learn how to do things differently. We do not see the FinTech players as a competitor; we see them as a partners that gives all of us opportunities to sit across the table to part a new way forward for our market and economy at large.
“At Access Bank, we have the capacity to bring partners together to create new things. We are deeply excited about the opportunities to create tomorrow and we are doing this in partnership with many global institutions,” he added.
The Lagos state governor, Mr. Akinwunmi Ambode, who was represented by Lagos state commissioner for Science & Technology, Mr. Olufemi Odubiyi, at the ‘2017 AFF Disrupt Conference’ on Thursday in Lagos, said FinTech is a new technology innovation that gives a complete revolution in a way financial services are designed and delivered.
According to him, FinTech can serve as leveraging point to power communities and social media, stressing that Nigeria is transmitting into a dynamic ecosystem offering FinTech companies a platform to successes and potential grow into a multimillion Dollar businesses.
He said Lagos state government is addressing key challenges at which opportunities in the FinTech space are effectively utilized.
“For Instance, the Lagos state government is partnering with private technology firm to establish a tech startup in Yaba. I want to implore stakeholders in the banking and financial industry to reposition themselves for the Fintech revolution,” he said.
He urged government at all levels to take a clue from emerging development in FinTech by developing regulatory firm works for the growth of FinTech companies, which tends to boost Internal Generated Revenue and attract Investors.