In today’s rapidly evolving business landscape, Microfinance Banks (MFBs), Fintechs, and Other Financial Institutions (OFIs) face challenges that hinder their ability to drive financial inclusion and economic growth.
From challenges with adapting to digital transformation, to navigating regulatory complexities, these institutions often lack access to scalable technology, technical expertise, and secure infrastructure needed to meet the growing demands of a tech-savvy customer base.
These challenges, however, present immense opportunities for innovation, offering a chance to redefine traditional financial models and create lasting impact on both businesses and communities.
This is the driving force behind Interswitch’s TechConnect Series, a dynamic platform designed to bridge critical gaps in the adoption of digital solutions, reshaping Nigeria’s financial ecosystem through innovation, collaboration, and actionable strategies.
Conceived as a catalyst for transformation, the series highlighted how technology and innovation are shaping Nigeria’s financial ecosystem. Spanning five cities including Enugu, Asaba, Abuja, Ibadan, and Lagos, the series emphasised technology’s role as both an enabler and a driver of sustainable growth and inclusion.
Each event was tailored to the unique economic dynamics of its region, and TechConnect 4.0 provided a clear roadmap for transforming financial services through collaboration, innovation, and a shared commitment to digital inclusion.
Regional Highlights: Insights from the TechConnect Series
The journey began in Enugu, with the theme “Unlocking Growth Opportunities through Technology and Innovation.” Discussions centred on how technology enables MFBs to scale operations, enhance customer experiences, and drive financial inclusion. Panelists, during a session titled, “The Future of Microfinance – Transforming Microfinance Through Digitisation,” shared strategies for leveraging digital tools, emphasising the need for partnerships between public and private sectors to drive a robust digital economy.
In Asaba, the focus shifted to operational efficiency and business growth under the theme “The Future of Microfinance – Digitalisation, Challenges, and Growth Opportunities.”
Panelists explored the intersection of microfinance and fintech, demonstrating how strategic collaborations can address challenges such as resource limitations and evolving customer needs. Practical discussions on the theme, “Building Financial Resilience: The Intersection of Microfinance, Fintech, and Fostering Business,” stressed the value of collaboration and digital adoption and offered actionable insights for stakeholders seeking to drive resilience and prosperity.
In Abuja, the nation’s capital, the session explored the importance of integrating cutting-edge technologies such as AI, data analytics, and cybersecurity to develop secure, scalable solutions. Themed “Unlocking Growth Opportunities through Technology and Innovation,” discussants addressed pressing issues such as fraud prevention and compliance. A recurring emphasis on partnerships between banks, fintechs, and OFIs reinforced the collective responsibility required to modernise Nigeria’s financial sector.
The penultimate stop in Ibadan explored the theme, “Digital Transformation as a Strategy for Growth: Opportunities for MFBs, Fintechs, and OFIs.” Discussions spotlighted emerging technologies such as blockchain, AI, and predictive analytics, emphasising their potential to deliver tailored solutions to underserved communities. The sessions also stressed the importance of trust, strategic partnerships, and innovation in building a secure and resilient financial ecosystem.
The Lagos finale marked the crescendo of the TechConnect Series. Akeem Lawal, Managing Director, Payment Processing and Switching (Interswitch Purepay), delivered a keynote titled “Bridging Gaps in Africa’s Diverse Markets: Leveraging Payments as a Growth Engine for Businesses,” reaffirming the organisation’s commitment to financial inclusion.
Panel discussions at the grand finale, themed “Navigating the Future of Financial Services: Integrating Compliance, Technology, and Collaboration to Combat Fraud and Drive Growth,” and “Building Financial Resilience: The Intersection of Commercial & Microfinance Banks, Fintechs, & OFIs in Fostering Growth within the Financial Services Sector,” focused on leveraging compliance, technology, and collaborative efforts to address fraud challenges while unlocking new growth opportunities. The sessions also explored strategies for fostering resilience and growth through synergy between financial institutions and fintechs.
The Interswitch TechConnect 4.0 Series has proven that true innovation lies not in the generation of ideas alone but in their practical implementation and measurable impact. By championing collaboration, leveraging technology, and tackling real-world challenges, Interswitch has solidified its position as a transformative force in Africa’s financial services sector.
As the curtains fall on TechConnect 4.0, one thing remains undeniable: Interswitch is leading the charge in driving financial inclusion and innovation. With its unwavering commitment to innovation, the vision of a digitally empowered Africa is steadily transforming into reality.
