Interswitch, Africa’s leading integrated payments and digital commerce company, recently restated its enduring commitment to propelling the expansion of the digital payment ecosystem at the TechConnect 3.0 event held at The Lekki Coliseum, Lekki, Lagos on October 12, 2023.
The TechConnect 3.0 event brought together experts from various sectors within fintech, banks, and other financial institutions who delved into the theme “Adapting, Scaling, and Advancing with Fintech.”
During the event, participants utilized the platform to share data-driven strategies, practical insights, projected trends, and forecasts regarding industry challenges. They also deliberated on the necessary steps to be taken within the financial sector to swiftly adapt to evolving technological and economic conditions, scale operations, and enhance services to cater to a diverse range of customers.
Commencing on September 7, 2023, at the International Conference Centre, Ibadan, the capital of Oyo State, the event continued across other major cities in the country, including Abuja, Enugu, Port-Harcourt, and Lagos, where the final leg concluded.
In his speech at the event, Akeem Lawal, the Managing Director of Payment Processing and Switching at Interswitch Purepay, emphasized the importance of exploring global trends in digital payment technology and underscored the significance of partnerships in ensuring a successful digital transformation for the country.
Lawal highlighted that “TechConnect 3.0 demonstrates Interswitch’s unwavering commitment to spearheading advancements in the payment ecosystem. Interswitch has consistently been at the forefront of innovation in Africa, particularly in the financial sector, employing cutting-edge technological solutions to facilitate contactless payment transactions. Presently, Interswitch’s digital innovations span across various areas, including peer-to-peer lending, bots, biometrics, mobile banking, blockchain, artificial intelligence, and decentralized finance (DeFi), among others, to address scaling challenges and empower individuals and communities to overcome poverty.”
He further emphasized that “Partnerships and strong relationships are fundamental to transformation in today’s rapidly evolving digital landscape. Interswitch will continue to leverage partnerships to drive the growth of the payment industry.”
Chijioke Eze, the Business Development Manager of Financial Services Business at Interswitch, also shared his insights during the event. He stressed the importance of equipping organizations with risk-based strategies to combat fraud and avoid falling victim to fraudulent activities. He highlighted various types of fraud that financial institutions must be aware of, including identity and processing fraud, chargebacks, and cyberattacks.
The event also featured a panel session titled “Advancing Cross-Border Payments Within the African Continent: Opportunities for Financial Services Sectors.” The panelists discussed how financial institutions could utilize technology to address the challenges associated with cross-border payments, enabling individuals, business owners, and SMEs to transact seamlessly and enhance financial inclusion across the African market.
The panelists emphasized that collaborations within the sector would enable financial firms to drive growth and establish a strong ecosystem through unique products such as API gateway, mobile wallet, tokenization, and more.
Furthermore, awards were presented to notable institutions, including First Bank, UBA, Access Bank, Zenith Bank, Premium Trust Bank, Opay, Moniepoint, and Accion MFB, acknowledging their commendable contributions to the sector, reflecting Interswitch’s continued commitment as a collaborative facilitator.