Fintech impact to headline 2023 Annual Bankers Conference

August 11, 2023 in Business, Financial Services, Technology & Telecoms by Editor

Arapta said the conference will take stock of the contribution that fintechs and other players in the financial eco-system, including mobile network operators, make towards the growth and transformation of banking and financial services.

The global surge of financial technology (fintech) and its disruption of traditional banking services is the main topic of discussion during the 2023 Annual Bankers Conference (ABC) scheduled for August 14 and 15 in Kampala.

For the sixth year running, Mastercard is the Title Sponsor of the Uganda Bankers Association (UBA) event under the theme ‘The trends and innovations in the fintech space, changing the face of banking and financial services’. Fintech refers to the use of digital tools to improve the delivery of financial services and since 2017, there has been a rapid growth of this sector on the back of increasing internet penetration across Uganda.

Addressing a news conference this week, Sarah Arapta, the UBA Chairperson said, “This year’s event will take stock of the contribution that fintechs and other players in the financial eco-system, including mobile network operators, make towards the growth and transformation of banking and financial services. This through innovations and the extending of reach across new and existing market segments globally, regionally and more specifically in Uganda.”

“The conference will speak about the trends in the fintech space, the regulatory environment, opportunities within the entire spectrum of digital financial services as well as the risks both present and emerging, including cyber-security concerns,” she said.

Shehryar Ali, the Country Manager for East Africa at Mastercard said, “Our continued sponsorship of the Annual Bankers Conference holds tremendous significance for us as it aligns with our mission to power an inclusive digital economy that benefits everyone, providing solutions that help consumers, financial institutions, governments and businesses unlock and realize their greatest potential.”

He said, “At Mastercard, we firmly believe in the power of collaboration and cooperation, and alongside the Uganda Bankers Association and our other esteemed sponsors, we are committed to creating an environment in this year’s conference that nurtures open dialogue, knowledge sharing, and the forging of valuable partnerships. Together, we will pave the way for groundbreaking solutions that drive the growth, development, and transformation of the financial ecosystem in Uganda.”

The two-day conference will include an opening address by, Michael Atingi-Ego, the Deputy Governor, Bank of Uganda, Aminah Zawedde, the Permanent Secretary of the Ministry of ICT and National Guidance. The conference will also feature panel sessions anchored by relevant regulators, representatives of banks, fintechs executives, data center managers, cyber security experts and numerous other industry players and partners in the banking and fintech space. Players in Uganda’s telecom space will also be in attendance.

Arapta said, “Financial Technology has opened unprecedented space and continues to grow, expand, and drive change. These dynamics present a great opportunity for partnership and collaboration to drive financial inclusion and enable all individuals and businesses to have access and use affordable and appropriate financial products and services, ultimately promoting socio-economic transformation.”

Wilbrod Owor, the Executive Director UBA, said the conference will focus on how best players in the payments and wider financial ecosystem can competitively and sustainably leverage technology to offer solutions, enhance customer experience, drive penetration and foster economic development including the critical role expected from Government in providing the enabling environment. Digital innovations play a crucial role in extending financial services and are a driving force behind advancing financial inclusion.

“We expect key takeaways from this conference to provide pathways that inform current and future industry directions especially the much-needed collaborations required for impact and sustainability,” he said.

The Bankers’ conference is a key activity in UBA’s annual calendar that brings together regulators, practitioners and various industry experts from domestic, regional, international, and national spheres involved in delivering financial/banking services with the intention to unlock and realize their greatest business potential.