Spearheading as the most technologically advanced country in the continent, Kenya has earned the title of “Silicon Savannah” in no time. With the country’s tech ecosystem soaring on cloud nine, its financial institutions have taken massive steps towards enabling a cashless economy.
As technology is seen as the main determinant for the transition, the amalgamation of technology and the Financial Services Industry (FSI) has become paramount. This is where the World Financial Innovation Series (WFIS) has established its mark. Going live on 24 – 25 May 2023 at Nairobi’s most iconic venue, The Kenyatta International Convention Centre (KICC), the event platform will once again project the most pressing developments in FSI.
For Mastercard, the diamond sponsor of the event and one of the biggest industry behemoths in the continent, WFIS has become the favourite choice to get in front of Kenya’s financial services community and as the launch pad for its exclusive services for the region.
Convening a gathering of over 600 key personalities from Kenya’s finance and tech landscape, the platform has become the most accredited space for cutting-edge knowledge sharing, latest products showcase and abundant networking with the front runners of the industry.
While the country has already become the mobile money capital of Africa and business schools globally are using Kenya’s example as a case study, its banks and other financial institutions are still incorporating new technologies on a frequent basis. The primary idea has always been to bring financial services access to the underprivileged and the path is leading towards digital/cashless financial services.
World Financial Innovation Series is always facilitating possible synergies between fintech providers and traditional financial institutions that possess the potential for enabling a robust digital economy, in alignment with the Kenya Government’s Vision 2030.
Acknowledging the platform’s positive influence on the region over the years, this year’s edition also has the strong support from The Kenya Institute of Bankers and Association Of Fintechs In Kenya.
At a press meet, The Kenya Institute of Bankers even issued a statement expressing its vision for the country’s FSI, “The Kenya Institute of Bankers is the premier institution for providing capacity building in the banking and financial services sector in Kenya. We are keen on promoting skills for the workforce of the future both in Kenya and the region. Our Transformation Agenda through KIB Strategy 2.0 is anchored on 5 pillars namely – Governance and People, Value Proposition and Visibility, Digitization, Partnerships and Business Sustainability.”
Companies like Mastercard, ITSCREDIT, Perfios Software Solution, Crayon Data, Redington, Safricloud, Genesys, BUI, DZ Card (Africa) Ltd, iiDENTIFii and Paystack have already taken the lead as they have reserved their exclusive exhibition spaces at the platform for showcasing their best fintech solutions to the entire industry.
With over 354 fintech companies across numerous sectors, Kenya’s fintech landscape has become a force to be reckoned with, which is also Africa’s largest and most established fintech ecosystems. The country even left the whole region behind when in just the first 3 months of 2022 it garnered a record high VC funding of $482 million.
It’s quite evident that the entire gamut of fintech developments further supported through the efforts of World Financial Innovation Series, is enabling both financial institutions and technology providers to find a common ground, eventually driving the country towards a cashless economy.
Organizer and CEO of Tradepass, Sudhir Jena expressed, “Kenya has always been one of our top locations for World Financial Innovation Series as the response here has been nothing short of tremendous. Hosting all the FSI & Technology leaders under one roof has always powered an extremely competitive business environment and aided in paving the future road map for the financial services industry.”
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