#Affdisrupt2019: Bringing The Future Of Fintech To Nigeria

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At the just concluded Digital Goldrush tagged “Affdisrupt2019” ,the event exposed Nigerians and Fintech ecosystem to the fast evolving trends in the technology world. Today, fintech is taking a new shape in Nigeria. It is you either adapt get disrupt or be a dinosaur. This was the underlying message to the Nigerians as the country is about to make a great leap to the 4th industrial revolution.

The future of workplace, financial space would be disrupted as things develop. This informed Access Bank, one of the biggest financial house in the country to be futuristic and also bring the Nigerian Fintech to current realities which is the global best practices and finding.

“By 2025, there will be more robots than humans, adding that human beings need to be nice to robots”, Brett King, A futurist and CEO of Moven said at the event.

“ Technology is moving much faster than before. In an environment of rapid change, you either disrupt or get disrupted”, Brett opined at the conference.

This was the fulcrum of his keynote address at the AFF(Africa Fintech Foundry) Disrupt 2019 in Lagos, with the theme ‘Digital Goldrush: Building a Sustainable Tech-economy’, held at Landmark Centre, Victoria Island Lagos.

Venture Capital and investors look at three critical things when investing in a startup and they are ; People -Quality of the team , Market – What market is your solution aimed at? Is it saturated? and timing – Is the market ready for the solution yet? These things were made known to the startups at the event. The need to scale, create solutions that address the challenges of the need of the market should be the critical aspect every startup must look at.

Also, being an intelligent Bank or banks with so many branch is becoming a thing of the past and as it stands today, the narrative is changing and the conversation is tilting towards Internet of Things, Blockchain, and artificial intelligence. These are the disruptions changing the dynamics in banking sector and the country must brace up for it.

Mr Herbert Wigwe, the CEO of Access Bank used the occasion to take Nigerians to the memory lane and also let people understand “MKO Abiola used to exhaust 3 cheque books every morning. Today, nobody uses more than 3 cheque books in a year. Where will we be in 10/15 years from now ? Technology is changing. We have to change with it.”

He also added that “There was a time when payments could only be made through Cheques. Now, through technology, transactions worth billions can be made in seconds. That is how much the world has changed.”

In line with the position of Hubert, Ade Bajomo, Executive Director (IT and Operations), Access Bank added “We want a world where Africans solve Africa’s problem”


Sally, one of those that attended the event said “I’m so excited, #AFFDisrupt2019 starts today. The goal is to have conversations and insight into the world of technology and innovation. Professionals from all over the world are in attendance, it’s about to be an unforgettable experience.”

AFF Disrupt 2019 is a pan-African accelerator aimed at inspiring, training, mentoring, and investing funding into growth stage technology startups operating primarily in the FinTech space. The tech summit officially sponsored by Access Bank also had in attendance Herbert Wigwe, CEO of the bank.

 

 

Anthony Nwosu

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