SAP Sponsors East Africa Fintech 2021

CIO East Africa shall on 20th and 21st may 2021 host the East Africa Fintech Summit, in conjunction with SAP, a giant business software vendor.

The East Africa Fintech Summit is an annual event in its fifth year running and will be hosted for the first time virtually.

The rapid transitioning of virtual banking and online payments has made a seismic change in the fintech space globally, posing a real threat to the traditional brick and mortar model of banking. But better yet is the innovations like Paypal are revolutionising the financial industry.

PayPal allows customers to send and accept money in all types of currencies, with the ease to convert foreign currency to local currency and transfer the converted currency directly to the bank. This ease of transaction has seen the global financial sectors – using PayPal – grow significantly and is expected to boost the investments in the FinTech space.

But that notwithstanding, the ongoing non-traditional banking competition, evolution of real-time payments and the ever-shifting fraud landscape continues to shape the fintech industry just as much. These shifts have been termed the Fintech Revolution in past fintech summits.

So where does SAP fit in this revolution?

Considered among the best vendors of business software, SAP’s technologies meet today’s needs and allows for future growth – without costly integration.

Their latest Constellation Report positions SAP as a Leader for enterprise cloud finance, naming SAP S/4HANA Cloud a solution for the digital age.

At the East Africa Fintech Summit, SAP shall discuss the technologies that will drive innovations in Fintech during such challenging times and project the future of fintech with regard to technological advancements.

While reflecting how businesses have changed their transaction models over the past few decades, it occurs that enterprises globally have proven the business case for a 100 per cent remote workforce and customer base, adding to the changes in traditional banking institutions. Will banks become obsolete?

Such are some of the questions that will be answered at the two-day summit, which will host regional industry experts together with Lanre Bamisebi, the Group CIO at Equity Group, Faheem Ali, Expert Financial Inclusion at Fintech and Digital Transformations, Brian Kalule, Partner at Bowmans in Uganda, and Stephen Mwaura, the Chairman and Founder of Fintech Institute among others.

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