MANAGING Director, Payment Processing and Switching, Interswitch Purepay, Akeem Lawal, has said that for the huge potential of microfinance institutions to be maximised, collaboration is essential. Lawal made this call during his keynote presentation at the Techconnect 4.0 event held in Asaba, Delta State, recently.
In his keynote speech, titled ‘The Digital Transformation of Microfinance Banking: Challenges and Opportunities,’ Lawal who was represented by Emmanuel Nwokocha, Head of Sales, South-South, Interswitch, noted: “Microfinance has evolved into a dynamic ecosystem, offering a range of financial services; yet challenges like high operational costs and limited scalability remain. Digitalisation provides an opportunity to overcome these hurdles by reducing service costs, enhancing customer engagement, and creating a more inclusive financial landscape.
“Ät Interswitch, we are committed to a digital-first approach—leveraging mobile banking, AI-driven credit scoring, and cloud-based platforms to ensure microfinance institutions remain relevant and resilient in an increasingly digital world. To realise this potential, collaboration between financial institutions, fintechs, and regulators is essential, and this is where platforms like Interswitch’s TechConnect come into play, to continue to drive innovation and growth.”
Themed “The Future of Microfinance – Digitalisation, Challenges, and Growth Opportunities,” the Asaba edition engaged attendees in thought-provoking discussions, offering valuable insights from industry leaders on how technology can drive the evolution of the microfinance sector in Nigeria.
The event featured keynote presentations, insightful discussions, and fireside chats that addressed both the challenges and opportunities in the microfinance sector. A major highlight was the panel session, titled, ‘Building Financial Resilience:
The Intersection of Microfinance, Fintech, Fostering Business,’ where leading voices in technology, finance, and entrepreneurship discussed how to leverage technology for sustainable growth in microfinance. The panel emphasized fintech’s critical role in promoting financial resilience and driving business expansion.
In addition to the sessions, the event provided a valuable networking platform, allowing participants to exchange ideas, explore partnerships, and experience the latest technological advancements aimed at enhancing the operations of microfinance institutions.
The Techconnect Asaba event brought together a diverse mix of industry professionals, stakeholders, and technology enthusiasts from the financial and technology sectors, to explore how digital solutions are transforming businesses and driving economic growth across Nigeria. This will promote collaboration between indigenous businesses and industry leaders to drive the adoption of cutting-edge technology solutions and build a more robust and sustainable digital economy.
Interswitch’s TechConnect event series highlighted the company’s ongoing commitment to steering innovation in Africa’s financial sector. By bringing together industry experts, thought leaders, and key stakeholders, Interswitch created a platform for meaningful conversations that pave the way for the growth of digital finance, ultimately empowering local economies.
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