Interswitch, ACI boost digital payment transformation in East Africa, highlight cutting-edge technologies

Admin I Tuesday, June 18, 2024

 

NAIROBI, Kenya – Interswitch, one of Africa’s leading integrated payments and digital commerce companies and ACI Worldwide, a global leader in real-time payments software, have restated their commitment to continuously developing cutting-edge solutions that will transform and modernize the digital payments infrastructure for banks, SACCOs, fintechs, and other financial institutions in East Africa.

The firms made this known during the second leg of the stakeholders’ engagement session, which held at the Radisson Blu, Upper Hill, Nairobi, Kenya.

Following the successful first edition of the stakeholders’ session in Lagos, Nigeria, the Nairobi edition provided a platform to showcase ways in which financial services industry players can leverage world-class digital payment to unlock opportunities which will drive growth and profitability across the East African region.

The event brought together industry experts, thought leaders, fintech entrepreneurs and financial analysts who engaged in constructive discussions on vital topics such as cross-border payments, modernizing payment infrastructure, open banking, and securing transactions with next-generation technology.

These insightful conversations shed light on how businesses and customers can harness technology to foster digital payments and capitalize on opportunities that drive positive transformation within the financial sector.

Delivering his keynote address, Peter Kawumi, Managing Director, Interswitch East Africa said the region’s digital payment landscape is evolving and Interswitch and ACI are poised to boost its transformation.

He stated, “The East African financial services sector is undergoing rapid transformation, driven by changing consumer behavior and technological advancements. Our partnership with ACI is pivotal in analyzing these shifts and rapidly delivering tailored solutions that address the evolving needs of the market.”

In his remarks, Santhosh Rao, Senior Vice President, Sales ACI Worldwide – Middle East, Africa, and South Asia (MEASA) reiterated the visionary partnership of Interswitch and ACI towards the development of Africa’s financial sector.

“ACI Worldwide and Interswitch’s visionary partnership signifies our commitment to transforming the African financial services landscape. Through our shared dedication to developing modernized digital payment solutions, we aim to deepen digital payment penetration, thus enhancing financial inclusion across the continent. By joining forces, we will drive further innovation, elevate payment systems, and cultivate a more inclusive and secure financial ecosystem across the continent. This strategic collaboration unlocks immense potential, streamlining payment processes and empowering businesses and consumers to thrive in Africa’s dynamic digital economy.”

Jonah Adams, Managing Director, Digital Infrastructure and Managed Services (Interswitch Syetegra) stressed the need for players in the financial space to synergize and provide expanded opportunities for industry growth and profitability.

“Cross-border trade and commerce thrive on collaboration and co-creation. Through strategic partnerships, Interswitch and ACI are dedicated to breaking down barriers and fostering seamless digital payment, empowering businesses to expand their global footprint and drive economic growth by opening new markets and opportunities”, he said.

The event served as an invaluable platform for meaningful interactions, enabling participants to directly engage with experts from the Interswitch Group and ACI Worldwide and gain insights into how the cutting-edge solutions can streamline their financial operations.

Additionally, the session facilitated valuable networking opportunities, enabling participants to connect with industry leaders, stakeholders, and potential business partners.
Interswitch and ACI Worldwide have through these stakeholders’ engagement sessions reiterated their commitment to transforming the payments landscape across Africa. The events have sparked collaborative commitments to building a more robust, secure, and inclusive payments ecosystem for the greater good.