Bankers from the Common Market for Eastern and Southern Africa (Comesa) are converging in Nairobi this month to discuss the mobile banking boom.
Banks are under siege by mobile operators who have ’stolen’ the initiative from them in mobile banking and by micro-finance institutions, who are leading the way.
The first decade of the new millennium has probably been the most traumatic ever for the international banking industry. The region’s mobile banking boom has opened up a wide range of new security threats for the industry.
This is why, all these dynamics provide a rich source of content for this year’s Banking & Mobile Money Comesa conference scheduled for February 24 to 25 at the Kenyatta International Conference Centre.
The conference organised under the theme: “Leadership through Innovation,” reflects the leading position the region has assumed in banking innovation particularly in mobile banking and money transfers. “The conference aims to inspire bankers and others in the financial services sector to achieve even greater levels of innovation,” a communique issued by AITEC AFRICA.
Over 80 international and local banking, micr-ofinance, mobile payment and data security experts will be making presentations in plenary and specialist track sessions, sharing their knowledge with colleagues from the region’s financial services sector.
The communication said: “Although Comesa nations escaped the worst of the international financial meltdown, there are important lessons to be learnt in terms of governance, security and credit management and these topics will be covered in the Risk Management track.”
Another major focus of the conference is mobile banking and over the two days of the conference, 13 innovators and practitioners in the region’s mobile money explosion will share their experiences in rolling out their services – as well as their visions for future development.
In Uganda, Standard Chartered Bank through its ‘M-Banking’ and Centenary Bank’s ‘Centeline’ are the institutions, which offer this facility through an innovation, which has worked well in quick transfer of money.
The Bill & Melinda Gates Foundation are expected to hold a breakfast briefing on the second day of the event, focussing on “Success factors in Mobile Banking”. Sean Moroney, Chairman of AITEC Africa, the organisers of the event, said: “We are delighted to have support from organisations like the Gates Foundation in our endeavour to provide a powerful educational platform for the banking sector, to inspire future innovation in banking and delivering improved services for clients and every level.”
