ADVERTISEMENT
TechEconomy
Thursday, May 8, 2025
No Result
View All Result
Advertisement
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Podcast

Home » Advancing Cross-Border Payments, Remittances Requires Innovation – FintechNGR

Advancing Cross-Border Payments, Remittances Requires Innovation – FintechNGR

FintechNGR & Africa Fintech Network Host Webinar on Cross-Border Payments and Remittances, Call for Enhanced Collaboration and Innovation.

Peter Oluka by Peter Oluka
September 6, 2024
in Fintech
0
FintechNGR and Africa Fintech Network
FintechNGR | Africa Fintech Network webinar

FintechNGR | Africa Fintech Network webinar

RelatedPosts

Happiness Obioha, Tizel Cybersecurity CEO at PAFON 2.0

​PAFON 2.0: Tizel Cybersecurity Calls for Vigilance over Surge in AI-Powered Fraud

May 7, 2025

KongaPay Raises the Bar with Three ISO Certifications

May 7, 2025

In a continued effort to drive innovation and collaboration within the fintech sector, the Fintech Association of Nigeria (FintechNGR), in partnership with the Africa Fintech Network (AFN), hosted an impactful webinar, recently.

The event, themed “Scaling Cross-Border Payments and Remittances,” brought together industry leaders to discuss the challenges and opportunities in advancing cross-border financial transactions.

The webinar, which had average of about 200 participants, featured key insights from seasoned practitioners and experts from across Africa, Hong Kong and Singapore.

The dialogue covered the opportunities and challenges to scaling cross-border payments to boost livelihood and intra-Africa trade as well as trade between Africa and the rest of the world; leveraging the development in fintech and wider digital finance space.

Opening the event, Jacqualine Jumah, director of Advocacy and Capacity Development at AfricaNenda, highlighted key trends in payment volumes across Africa.

She noted that the continent has witnessed a significant surge in digital payment volumes, driven by increased mobile penetration and the adoption of fintech solutions.

However, she cautioned that while the growth is encouraging, the continent must address infrastructural and regulatory challenges to sustain this upward trajectory.

On the pressing issues of fraud, data privacy, and the need for strategic partnerships across Africa; Abiodun Animashaun, country director of Chipper Cash, emphasized the critical need for robust anti-fraud measures in cross-border transactions.

He highlighted that the success of these measures relies heavily on global collaboration between the private and public sectors, stressing that this cooperation is essential for enhancing the security and efficiency of cross-border payments.

Similarly, Paul Li, President Hong Kong Fintech Industry Association, addressed the challenges posed by varying privacy laws on the international transfer of data.

He noted that while technology such as AI can significantly aid in fraud prevention, the infrastructure required for such solutions is often hampered by these regulatory differences.

Li, called for a more unified approach at the governmental level to facilitate smoother data transfers, suggesting that mobile based solutions and blockchain technology could offer more streamlined and secure alternatives for managing digital identities.

The event also shed light on the importance of strategic partnerships for financial institutions looking to expand across the African continent.

Ho Chee Wai, lead consultant at JFourth Solutions based in Singapore, advocated for collaboration with established players in target markets, noting that such partnerships are crucial for easing the complexities associated with regional expansion.

United BANK

He emphasized that such alliances are not only beneficial for entering new markets but are also vital for accelerating the setup and operation of financial services across Africa.

Furthermore, the discussion highlighted the potential of a unified digital identity system in Africa.

The panelists explored the use of mobile phones and biometric information to create blockchain-based ID tokens, which could significantly streamline Know Your Customer (KYC) processes.

They suggested this approach would be more efficient and secure compared to traditional ID methods, which often face significant logistical challenges.

Reflecting on the relevance of traditional platforms such as SWIFT, questions were raised as to the true benefits for intra-Africa trade given challenges such as the need for settlement in non-African currencies and the associated volatility in African currencies; significant declined in correspondent banking relationship between Africa and advanced economies; and the relatively high transaction costs.

The view held was that fintech solutions, specifically tailored to the African context, might offer more effective and innovative alternatives.

On the issue of cyber fraud and insurance, Animashaun pointed out the difficulties fintech companies face in obtaining affordable coverage, attributing this to the limited anti-fraud infrastructure.

He noted that insurance companies often struggle to offer reasonable rates, necessitating case-by-case negotiations by fintech firms.

Overall, the webinar underscored the need for continued dialogue, collaboration, and innovation to overcome the challenges in cross-border payments and remittances.

It also set the stage for further discussions on blockchain technology, which will be explored in more depth during the upcoming Nigeria Fintech Week in October 2024.

These initiatives reaffirm FintechNGR and Africa Fintech Network’s commitment to fostering an innovation-driven environment not only in Nigeria, but across the entire Africa fintech ecosystem.

By leveraging technology and strategic collaborations, both organizations continue to play a pivotal role in enhancing efficiency, security, and accessibility in the financial services sector.

5 total views , 2 views today

United BANK

0Shares

Tags: chipper cashcross-border paymentsJacqualine JumahSWIFT
Previous Post

Enterprise Software Innovator Fastn Raises $2.6M to Accelerate Growth

Next Post

NCS To Certify Port Operators, Rakes in 277 Billion

Peter Oluka

Peter Oluka

Peter Oluka (@peterolukai), editor of Techeconomy, is a multi-award winner practicing Journalist. Peter’s media practice cuts across Media Relations | Marketing| Advertising, other Communications interests. Contact: peter.oluka@techeconomy.ng

Related Posts

Happiness Obioha, Tizel Cybersecurity CEO at PAFON 2.0
Fintech

​PAFON 2.0: Tizel Cybersecurity Calls for Vigilance over Surge in AI-Powered Fraud

by Latifat Fashina
May 7, 2025
0

Tizel Cybersecurity has urged firms in the financial sector to adopt advanced tools, partnerships, and training to stay ahead of...

Read more
KongaPay | ISO Certifications

KongaPay Raises the Bar with Three ISO Certifications

May 7, 2025
MTN and CSCS

CSCS, MTN Launch USSD Code to Expand Investment Access in Nigeria

May 7, 2025
Flutterwave CEO Advocates for Stronger Intra-Continental Trade

Flutterwave CEO Advocates for Stronger Intra-Continental Trade

May 6, 2025
Moniepoint processes N17billion transactions monthly

Moniepoint Processes over $17 billion in Transactions Monthly

May 6, 2025
PalmPay preaches Contactless Payments at BusinessDay Payment Conference Pix

PalmPay Champions Contactless Payments

May 6, 2025
Next Post
The Nigeria Customs S

NCS To Certify Port Operators, Rakes in 277 Billion

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Techeconomy Podcast

Techeconomy Podcast
Techeconomy Podcast

Infowave is brought to you by TechEconomy. Every week we will bring new stories from startups and influencers who are shaping and changing the world we live in. We’ll also bring you reports on topics you should know.

Follow us @techeconomyng for more.

Audio Player
CYBERSECURITY ESSENTIALS
Techeconomy Podcast
CYBERSECURITY ESSENTIALS
BUILDING STRONGER NETWORKS AND COMMUNITIES[...]
  • 0.8
  • 1
  • 1.2
  • 1.5
  • 2
Download
  • Facebook
  • Twitter
  • Linkedin
  • Copy episode link Copied
  • Download
Captions
00:00
00:00
CYBERSECURITY ESSENTIALS
byTecheconomy

BUILDING STRONGER NETWORKS AND COMMUNITIES

CYBERSECURITY ESSENTIALS
April 24, 2025
Techeconomy
Digital Marketing Trends and strategies for 2025 and beyond
February 27, 2025
Techeconomy
Major Lesson for Techies in 2024 and Projections for 2025
December 6, 2024
Techeconomy
Major Lessons for Techies in an AI-Driven World | Techeconomy Business Series Highlights
November 26, 2024
Techeconomy
Maximizing Profitability Through Seasonal Sales: Strategies For Success
November 8, 2024
Techeconomy
Techeconomy Business Series
October 15, 2024
Techeconomy
PRIVACY IN THE ERA OF AI: GETTING YOUR BUSINESS READY
May 30, 2024
Techeconomy
Unravel the Secrets of Marketing Everywhere All At Once with Isaac Akanni from Infobip | Infowave Podcast Episode 1
February 9, 2024
Techeconomy
The Role of Ed-tech in Life Long Learning and Continuous Education
October 19, 2023
Techeconomy
Filmmaking and Technology: A chat with Micheal Chineme Ike
June 7, 2023
Techeconomy
Search Results placeholder

WHAT IS TRENDING

Video Player
https://www.youtube.com/watch?v=g_MCUwS2woc&list=PL6bbK-xx1KbIgX-IzYdqISXq1pUsuA4dz
00:00
00:00
00:31
Use Up/Down Arrow keys to increase or decrease volume.
uba

Follow Us

  • About Us
  • Contact Us
  • Careers
  • Privacy Policy

© 2025 Techeconomy - Designed by Opimedia.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS

© 2025 Techeconomy - Designed by Opimedia.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.