Business

Access Bank restates commitment to tech innovation

Access Bank has shown its commitment to advancing the frontiers of industry agnostic technological innovation across Africa with Nigeria in focus. This position is entrenched by Access Bank’s sponsorship of the Nigerian Fintech week 2020. The week-long event sought to highlight FinTech as a solution to problems across different industries including health, agriculture and logistics.

Speaking at the event, Executive Director for Information Technology and Operations at Access Bank Plc, Ade Bajomo, said, “Access Bank is committed to positively impacting lives and building the economy through technology. For years, the bank has invested in several initiatives geared towards improving access to tecnological innovations while providing platforms for tech enthusiasts to innovate and make massive impact on the society.”

One of such innovation is Facepay which is a pioneer solution in Africa that captures the face of an individual and leverages same to grant access to financial services for the unbanked, make instore payments seamlessly at merchant locations and subsequently build queless branches.

Furthermore, Ade Bajomo spoke about how various Digital identity systems are leveraged across the world to provide economic inclusion for 1 billion people who are estimated to lack access to financial services because they do not have a form of  legally recognised identity.The foremost example was how India’s Aadhaar identity manangement programme which has 1.2 billion indians has been leveraged for financial inclusion,direct beneficiary programmes, humanitarian assistance, AML compliance and cost savings in government processes. He stated that Nigeria has a lot to learn from this and Access Bank is at the forefront of leveraging digital identity systems to promote economic inclusion.

Source: thenationonlineng.net