Stakeholders call for collaboration in advancing Africa’s fintech industry
Stakeholders have called for collaboration towards advancing Africa’s financial technology (Fintech) industry.
This is even as they commended Appzone on the launch of Zone, Africa’s first blockchain platform for payment processing.
At the event held recently in Lagos, the stakeholders, made up of captains of industry and business leaders, discussed the role that Zone will play in decentralising payments and inter banks transactions across Africa, whilst also calling for increased collaboration from all in the finance and technology sectors, to advance Africa’s Fintech Industry.
While delivering the Keynote address at the event, CEO and Founder of Sparkle, Uzoma Dozie, disclosed that with the right amount of collaboration and adoption, Zone will improve existing payment infrastructure and create robust experiences for players in the market.
Dozie added: “Zone is built on a new technology that addresses trust and transparency in the sense that users don’t have to rely on the bank’s central system where they are locked out of the process. With Zone, users are more aware, and they perfectly understand every single bit of the process, which creates the transparency needed to build trust and increased adoption.”
According to Dozie, the COVID-19 pandemic made people more aware of the need to embrace digital finance, fostering the appreciation needed to increase the adoption of digital finance and payment technologies.
Speaking about the features of Zone, CEO and founder of Appzone Group, Obi Emetarom, described Zone as more than a blockchain payment platform. According to Obi, Zone is a financial network, made up of different financial institutions, that delivers payment processes and real-time settlement.
“The Zone platform offers users exciting opportunities, it is a ubiquitous network because it connects all sorts of financial institutions from payment companies, microfinance banks to fintech to digital banks.
Zone also uses peer to peer routing, which means that all the institutions leveraging the platform can connect directly without any middleman, ensuring reliability and scalability,” Emetarom added.