What you need to know:
- Huawei Kenya CEO Will Meng welcomed the partnership, saying technology will remain a core driver towards enhancing convenient access to financial services in light of disruptive occurrences such as the current pandemic.
Chinese technology giant Huawei has partnered with the Kenya Bankers Association (KBA) to deepen financial inclusion in the banking sector through further deployment of technology.
The two entities said they will work together to spearhead industry-wide capacity building initiatives aimed at promoting knowledge on fintech innovation and digital transformation within Kenya’s banking industry, with the ultimate goal of banking the unbanked.
Speaking during the signing of the agreement, KBA chief executive Dr Habil Olaka said the cooperation would go a long way in promoting the delivery of efficient banking services in the country.
“This partnership will further focus on research and knowledge-sharing activities, which will supplement the research initiatives that continue to be spearheaded by the association’s Centre for Research Financial on Markets and Policy. In this regard, the collaboration will certainly augment KBA’s and member banks’ knowledge base in engagements with diverse stakeholders from a fact-based perspective,’’ Dr Olaka stated.
Under the partnership, KBA and Huawei will also aim to promote financial inclusion activities in line with the KBA Strategic Plan for the period between 2019 and 2023. Launched last year, the plan seeks to promote access to affordable financial services through tech-aided operational efficiency.
Huawei Kenya CEO Will Meng welcomed the partnership, saying technology will remain a core driver towards enhancing convenient access to financial services in light of disruptive occurrences such as the current pandemic.
‘’The theme of the upcoming summit is ’Building Banking Core Competence through Digital Transformation to Accelerate Inclusive Finance’. It is one of the initiatives we are rolling out in Kenya in partnership with the Association to ensure we optimally leverage on technology to achieve affordable and accessible financial services in the regional economy,’’ he noted.
The partnership comes on the heels of the 2020 edition of the Huawei-KBA Online FSI Summit slated for September 30 this year.
The forum is among the initiatives Huawei and KBA are jointly implementing to promote the delivery of efficient banking services through technology under the cooperation agreement.