UBA and Fintechs Collaborate for Africa's Payment Future

United Bank for Africa (UBA) and various fintech companies gathered in Lagos for a fintech conference focused on securing Africa's payment future. The event, themed "Navigating Regulatory Milestones for the Future of Banking and Fintech Partnership," featured 20 industry leaders, including representatives from Mastercard and the Central Bank of Nigeria.

Emmanuel Lamptei, UBA's Executive Director of Digital Banking, emphasized the importance of collaboration between banks and fintechs to enhance financial systems across Africa. Seyi Ebenezer, CEO of Payaza, noted that the industry has reached a tipping point where collaboration is essential for scaling operations and removing barriers.

The conference also addressed cybersecurity risks associated with rapid technological advancements, with Peter Ehizogi from Mastercard warning that innovation must be balanced with security measures. Sale Shamsideen Fashola, UBA's Head of Digital Banking, highlighted the need for a unified regulatory framework to facilitate cross-border integration.

The event concluded with a call to action for stakeholders to work together to create a resilient payment ecosystem.