Manny Ita –
United Bank for Africa (UBA) has reiterated its commitment to strengthening collaboration between traditional banks and fintech companies across Africa following its inaugural fintech conference focused on the future of partnerships in the sector.
The event, themed around navigating regulatory milestones and shaping bank–fintech collaboration, brought together over 20 major players in the ecosystem. Participants included PalmPay, OPay, PayAza, Mastercard, Visa, the Nigeria Inter-Bank Settlement System, and representatives from the Central Bank of Nigeria. Discussions centered on regulatory frameworks, innovation, cybersecurity, and the evolving payments landscape across the continent.
Opening the conference, UBA’s Executive Director for Digital Banking, Emmanuel Lamptey, urged a shift in mindset within the industry.
“The future is not banks versus fintechs, but banks with fintechs. When we combine scale, trust, and regulatory depth with innovation and agility, we unlock a financial system that works for far more Africans.”
Industry stakeholders echoed similar sentiments. A representative from Mastercard, Peter Ehizogie, highlighted how Nigeria’s payments ecosystem has evolved over time, while cautioning about emerging risks.
“Each wave of innovation—instant payments, cards, gateways, and now AI—has expanded opportunity while introducing new risks. Collaboration is what ensures progress is sustained, not disrupted.”
Also speaking, the CEO of PayAza, Seyi Ebenezer, stressed the urgency of integration within the ecosystem.
“Collaboration is no longer optional. The priority now is speed—how quickly we can remove the barriers between fintechs and banks to unlock scale.”
UBA used the platform to showcase its own technological strides. The bank’s Head of Mobile Banking, Gideon Iheama, outlined enhancements to Leo, its AI-powered assistant, which now enables conversational transactions, including transfers of up to ₦5 million and foreign currency operations.
Closing the event, UBA’s Head of Digital Banking Sales, Shamsideen Fashola, drew attention to the growing importance of cybersecurity in a rapidly evolving digital space.
“Cybersecurity is now AI versus AI. As institutions innovate to improve customer experience, they must invest just as aggressively in defending against evolving threats.”
The conference concluded with a shared agreement among stakeholders that sustained collaboration between banks and fintechs remains essential for driving financial inclusion, strengthening system resilience, and unlocking long-term growth across Africa’s financial ecosystem.
