AFRICA
There is talk of merging the boundaries between e-commerce , banks and financial organisations - do you agree ?
VS : In Africa , we have witnessed backend mergers of retailer , e-commerce service providers , mobile money or mobile payments companies along with banking support from banks .
At the end of the day these industries are inter dependent on each other and have many common business interests .
An interesting point you made previously was the idea that fintechs are responsible for innovation ; “ finnovation ”, is this still true ?
VS : Looking at where banks sit and where banking ( my argument is bank and banking are two separate items ) service providers sit , banks rely big time on fintech for “ finnovation ” and they always will . Banks are nourishing “ finnovation ” and have slowly started learning the space of the digital world and the advantages it brings .
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