AFRICA
What examples have you seen over the last year ?
VS : I ’ ve seen a lot coming in i . e . bots , machine learning to make scientific predictions for Fintech and AI started ruling over fintech to guide customers .
You can read more in my blog post that looks at the data science of payments as well as my attempt at demystifying machine learning in fintech .
You predicted a future where customers will still require banking , but without the physical bank itself – is this still a possibility
VS : This is no longer a future , it ’ s happening now , particularly over the last seven months . I cannot remember visiting any bank for my financial needs , it has all been cashless through my phone .
What are banks doing in response to this ?
VS : Banks , in their terms , are doing a lot but on a wider scale of the industry , these efforts are not enough , so competition to fintechs is almost nil .
Almost every player in the fintech space came out of a financial industry with an attitude towards growth ; you grow , I grow . A bank ’ s mind set is ; to do business with us you need to be matured and stable .
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