Access Bank has established the Africa Fintech Foundry as part of efforts to boost innovation in Nigeria, Africa and the global community.
The Executive Director, Personal Banking, Victor Etuokwu, made this known on Thursday in Lagos at a news briefing on “AFF Disrupt 2017’’ conference.
Etuokwu said AFF was Access Bank’s accelerator, which sought to create new opportunities in sub-Saharan Africa.
He said the foundry was to provide a platform designed to inspire and challenge African innovators and entrepreneurs.
According to him, AFF will provide Africa companies seeking to inaugurate their products with capacity building and training in business development.
He said: “It will provide connectivity to global innovation grids, promote access to capital, create opportunities for partnerships and showcase best practices and successes in Africa-led innovation solutions.
“The world we live in is changing. As a bank, we are looking for better ways to serve our customers.
“So, in order to be and remain relevant in the ever-changing world, we have to be innovative.
“AFF and the AFF Disrupt conference are ways to grow and maintain the market share of Access Bank.
“AFF is here to disrupt the African continent and it will impact not only the banking sector, but will impact both health, security, agriculture and the economy in general.”
The Head of AFF, Victor Okigbo, said that the foundry was supported by Access Bank, Microsoft, IBM and other technology majors.
Okigbo said that the foundry would be officially unveiled on December 13, while the AFF Disrupt conference would hold on December 14 in Lagos.
He said that the foundry would be conducting innovation tours to different parts of the country and four African cities, as a way of encouraging start-up businesses to take advantage of the foundry to improve on their innovative ideas.
Okigbo said the first edition of its FinTech conference, tagged; “AFF Disrupt’’ would bring together like-minded investors and partners to collaborate and join the AFF.
The Event Coordinator, AFF Disrupt conference, Adeleke Adekoya, said that the event was a good opportunity for start-up businesses to take advantage to partner and network.
Adekoya said that the event was also an opportunity for partners to create linkages and networks that could help grow their businesses.
He said that vetting process was ongoing, and a total of 12 start-ups would be selected from about 400, to demonstrate and exhibit their innovations at the conference.
According to him, the 12 start-ups will be part of the AFF’s three-month accelerator programme.
worried by incessant fraudulent activities being perpetrated in the banking sector, the Central Bank of Nigeria, Access Bank Plc and other stakeholders in the industry have advocated for a strong collaborations in the sector aimed at tackling the menace.
The collaboration with FinTech companies and security agencies according to them became necessary given the sophisticated nature of frauds being perpetrated.