Africa’s fintech revolution can only achieve sustainable growth if the infrastructure powering digital transactions is resilient, reliable and capable of earning customers’ trust, Acting Managing Director/CEO of Belema Fintech, Michael Adesola, has said.
Speaking at the Nigeian Fintech Forum, Adesola challenged stakeholders across the continent’s financial technology ecosystem to look beyond user growth, transaction volumes and digital innovation, arguing that the next phase of Africa’s fintech development would be determined by the strength of the infrastructure supporting it.
“Africa doesn’t have a fintech shortage. What we may have is a resilience shortage. The real question is no longer how fast we can scale, but whether the infrastructure beneath that scale can be trusted when the pressure comes,” the Acting Managing Director/CEO said.
According to him, the rapid expansion of fintech across Africa is placing unprecedented demands on payment infrastructure, with systems now expected to support millions of users, increasing transaction volumes and increasingly complex financial services.
He identified transaction failures as one of the biggest threats to confidence in digital payments, noting that customers are ultimately unconcerned about where a failure occurs within the payment chain.
A transaction may appear successful on a customer’s screen while the beneficiary is still waiting for the funds to arrive. Whether the breakdown occurs at a bank, processor, switch or service provider, he said, the customer experiences only one outcome: a broken promise.
“Every payment is more than a transaction; it is an expectation. It is a promise that money will move. When that promise fails, trust suffers. That is why resilience cannot be an afterthought in fintech; it has to be designed into the…
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