Interswitch, a powerhouse in African integrated payments and digital commerce, is at the forefront of data-driven innovation. Their goal? To revolutionize Africa’s payment landscape and empower sustainable growth across the continent.

This commitment was championed by Akeem Lawal, Managing Director of Interswitch Purepay, during his keynote address at the recent RegTech Africa Conference held in Lagos. Interswitch’s participation as a sponsor reflects their dedication to collaboration within the financial services and regulatory technology sectors.

Lawal’s speech, titled “Harnessing Partnerships for Africa’s Prosperity: Bridging the Data Gap,” emphasized the importance of utilizing Africa’s data resources. This data, he argued, holds the key to unlocking economic potential and delivering best-in-class financial products to African consumers. With a population exceeding 1.4 billion and booming internet and mobile phone use, Africa is ripe for economic prosperity through smart data utilization.

Lawal called for a unified data regulatory framework across African nations, similar to the European GDPR. This, he argued, would allow Africa to leverage its vast data troves more effectively, bridging the data gap and driving economic growth.

“Africa’s future success depends on our ability to harness the power of data,” Lawal declared. “At Interswitch, we bridge the data gap and champion financial inclusion for all through our Quickteller platform. Quickteller connects lenders and borrowers, facilitating access to financial services for everyone. Additionally, our fraud prevention solutions, like ‘Interswitch Security-as-a-Service,’ ensure secure transactions and safeguard customer data and funds.”

Lawal further stressed the need for African businesses to prioritize data infrastructure investments, including data center development, to achieve digital sovereignty. He advocated for stronger public-private partnerships to ensure data collection and product development meet the specific needs of African customers while protecting them from digital payment fraud.

Interswitch’s dedication to innovation was recognized during the conference’s closing ceremony. They received the Outstanding Contribution to Payment Innovation Award (Technology Leadership Category) for their significant efforts in propelling Nigeria’s, and Africa’s, payment industry forward.

Interswitch remains committed to driving Africa’s payment ecosystem forward with innovative, data-driven solutions. By fostering financial inclusion and ensuring secure transactions, they are helping to shape a prosperous digital future for the continent. Industry gatherings like the RegTech Africa Conference provide valuable platforms for Interswitch and other leaders to collaborate, share insights, and develop strategies for a thriving African payment landscape.

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