By Mulengera Reporters
In collaboration with the Financial Technologies Service Providers Association (FITSPA), Equity Bank Uganda has reaffirmed its commitment to digital financial inclusion by hosting an exclusive Fintech Engagement Breakfast at the Golden Tulip Hotel, Kampala.
The event convened key stakeholders from Uganda’s fintech ecosystem, including regulatory authorities such as the Bank of Uganda (BOU), Uganda Microfinance Regulatory Authority (UMRA), Capital Markets Authority (CMA), Financial Intelligence Authority (FIA), and the National Information Technology Authority (NITA), on March 28.
This platform enabled fintech innovators and regulators to explore collaboration opportunities, address industry challenges, and leverage digital solutions offered by Equity Bank Uganda to accelerate financial inclusion.
Speaking at the event, Mr. Gift Shoko, Managing Director of Equity Bank Uganda, underscored the evolving role of banks in fostering partnerships with fintech enterprises to enhance service delivery.
“The future of banking extends beyond traditional institutions; it is about strategic collaborations and shared infrastructure with fintechs to create seamless banking experiences,” Shoko remarked.
Equity Bank Uganda, a platinum member of FITSPA since May 2023, has actively integrated fintech solutions into its operations. The bank has opened its banking rails, APIs, and payment systems to fintech companies, enabling them to scale operations and enhance financial accessibility.
Doreen Lukandwa, Vice Chairperson of FITSPA Uganda, emphasized the transformative potential of fintech partnerships in expanding financial services.
“The future of digital finance is rooted in collaboration. Equity Bank Uganda and fintech innovators are working together to develop inclusive financial solutions,” she said.
Echoing these sentiments, Johnson Galabuzi, Head of Personal Banking at Equity Bank, highlighted the bank’s tailored financial solutions designed to empower businesses and individuals. These include overdrafts, digital financing, business and agricultural support, savings and investment options, salary and personal loans, and mobile banking services.
The event also addressed the challenges faced by businesses in navigating cybersecurity risks and payment failures. James Sserumaga, Head of Bancassurance at Equity Bank Uganda, urged fintech companies to collaborate in building a robust framework to mitigate financial and cyber risks.
“Cyber and commercial risks are rising. Few entities meet cybersecurity requirements alone. Through collaboration, we can establish stronger safeguards and fallback positions,” Sserumaga noted.
Equity Bank Uganda continues to expand its digital financial services, operating over 50 branches, over 8,000 Equi-Duukas, 2,420 POS terminals, and various digital banking solutions such as Eazzy247.
The bank also identified revenue opportunities for fintech companies, including mobile money partnerships, forex services, and co-branded financial products. (For comments on this story, get back to us on 0705579994 [WhatsApp line], 0779411734 & 041 4674611 or email us at mulengeranews@gmail.com).
