The Kenya Bankers Association has signed a collaboration agreement with tech-firm Huawei-Kenya that seeks to deepen financial inclusion in the banking sector through further deployment of technology and building fintech capacity.
In the partnership, KBA will work closely with Huawei-Kenya to spearhead industrywide capacity building initiatives aimed at promoting knowledge on financial technology innovation, digital transformation, and other information and communication technology-related programmes in the banking industry.
Under the partnership, KBA and Huawei will also aim to promote financial inclusion activities in line with the KBA Strategic Plan for the period 2020 to 2023.
Launched last year, the plan seeks to promote access to affordable financial services through tech-aided operational efficiency.
Speaking during the signing of the agreement, KBA Chief Executive Officer, Dr. Habil Olaka, said the cooperation would go a long way in promoting the delivery of efficient banking services in Kenya through knowledge-sharing programmes that will be organised by the two institutions.
“This partnership will further focus on research and knowledge-sharing activities, which will supplement the research initiatives that continue to be spearheaded by the association’s Centre for Research Financial on Markets and Policy®. In this regard, the collaboration will certainly augment KBA’s and member banks’ knowledge base in engagements with diverse stakeholders from a fact-based perspective,’’ Dr. Olaka added.
The partnership comes on the heels of the 2020 edition of the Huawei-KBA Online FSI Summit slated for 30 September. The forum is among the initiatives Huawei and KBA are jointly implementing to promote the delivery of efficient banking services through technology under the cooperation agreement.
Huawei-Kenya Chief Executive Officer, Will Meng, welcomed the partnership, saying technology will remain a core driver towards enhancing convenient access to financial services in light of the COVID-19 pandemic.
