SeamlessHR Urges Technology Adoption In Banking, Financial Services As Govt Pledges Support

• Banks and financial service providers have been urged to embrace technology and its growing trends
• SeamlessHR CEO and founder Dr Emmanuel Okeleji said Kenya offers the best financial service and technology sector across Africa
• Okeleji highlighted the factors driving disruption in the country's financial services sector.

Africa’s leading HR & payroll technology firm, SeamlessHR, has called upon banks and financial institutions to adopt technology and its trends.

Speaking during a C-level executives roundtable in Nairobi, the company CEO & Co-founder, Dr Emmanuel Okeleji, highlighted the factors driving disruption in Kenya’s financial services sector.

Okeleji emphasised the importance of understanding the disruptive forces at play and exploring innovative strategies to navigate the changing landscape.

“Banks and other financial services institutions in Africa must adopt technology solutions to improve business efficiency and operations for growth. Banks will always be here, even in 100 years, but the way banking is done will continue to evolve in the coming years as we embrace innovation.

"At SeamlessHR, we built our solutions to help these institutions automate all their business processes, helping them manage their resources better and be more productive. This way, organisations will continue to evolve as the industry expands. ” said Dr Emmanuel.

The event followed a major transformation in the financial services industry in Kenya, which is driven by technological advancements.

The stakeholder meeting aimed to foster insightful discussions and generate actionable insights to drive sustainable growth and innovation within the industry.

According to the Central Bank of Kenya, globally, there has been an emergence of ‘hybrid risks ’ that are affecting the financial services sector.

They include the potential materialisation of cybercrime and climate change risks to the financial sector.

The financial sector's increased adoption of technology and technological innovations has come with risks of cyberattacks, frauds, threats, and even actual losses.

Kenya's government efforts in enhancing technology adoption

Government and Digital Economy Secretary for ICT and Digital Economy, Mary Kerema highlighted the government’s commitment to supporting ICT infrastructure that helps bring different services to the populace.

“The government is working towards making sure that we have a connected country, and hence we are working to grow the reach of fibre across the country which will lower the cost of access.

"The Financial services industry is a key cog in transformation and we have seen it grow exponentially with all the different players in the space, and with the adoption of new technologies like AI, which is helping the industry to be even more responsive to customer needs”, said Kerema.

The meeting brought together C-level executives from some of Kenya’s leading financial institutions. They included Gloria Akinyi, Chief People Officer -Digital Business, NCBA Bank; Group Human Capital Executive at Old Mutual East Africa, Nkirote Njiru. Also present was Director of ICT and Innovation at Co-operative Bank Charles Washika; Director, of Human Resources at SBM Bank - Jackie Ogonji; Justine Kosgei, CEO & Principal Officer - AAR Insurance amongst others.

The stakeholders engaged in in-depth discussions on leveraging technology and innovative strategies to enhance the financial services industry.

“The growth and adoption of AI has seen the financial services sector be the first one to be disrupted, and rightly so, as quite several tasks are repetitive and mundane, which is where AI excels. In Banking, ATMs, mobile and internet banking are replacing the traditional banking hall, which is shrinking in size.

"As a special envoy on technology, we harness all these technological advancements to aid in everyday development within the Kenyan economy to help the public sector move services closer to the people even as the private sector continues to innovate around these new technological advances ”, said Phillip Thigo (MBS) - Special Envoy on Technology for the Republic of Kenya.

SeamlessHR remains steadfast in its dedication to empowering African financial institutions through its unique products, which are present in Nigeria, Ghana, Rwanda, Botswana, Tanzania, Kenya and expanding to southern Africa.

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SeamlessHR CEO called for continued adoption of technology.

SeamlessHR Urges Technology Adoption in Banking, Financial Services as

Government Pledges Support for Digitization of Banking & Financial