Our Country General Manager, Peter Kawumi, honoured an invitation by the Bank of Uganda and the Ministry of Finance Planning and Economic Development to moderate a power panel on digitalization of financial services and Digital Financial Literacy (DFL) as tools for enhancing Financial Inclusion with special focus on the last mile client.
The discussion revolved around how the entities represented on the panel have managed to digitize their payment processes for the businesses they serve, cyber threat woes and fitting cyber security responses, evolution of the customer, and the role of regulation, among other pertinent issues.
Other intriguing areas of discussion included high transaction costs for the last mile user, and if the current attempts to improve interoperability would solve the cost and access issue.
The Bank of Uganda in partnership with the banks and other partners have made deliberate efforts to drive digital financial literacy in communities across the country as was presented at this forum.
In addition to sharing our learnings and experiences with the ecosystem for the better, taking part in pertinent discussions with key ecosystem stakeholders like regulators, government, development partners and financial services informs our product development process, and it helps us to understand the ecosystem from new perspectives. This allows us to innovate and serve businesses and consequently, the end user in the most favourable way possible.