Egypt hosts 'Seamless North Africa 2019' to discuss latest trends in Financial Technology

CAIRO - 12 June 2019: For the second consecutive year, Central Bank of Egypt will host on the 17th and 18th June 2019, the FinTech Conference "Seamless North Africa 2019", under the auspices of H.E the Prime Minister, Dr. Mostafa Madbouly, and with the participation of the most renowned international and local experts in the field of financial technology, e-payments and e-commerce.

The conference is held in collaboration with the Council of Arab Economic Unity and the League of Arab States, and is co-organized by the Egyptian Banking Institute (EBI).

Partakers will represent influencing and well recognized entities, institutions, banks and international companies, that cover multiple sectors of banking, finance and e-commerce, aiming to discuss and evaluate the role played by new technologies and strategies to cater for improved services to citizens and consumers across the Arab world.

Ms. Lobna Helal, Deputy Governor of the Central Bank of Egypt, affirmed that “hosting the conference for the second year in a row reflects the tremendous success achieved by SEAMLESS 2018 in its first edition, emphasizing that "The Central Bank of Egypt’s hosting of the Conference stems from the premise of its pioneering role to communicate with society and address the challenges facing the expansion of innovative financial products and services. The role played by the Central Bank is no longer limited to the regulatory and organizational aspects, but has extended to support and incentivize the society to be less cash dependent and to sustain the transition towards financial inclusion, Under the umbrella of the National Payments Council, which is privileged with the chairmanship of President Abdel Fattah al-Sisi. "

Eng. Ayman Hussein, Sub-Governor of the Central Bank for the Payment Systems and Information Technology Sector, has stated that “The conference has attained escalating importance derived from the leading role played by FinTech in providing, efficient, effective and affordable financial and banking services to meet the diverse timely and logistical needs of customers, thus creating an enabling environment and improving accessibility to the general public, appointing financial technology as a key pillar of financial inclusion and a fundamental supporter of economic growth, accordingly, achieving benefits on the individual and state levels”.

The conference will discuss the challenges that face Egypt’s emerging FinTech eco-system, in the areas of microfinance, microcredit, cross-border payments, remittances, data analysis, artificial intelligence for retail banking, cybersecurity and the SME credit score.

He also mentioned that the conference supports innovation in FinTech, whereas it will feature a pitch off competition for Fintech startups, whereas candidates will compete for a grant of USD 50,000 in cash awarded by an international sponsoring company. Competitors will present their new business model or innovative Fintech solution in front of a panel, composed of leading Egyptian and international experts.

Dr. Rasha Negm, General manager Fintech & innovation has added that “The conference will incorporate several panel discussions, interviews, presentations and workshops revolving around the latest trends and innovations in financial technology. An exhibition of more than 50 leading technology and innovative solution providers will be held on the sidelines of the conference, which avails an opportunity to learn about the latest innovations in the Fintech field”.