In Summary

The tech experts with a background in banking and telecommunication also pitched for the integration of services of the two sectors, saying there is already a technology that can enable the two infrastructure coordinate and deliver services to their targeted audiences without compromising the much needed security of the data and other related important information.

With technology increasingly defining how business is done, technology savvy companies, have urged financial institutions and telecommunication companies to start thinking of collaboration before it is too late for them to do so.
Already, infrastructure to allow collaboration of the two economic sectors are available, waiting to be harnessed by banks and telecom companies, accor.

Interestingly, the two players are in the industry that is currently experiencing a wave of digital technology disruptions.
Speaking to the banking and telecom industry players in Kampala, senior tech programmers and developers from Red Hat, an American multinational software company and Eclectics International, a technology savvy company, said it is time the two industries—telecom and banking industry embrace the technology (digital) disruption for its reward is much greater for the future of the two businesses.

The tech experts with a background in banking and telecommunication also pitched for the integration of services of the two sectors, saying there is already a technology that can enable the two infrastructure coordinate and deliver services to their targeted audiences without compromising the much needed security of the data and other related important information.
“We are looking for collaboration of the two sectors so that economy can move fast enough, there is increasing inter-dependence between the two and there is no reason as to why they shouldn’t collaborate,” the CEO of Eclectics International, Mr Paul Mbugua said in an interview last week after pitching to the banking and telecommunication industry players.

Way to go
The Head of business development at Pride Microfinance, Mr Deo Kateizi, said shared platform is the way to go, given that banking is increasingly going digital. He said: “Our clients are in both banking and telecom sector so there is nothing wrong integrating our platforms better customer experience.”

iladu@ug.nationmedia.com