Nigeria’s financial sector stands at a pivotal moment, with opportunities to chart a bold new path. For years, innovation has powered remarkable progress, expanding access, deepening inclusion, and reshaping how millions of Nigerians interact with money. Yet, as we prepare for the next chapter, one truth has become clear to me: innovation alone will not sustain our growth.
The industry must now embrace three intertwined pillars: innovation, collaboration, and compliance, if we are to build a financial ecosystem that is not only dynamic but also resilient and trusted. This is the conviction behind TechConnect 5.0, Interswitch’s flagship industry forum, which we are convening this October across Enugu, Abuja, and Lagos under the theme ‘UNITED FRONTIERS: Growth Powered by Innovation, Collaboration and Compliance’.
For over two decades, Interswitch has provided the rails for Nigeria’s digital payments, and as the landscape evolves with new entrants, emerging technologies like artificial intelligence and blockchain, and shifting consumer expectations, redrawing the boundaries of the future, the question is not how much more we can innovate, but how we can innovate collectively, responsibly, collaboratively, and sustainably.
This is why collaboration matters. The financial ecosystem is not a collection of silos but an interdependent network of banks, fintechs, regulators, corporates, and service providers. One player’s failure can ripple across the entire system. If we are to harness the full potential of digital finance, we must break down walls, share knowledge, and co-create solutions that lift the industry as a whole.
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Equally, compliance can no longer be treated as a hurdle. It is, in fact, the foundation of trust. In an era of rising cyber risks, data privacy concerns, and intensifying regulatory scrutiny, compliance is what assures customers that their money and their data are safe. It is what attracts investment and enables long-term growth. Seen this way, compliance does not stifle innovation; it enables it.
TechConnect 5.0 has been designed as more than just another industry event. It is a platform for dialogue and action, where stakeholders across the value chain can engage directly with new solutions, share lessons from real-world deployments, and forge partnerships that will outlast the forum itself. By staging it across three cities, including Enugu, Abuja, and Lagos, we are intentionally decentralising the conversation, ensuring that Nigeria’s financial future is shaped inclusively, not only from Lagos but from every region, driving growth.
As I reflect on the sector’s trajectory, I am convinced that Nigeria’s digital economy will not be defined solely by the speed of its innovation but by the strength of its collaboration and the depth of its compliance. Innovation will always spark the journey, but collaboration and compliance will determine how far and how sustainably we go.
The challenge before us is clear. If we want a financial ecosystem that is future-ready, globally competitive, and inclusive, then we must stop treating these three principles as optional. They are the united frontiers on which our future must stand.
That is the conversation we will drive at TechConnect 5.0. And that is the conversation I believe the entire industry must embrace urgently, collectively, and decisively.
Akeem Lawal is the Managing Director, Payment Processing and Switching (Interswitch Purepay). With over two decades of experience in the payments industry, he has been instrumental in driving financial innovation, deepening inclusion, and fostering collaborations that continue to shape Nigeria’s digital economy.
