James Sène: What people are asking for is service
The fintech revolution is shaking the pillars of traditional banking, and forcing an evolution of money that represents a paradigm shift in the world of finance. The second Fintech Talks focused on fintech trends, with a presentation by 11Onze Chairman James Sène.
Technology is changing everything, and at 11Onze we have been pioneers. “We anticipated all the things you see now: community building, agile digital banking, offshore banking, tokens like ‘Les Peles’, trends that will be ratified in 2022,” says Sène. “When you are immersed in change, sometimes you are not aware of it. But yes, we are pioneers,” he added, explaining how 11Onze has positioned itself in what is known as ’embedded finance’.
Fintechs are more efficient than traditional banks when it comes to providing an agile response to customer needs, thanks to their technology and analytics. “What people are asking for is service. Fintechs are here because there is a need, and the need has been created by the lack of service in traditional banking,” argues Sène.
Financial education and proximity are seen as two key aspects if this evolution of the financial world is to be inclusive and leave no one behind, especially the most vulnerable people. As Sène explains: “You can compensate for distance with truth and with the quality of the content you exchange. Institutions, such as the European Central Bank and many universities, are pushing very hard and very rigorously on the issue of financial education, because we will move to digital currency and people will be left out”.
If you want to watch James Sène’s Fintech Talk, you can find it in the Learn section.
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