No doubt, technological innovation enables sophisticated product development, better market infrastructure, and the implementation of reliable techniques for control of risks which helps businesses to reach geographically distant and diversified markets. Digital innovation has significantly influenced financial institutions’ operations.
The role play by tech innovations offers businesses and individuals to easily make transactions, check their account balance or even make transfers and engage in other banking operations on their phones.
According to Jim Marous, a financial expert and analyst, “financial institutions must be able to deliver an easy to navigate, seamless digital platform that goes far beyond a miniaturized online banking offering”. This statement pinpoints Ecobank’s vision of advancing its offerings and services for a holistic seamless digital operation with the appointment of Dr Tomisin Fashina in 2021 as its Group Executive, Operations and Technology.
Dr Fashina was appointed to occupy the position in addition to his existing role as the Managing Director of eProcess international. The appointment follows his antecedent of excellence and quality leadership skills.
Speaking on the appointment in 2021, Mr Ade Ayeyemi, the Group CEO of Ecobank, stated that: “Winning across operations and technology is essential for the Ecobank Group’s short, medium and long-term success, and is an integral requirement of our ongoing determination to continue to meet the evolving expectations of our customers.”
He said, “Tomisin is well experienced to ensure this, and his new role provides him with an overarching view of our operations and technology functions,” he submitted.
Highly skilled and regarded as a tech innovator and idea brainbox expert, Dr Fashina was appointed with aim of transforming and advancing the bank’s technology agenda while delivering seamless digital banking operations to its markets and satisfying its esteemed customers.
With over 30 years of experience, predominantly in technology management and financial services, Dr Fashina is a technology and innovation enthusiast. He’s a respected hard working and goal-getter technocrat.
His role is to lead Ecobank’s technology initiatives, advising and implementing the bank’s digital and payment strategies.
Before joining the Ecobank Group, Mr Fashina was the Chairman of the Board of Directors of Steward Bank Harare Zimbabwe.
He has also been Chief Executive Officer for Yookos, a social media company, and has held several positions at Barclays Bank, including General Manager & Head, Transactional Banking Products, and Channels Management and Director, Cash Management & Payments.
Prior to this, at Citigroup South Africa, he held leadership roles in its Global Transaction Services as Division Head & Director, Client Delivery, sub-Saharan Africa; and Division Head, Electronic Banking & Implementation, sub-Saharan Africa.
Dr Fashina has a BSc degree in Computer Engineering from Obafemi Awolowo University, a Master of Business Administration in Marketing from the University of Lagos and a PhD in Business Management in Leadership from Capella University, Minnesota, USA.
He has won numerous awards including, Technology Person of the Year at the 11th edition of the prestigious, Ghana Information Technology & Telecom Award (GITTA), an annual award event that promotes and celebrates governments, IT operators, banks and other stakeholders who have distinguished themselves in advancing their business operations with cutting-edge technology.
TechBerg Magazine in this piece reviews some of his undertakings and achievements as the Group Executive, Operations and Technology of Ecobank in the last year of his appointment.
Ecobank’s Pan-African Banking Sandbox
Ecobank’s Pan-African Banking Sandboxallows partners and Fintechs across 33 African countries to gain access to its application programming interface to develop innovative financial solutions. As an avenue for collaboration between Ecobank and fintechs to develop the fintech ecosystem in Africa, Ecobank’s sandbox is an era-defining game changer for Africa’s financial sector.
Africa Financial Integration Initiative
Towards deepening financial inclusion in Africa, the Pan African bank built what Dr Fashina described as Ecobank Train with the focus of having a centralized technology to drive the bank’s “One Bank Strategy”. This means that the bank’s customers can experience the best banking service and onboard about 100 million Africans.
Ecobank is collaborating and procreating across board including partnering with fintechs. Ecobank developed a service that can help the bank engage with other players through APIs and sandbox to encourage other players to do businesses in Africa while leveraging on Ecobank’s wheel and facilitating the bank’s vision of financial integration of Africa.
Unveiling 24/7 Digital Experience Centre
Early this year, under the leadership of Dr Fashina, Ecobank Nigeria unveiled a state-of-the-art branch and digital experience centre which was strategically positioned at the heart of the highbrow Admiralty Way in the Lekki area of Lagos, Nigeria.
It was regarded as one of the bank’s digital transformation drives to provide seamless world-class banking services to its customers.
The Managing Director/Regional Executive, Patrick Akinwuntan, said during the unveiling, “for us as a bank, this new branch is part of our transformation efforts to satisfy our customers. The branch comes with a full complement of banking services; a 24/7 Digital Experience Centre and Dedicated Premier Lounge. It promises to offer customers the latest in banking technology.
Ecobank Fintech Challenge
Though in its fourth year, Ecobank in the last quarter of last year announced the 2021 finalists for its annual Fintech Challenge, a competition for Africa-focused technology start-ups. Five finalists were selected from various African countries.
The challenge was designed to help fintechs with Africa-focused products join forces with the leading pan-African lender to provide Africans with groundbreaking financial services.
Dr Fashina during the unveiling said “The five finalists in this year’s edition have shown impressive products from a competitive group of nearly 900 applicants. I would like to personally congratulate them and express my excitement at the opportunity to work with them to bring their innovative ideas to fruition.”
All the finalists were enrolled on Ecobank’s Fintech Fellowship where they spent six months exploring partnership opportunities, including multinational product roll-out, roll-out provider partnerships, mentoring and networking support and digital offering integration.
The top three finalists received cash prizes of US$15,000, US$12,000 and US$10,000 respectively.
Africa Fintech Summit (US) Recognition
A few months ago, Africa Fintech Summit awarded Ecobank Group with the “Excellence in Fintech-Banking Relationships” award in recognition of the bank’s activities to support and facilitate fintech growth on the African continent. The award was given in Washington DC, United States of America.
Dr Fashina at the award ceremony said the award is well deserved as it was attributable to the Pan African Bank’s unparalleled influence in Africa and its unwavering support and numerous initiatives aimed at fostering relationships with fintechs to jointly win in the marketing place, stressing that the bank has put structures and initiatives in place to collaborate and cooperate with fintechs to facilitate the bank’s vision of financial integration of Africa.
According to him, as a bank, “One of its strategic objectives is to bank 100 million Africans, across Africa. We won’t go out there with account opening documents to do this.”
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Launching of Ellevate Leadership Training Programme
In May this year, Ecobank announced the launching of its Ellevate Leadership Training Programme in partnership with the Global Business School Network (GBSN).
The Ellevate Leadership Training Programme forms part of ‘Ellevate Equip’, the brand name for all capability and training support initiatives for Ellevate by Ecobank, the bank’s gender financing programme.
The Leadership Training programme is being delivered to an initial cohort of 40 top-tier Ellevate customers from 10 African countries: Cameroon, Ghana, Kenya, Liberia, Malawi, Nigeria, Sierra Leone, Uganda, Zambia and Zimbabwe.
Youth Support Programme
Similarly in January Ecobank Nigeria in partnership with Learntor, a comprehensive Agile Digital Transformational training and consultancy company provided intensive Digital Technology training for select youths being part of the bank’s youth development initiative.
The training was focused on developing the capacity of the youths in Agile, Scrum, Data Analytics, Business Analysis, Cyber Security, and Scrum Master Certification.
Conclusion
As a visionary leader, Dr Fashina will continue to deploy different initiatives and technology solutions that will further position Ecobank as a leading financial institution in Africa.
Ecobank as a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals will continue to be a frontrunner in deepening financial inclusion in Africa especially with Dr Tomisin Fashina as the brainbox of the bank’s digital drive.
