In this episode of “No Free Lunch,” host Greg Stewart engages with Amish Shunker, Head of Trade for Africa at Standard Bank, to explore the evolving landscape of payments and trade in Africa. The discussion highlights Africa’s role as a hub for fintech innovation, driven by mobile-led economies and digital-savvy consumers. Amish shares insights from his extensive career in financial services, emphasising the transformative impact of technology on banking and trade across the continent.
Amish reflects on his journey from Accenture to Citibank and finally to Standard Bank, noting the significant changes in the banking sector over the years. He underscores the importance of technology adoption in Africa, which has enabled growth, risk mitigation, and efficiency for clients. The conversation delves into the challenges and opportunities in intra-African trade, with a focus on the role of financial services in facilitating transactions and managing risks.
Our Discussion highlights the shift in client expectations, driven by advancements in technology and user experience. We also cover the need for banks to consolidate services and provide tailored solutions to meet the evolving demands of clients. The episode concludes with a forward-looking perspective on the future of trade finance and the critical role of technology in enhancing efficiency and transparency in financial services.
Listen Here:
Key Quotes From Amish:
- “The advent of technology and the adoption of technology in an African context has been transformative.”
- “Clients are now very interested in how they’re going to be accessing financial services from a financial institution.”
- “Technology presents the same solutions that all of our banks offer to a client, but it enables them to do it in an efficient way and in a transparent way.”
- “The biggest contributor of intra-African trade as an export market is probably South Africa.”
- “There’s a lot more demand for banks to consolidate and present one working platform for clients to access financial services.”
- “Efficiency and transparency are becoming a lot more important as clients themselves are investing in making their operations more efficient.”
