Jay Zhou, Managing Director, Huawei Cloud, South Africa

As the next generation of financial services technology, the goal is to make banking easier and, more importantly, safer for people.

This is because fintech solutions enable digital payments, while at the same time eliminating challenges like losing your bank card or having it stolen. Fintech solutions allow users to utilise their cellphones for transactions and leverage multifactor authentication (MFA) for security. This means that, unlike with a bank card, any criminal trying to use the device would likely still require a fingerprint or a one-time PIN (OTP) to be able to access the account.