Young innovators say the financial technology (fintech) sector is gradually shifting from building simple financial applications to developing intelligent systems that support business operations, risk management, and decision-making.

Over the past decade, fintech innovations have played a major role in expanding access to financial services across Africa, particularly through mobile platforms that brought banking and payments to millions of previously underserved users.

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However, innovators say the next phase should focus on improving how companies manage financial processes internally and how financial institutions use data to make smarter decisions.

Emmanuel Ray Rwema, a 25-year old who works with OTIC Group, an enterprise focused on building artificial intelligence capacity and developing AI-powered solutions, said the fintech sector is entering a new era driven by intelligent technologies.

"We are moving beyond the traditional phase of fintech where the focus was on building mobile applications that support financial services. Now we are building intelligent systems powered by AI,” he noted.

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According to Rwema, these systems can analyse financial data, detect fraud, predict risk, and help banks make more informed decisions.

"What we mean by intelligent financial systems are systems that enable policymakers and financial institutions to make better decisions. They can analyse credit risk, detect fraud, and support predictive financial modelling,” he said.

While earlier fintech innovations made financial services more accessible, Rwema said the next stage must focus on impact.

"The previous generation of fintech made financial services accessible to more people. Now the challenge is to make financial systems more impactful and scalable. However, unlocking the full potential of AI in finance will require stronger skills development across the sector.”

Banks already have large amounts of data. But beyond having data, we need people who can operationalise it. Financial institutions need professionals who understand how to integrate AI into workflows and deploy intelligent systems effectively, he said.

Another development highlighted during the forum was the growing role of policy reforms aimed at enabling African fintech companies to expand across borders.

Rwema pointed to discussions around regulatory licensing passports, which would allow fintech firms to operate in multiple countries using a single licence issued in their home country.

"If a company receives a licence in one country, it could potentially operate across other markets within the same regional bloc without applying for separate licences in each country. That would significantly reduce barriers to scaling across Africa.”

Such initiatives, he added, could help strengthen collaboration across African markets and support the development of homegrown technologies built on African data.

Despite the growing momentum, innovators say greater efforts are still needed to involve young entrepreneurs in shaping the continent’s fintech future.

"We need to bring these conversations closer to the younger generation. If more young people understand the opportunities in fintech, they can build solutions that address real problems while driving economic growth.”

Frederic Muhire, the founder of Net People, a Rwandan technology company that develops digital payroll and human resource management systems, said many businesses across the continent still rely on manual systems to manage critical financial and administrative processes.

"As someone on the receiving end of fintech solutions, I can say the challenges are real for both companies and employees. Many businesses still rely on manual systems such as sign-in books, spreadsheets, and offline payroll calculations, which are time-consuming, prone to errors, and frustrating for everyone.”

Muhire explained that the integration of fintech automation tools could help companies streamline internal operations such as attendance tracking, salary calculations, and payroll distribution.

"With automation and digital tools, processes like attendance tracking, salary calculation, and payroll distribution become seamless. Employees get paid on time, HR teams can focus on strategy instead of repetitive tasks, and companies save valuable resources.”

Beyond efficiency, he argued that digital systems also help build trust within organisations.

"When employees see that technology ensures accuracy, fairness, and timeliness, confidence in the workplace grows. That trust then fuels productivity and loyalty,” he added.

Muhire also believes that integrating fintech solutions into everyday business operations remains an untapped opportunity for many African entrepreneurs.

"The opportunity for young African entrepreneurs is huge. Many don’t realise that integrating fintech solutions into everyday operations, is still a largely unexplored market,” he said.

Across the continent, governments and regulators are increasingly supporting fintech development through regulatory sandboxes, digital infrastructure investments, and innovation-friendly policies designed to help startups test and scale new technologies.

For emerging technology companies, however, the conversation is already shifting toward the role of artificial intelligence in shaping the next generation of financial systems.

Innovators say the future of fintech will increasingly depend on the continent’s ability to harness artificial intelligence, strengthen skills, and develop technologies that go beyond payments to transform how businesses and financial institutions operate.