FPM ASBL organized a forum under the theme “Branchless banking: When digital becomes a business accelerator”, on May 16 at the Lubumbashi Hotel in Lubumbashi. This forum brought together about 80 participants, including heads of financial institutions, micro, small and medium-sized enterprises, some experts in remote banking, etc.

The main objective of this forum was to popularize the different opportunities of remote banking, a catalyst for access to financial services at the national level, raise awareness among participants about the use of these services and facilitate contact between the different actors.

Ms Sephora Tshiyombo, representative of FPM ASBL, recalled the importance of this forum by stressing that FPM ASBL through this forum, aimed to establish its strategic role and added value in the adoption in the DRC of innovative digital finance models by the actors involved in the provision of financial services.

Three sub-themes were used at this forum by the panelists chosen by FPM ASBL.  Mr. Bossale Bongombe, representative of the Central Bank of Congo (BCC), presented the regulatory framework for digital financial services in the DRC. According to him, in order to facilitate access to financial products and services for a large segment of the Congolese population, the BCC has put in place an action plan based on four pillars: financial education; protection of financial services consumers; adaptation of the legal and regulatory framework and development of financial infrastructure.

“With an estimated population of nearly 80 million, the DRC is among the African countries with the lowest financial inclusion rate, at less than 20%, yet with regard to the penetration of mobile phones in the country and the development of new technologies, the telephone has become an indispensable tool for extending financial services to low-income populations, which generally represent the largest percentage of the population.

For this reason, the Central Bank of Congo has set up this regulatory framework to promote the emergence of digital financial services in order to extend them to the entire population. These are Instruction No. 24 of 11 November 2011 on Electronic Money Institutions and Instruction No. 29 of June 2016 on banking agents in order to relay these services in regions not yet served by traditional financial services,” explained Mr. Bossale.

As for Mr. Al Kitenge, an expert in digital finance, he presented “the hidden side of remote banking: innovations and opportunities” by demonstrating how business and opportunities can be created through this ecosystem. “Several products and services can be accessed via digital technology: non-bank financial products, banking products, consultations, intra-, extra-bank and international transfers, commercial appointments, credit requests, bookings and cheque book orders, etc.”

After talking about leadership and innovation in remote banking, Mr Kitenge presented examples of emerging digital countries, including three African countries – Tanzania, Rwanda and Kenya. In order to boost the DRC to join the list of digital consumers, a number of devices should be taken into account. A digital transformation in the DRC will only be possible if all actors are committed, in particular the government.

With regard to the creation of intelligent partnerships between the various operators in digital financial services, Mr Jean Kabongo presented the opportunities offered by mobile money.

Through his presentation on “Between financial institutions and electronic money institutions, how to create smart partnerships?”, Mr. Kabongo, presented strategic approaches to the development of smart partnerships between financial institutions and electronic money institutions. He concluded his presentation by encouraging the various actors to create partnerships. “The partnership between financial institutions and electronic money institutions should be seen as an opportunity for complementarity rather than a threat to competition, this partnership allows for the diversification of the offer, the product portfolio and improves the customer experience of financial institutions,” he concludes.

Following these presentations, some structures such as Rawbank, Orange money, MPESA and Airtel money presented their experiences in the field of remote banking, presenting some of the solutions provided. A discussion session was also scheduled after all the panelists’ presentations, and participants’ appreciation was expressed.