The National Bank of Angola (BNA) last week announced the implementation of “Kwik”, a new platform for interoperability of the instant mobile transfer system, scheduled for January 2023.
The new system of instant mobile transfers, which will be managed by the Interbank Services Company (EMIS), will make it possible for customers of the various payment service providers to make transactions with each other, i.e. interaction with users that do not have the same application.
According to deputy governor of the National Bank of Angola, Rui Miguêns, the new platform will enable greater levels of integration in payment systems that are being developed outside the banking system in the country.
Rui Miguêns was speaking on Monday at the XI Banking Forum on the Digital Transformation of Financial Services, stating that in addition to Mobile and Instant Transfer System there was the launch in 2019 of the Innovation Lab of the Payment System of Angola ( LISPA).
The initiative includes an incubator for the development of fintechs and other start-ups not related to the financial system.
Since 2019, the BNA has received 602 applications for the various programmes, mostly created by university students.
Apart from LISPA, launched in September this year ( 2022), there was also the launch of Sandbox , which allows the creators of fintechs, insurtechs and other startups in the country to test their financial products and services in the market, in an environment supervised by the BNA, for a certain period.
Another challenge, according to the deputy governor of the BNA, is the introduction of “Open Banking” solutions, officially started with the approval in October this year by the Executive Committee of the Central Bank.
Of this “Open Banking” initiative, the BNA says it is taking steps, involving teams from EMIS and commercial banks.