This year, I have attended two Money2020 events, Bangkok and Amsterdam.
My name is Ola Daramola, CEO of Bluebulb Technologies, an FX and cross-border payment startup from Nigeria. This is what I learnt about the future of finance.
1. The future of finance is payments
A whole new sector is emerging. Eventually, banks will focus on storing money (deposits and loans) — while payment companies will own its mobility. What was once a small unit in banking has exploded into a thriving ecosystem of its own.
2. Collaboration is no longer optional
SponsoredToo many of us are solving the same problems. Remittances, for example, are in a race to zero. While some corridors still enjoy a 3–4.5% margin, others barely make 1%. With rising costs in talent, technology, and compliance solutions, many businesses are walking a tightrope.
African founders need to detach emotions from business and emulate these recent key collaborations:
- Visa acquiring Currencycloud
- Railsr merging with Equals Money
- dLocal’s impending acquisition of AZA Finance
While it’s admirable to aim for legacy-building ventures, your greatest focus should be on identifying the next best possible collaboration, because partnerships, not pride, drive lasting progress. If smaller founders don’t start finding the right synergies — and putting ego aside — many will fall to the ‘sudden death syndrome’.
3. Africa must speak with one voice
Want to feel the depth of stereotype? Tell someone in the West that you’re building a financial services company out of Africa. The first look is: “Wow… how many violations today?” And even after explaining your strict AML and sanction screening protocols, the next question is, how did you get the exposure to these frameworks, and how can you possibly afford them?
Regulators in emerging markets need to lead in shattering this perception. Without united credibility, the next unicorn from Africa may never make it. Regulatory fragmentation and outdated views are holding us back, and they will continue to place a premium on rendering value to us.
See also: 10 African startups that attended Money2020 USA
4. AI is no longer a “Tech Thing” — it is a global language
Like English in global business, AI is now a foundational skill. It is transforming everything from credit scoring and fraud detection to customer support and personalisation. If you’re not learning the language, you’re already behind.
5. Infrastructure is the secret sauce
Gone are the days when deep pockets won the race. Today’s customers are informed and impatient. Whoever cracks real-time settlement between Africa and the West — with seamless UX — will dominate. It’s a winner-takes-all scenario.
6. Open Banking is the bedrock of the future
We’re moving into a world where financial data integrates with your phone, healthcare, and transportation — all connected through a single source of truth. Open banking isn’t innovation anymore; it is infrastructure for digital trust. Consent is central, access is standardised, and control is unviolated.
7. Regulators must eat the humble pie
Refereeing from the sidelines doesn’t work anymore. The regions that will thrive are those where regulators are collaborators — part of the solution, not the obstacle. Innovators must be given a seat at the table where regulations are being crafted. Innovation and regulation must evolve side by side.
8. Digital Assets are inevitable
Crypto, stablecoins, digital currencies — they’re no longer fringe. In the near future, you’ll buy groceries, pay bus fares, even receive invoices in digital assets. Maybe even crude oil gets priced in it. Even if you’re not into it, study it. The world won’t pause for you to catch up.
In conclusion, a big shout-out to the veterans who paved Africa’s fintech journey. In ancient Rome, your name would be cast in stone. Your actions are similar to the liberation landmarks achieved by Harriet Tubman or Nelson Mandela.
One of them — the “notorious GB” of Flutterwave — reminded me that leadership is hard. I sat in awe watching him in back-to-back meetings for three hours straight. It reminded me that success looks good from a distance, but it takes relentless effort behind the scenes.
I thought I was the only one working endlessly. Thank you for breaking the barriers so we could liberate and scale through APIs.
What is your take on where the future of money is heading? Share with me on LinkedIn.
