Mgbechikwel: Innovation Plays Pivotal Role in Transforming Financial Services Landscape in Africa

Head of Innovations and Product Development at Coronation Registrars Limited, Ekene Mgbechikwel, in this interview with Kayode Tokede, said innovation plays a pivotal role in transforming the financial services landscape in Africa, how innovation is the key to unlocking access to financial services for the millions who have been underserved or excluded by traditional banking systems. Excerpts

How do you see the role of innovation in shaping the future of financial services, particularly in the African context?

Innovation plays a pivotal role in transforming the financial services landscape in Africa. By embracing technology and innovative solutions, we can overcome traditional barriers to financial inclusion, drive economic growth, and empower individuals and businesses across the continent to achieve their financial goals. Innovation is the cornerstone of progress, and nowhere is its potential more transformative than in the realm of financial services, especially within the dynamic landscape of Africa. Here, innovation isn’t just a buzzword; it’s the driving force propelling economies forward, empowering individuals, and reshaping the very fabric of society.

Picture this: a continent brimming with untapped potential, where traditional barriers are being dismantled by the power of innovation. In Africa, financial inclusion isn’t just a goal; it’s a necessity. And innovation is the key to unlocking access to financial services for the millions who have been underserved or excluded by traditional banking systems. Look at what we at Coronation Registrars is doing with our Capital management solutions.

From mobile money revolutionizing payments to blockchain technology transforming remittances and dividend payments, the African financial services sector is a hotbed of ingenuity and disruption. But innovation isn’t just about flashy technologies; it’s about solving real problems and meeting the unique needs of diverse communities.

In this context, the role of innovation is multifaceted. It’s about creating inclusive financial ecosystems that cater to the unbanked and underbanked, providing them with the tools and resources they need to thrive. It’s about leveraging data analytics and AI to drive financial literacy and empower individuals to make informed decisions about their money. It’s about fostering partnerships and collaboration across sectors to drive innovation at scale and amplify impact.

How do these digital solutions align with Coronation Registrars’ broader strategic goals and vision for the future?

Imagine Coronation Registrars as a ship charting its course through the vast seas of innovation and opportunity. At the helm of this journey, our digital solutions serve as the compass, guiding us towards our destination of unparalleled success.

Our broader strategic goals and vision for the future are anchored in our commitment to delivering excellence, driving efficiency, and enhancing the customer experience. Now, let’s set sail into how our digital solutions align perfectly with these aspirations:

Our digital solutions streamline processes, automate tasks, and eliminate inefficiencies, ensuring smooth sailing on our journey towards operational excellence. By digitizing workflows and harnessing the power of automation, we navigate through tasks with speed and precision, freeing up valuable resources to focus on strategic initiatives.

At the heart of our vision lies the desire to provide unparalleled service to our clients. Our digital solutions empower us to better understand and anticipate their needs, delivering personalized experiences that set us apart in the industry. Through intuitive platforms and seamless interactions, we strengthen relationships and build trust, laying the foundation for lasting partnerships.

Innovation is the wind in our sails, propelling us towards new horizons of possibility. Our digital solutions serve as the vessel through which we explore uncharted waters, pioneering new technologies and approaches that redefine industry standards. Whether it’s leveraging blockchain for secure transactions or harnessing AI for predictive analytics, we embrace innovation as a means to shape the future of registrar services.

In a world of constant change, agility is our compass. Our digital solutions are designed to be flexible and adaptable, allowing us to navigate through shifting currents and emerging trends with ease. Whether it’s scaling our operations to meet growing demand or swiftly adapting to regulatory changes, we remain agile in our approach, always ready to chart a new course towards success.

Ultimately, our digital solutions are not just tools; they are the harbors where success finds its anchor. By aligning with our broader strategic goals and vision for the future, they become integral to our journey, guiding us towards prosperity and growth.

Can you provide an overview of the innovative digital solutions developed by Coronation Registrars and their impact on investor relations?

Certainly. At Coronation Registrars, we have introduced innovative solutions such as ShareholderLive, which is a platform built to service our shareholders where they can view their portfolio value and valuations among other services. We have IssuerLive, which is an analytics platform tailored to help our issuing companies manage their shareholders and shareholding reports. We have Coronation eMeetings solution, which is an all-inclusive meetings management solution that can help a group or organization host their virtual, hybrid and in-room meetings. We have our Capitalization table solution, CapTable by Coronation which a platform that help company founders track and manage their equity and finally our Equity-Based Crowdfunding platform which connects startup companies with investors with the aim of raising funds for their business. These digital tools have revolutionized investor relations by providing seamless communication channels, enhancing shareholder engagement, breaking into the startup market, and fostering transparency in corporate interactions.

As a female leader in the tech industry, what challenges have you faced, and how have you overcome them to drive innovation within Coronation Registrars?

As a female leader in the tech industry, I’ve encountered a variety of challenges on my journey, but each hurdle has only fueled my determination to drive innovation within my organization.

One of the most prevalent challenges I’ve faced is breaking through the glass ceiling in a predominantly male-dominated field. Early in my career, I often found myself underestimated or overlooked simply because of my gender. However, I refused to let stereotypes define my capabilities. Instead, I embraced every opportunity to showcase my expertise, competence, and leadership skills. Through perseverance and unwavering confidence in my abilities, I gradually earned the respect and recognition of my peers and superiors.

One of the key challenges I’ve faced is navigating the gender dynamics prevalent in the tech world. Despite tremendous strides, the industry still grapples with gender bias and stereotypes. As a result, gaining credibility and earning respect as a female leader can sometimes be an uphill battle. Additionally, balancing the demands of a high-pressure career with the responsibilities of marriage and family life presents its own set of challenges, requiring careful prioritization and time management. I’ve had to juggle competing priorities and overcome the guilt of not always being present in every aspect of my life. I have also been able to allow myself some grace and also to understand that I cannot be successful at all at the same time.

The truth is there is no such thing as balance. That is being a woman. If you are a working woman, you are often not there as much as you’d like to be. So if I spend all day (and sometimes night) brainstorming with my team, I am ultimately missing date night with my partner; If I spend all my time on video calls to my family then I am missing an important board meeting deliverable. That’s what happens. Those are the trade-offs. You must com to terms with the fact that you’re going to miss one thing and be good at another. I’ve always said if I’m winning at one thing, I’m failing at another. And a lot of people say, ‘failure?’ And I say, ‘yes!’ I like to call it failure because it makes me feel better. However, I’ve come to realize that being a role model and paving the way for future generations of women in tech is a powerful motivator.

Another obstacle I’ve encountered is navigating the subtle biases and microaggressions that can undermine women’s authority and credibility in the workplace. Whether it’s being interrupted in meetings or having my ideas dismissed, I’ve learned to assert myself assertively and unapologetically. By speaking up and advocating for myself and other women in the industry, I’m actively working to dismantle the barriers that hinder diversity and inclusion.

Ultimately, overcoming challenges as a female leader and wife has reinforced my commitment to driving innovation and positive change within my organization. By embracing adversity as an opportunity for growth and leading with authenticity, empathy, and resilience, I’m paving the way for a more inclusive and innovative future in the tech industry.

Can you share any success stories or case studies that highlight the impact of Coronation Registrars’ digital solutions on clients and stakeholders?

Absolutely! Let me take you on a journey through the digital transformation successes of Coronation Registrars, where innovation meets impact. Imagine a seamless virtual platform where shareholders from across the globe convene effortlessly, making decisions with just a few clicks. With Coronation Registrars’ eMeetings solution, this vision became a reality for one of our esteemed clients. By transitioning their shareholder meetings to a digital format, we not only enhanced accessibility but also improved engagement levels. The result? A significant increase in participation rates, smoother decision-making processes, and reduced carbon footprint through paperless proceedings. Our eMeetings solution isn’t just about efficiency—it’s about fostering connectivity and collaboration in the digital age.

Picture a dynamic dashboard that empowers CEOs and finance teams to manage capital with precision and foresight. That’s exactly what our CapTable By Coronation solution delivers. By harnessing the power of real-time data analytics and predictive modeling, we’ve enabled our clients to optimize their capital allocation strategies, minimize risk, and maximize returns. From strategic investments to liquidity management, our innovative approach has unlocked new levels of financial agility and resilience, driving sustainable growth and value creation for stakeholders.

Step into the world of democratized finance, where every investor—big or small—has the opportunity to fuel innovation and entrepreneurship. Coronation Registrars’ crowdfunding platform has revolutionized the fundraising landscape, empowering startups and SMEs to access capital in ways never before imagined. Through our secure and user-friendly platform, entrepreneurs can showcase their vision, attract backers, and bring their dreams to life. Whether it’s launching a new product, expanding operations, or driving social impact, our crowdfunding solution is leveling the playing field and catalyzing economic growth one campaign at a time.

In summary, Coronation Registrars’ digital solutions have reshaped the landscape of corporate governance, investment management, and shareholder engagement. By harnessing the power of technology and innovation, we’ve empowered our clients to unlock new opportunities, drive growth, and achieve unparalleled success in today’s dynamic business environment.

How does Coronation Registrars prioritize data security and privacy in the development and implementation of its digital solutions?

At Coronation Registrars, safeguarding data security and privacy isn’t just a checkbox-it’s woven into the very fabric of our digital solutions, forming the bedrock of trust and integrity upon which we build our services. Here’s how we prioritize data security and privacy with creativity and unwavering commitment: Imagine our data security measures as a fortress, complete with layers of impenetrable defenses. From robust encryption protocols to multi-factor authentication, we leave no stone unturned in fortifying our systems against potential threats.

Just as knights protect the realm, we are the guardians of privacy for every piece of data entrusted to us. Through stringent access controls and anonymization techniques, we ensure that sensitive information remains shielded from prying eyes, honoring the sacred trust placed in us by our clients.

Our commitment to innovation goes hand in hand with our dedication to integrity. Each new digital solution undergoes rigorous scrutiny to ensure that it not only pushes the boundaries of what’s possible but also upholds the highest standards of data security and privacy

We empower our users to take charge of their data security and privacy through education and empowerment. From intuitive privacy settings to transparent data handling practices, we put the power back into the hands of those who matter most-our clients.

Just as a vigilant sentry keeps watch over the kingdom, we maintain constant vigilance over our digital ecosystem. Through proactive monitoring, threat intelligence analysis, and regular audits, we stay one step ahead of potential risks, preempting threats before they can materialize.

Compliance isn’t just a box to tick-it’s a way of life at Coronation Registrars. We embed a culture of compliance into every aspect of our operations, ensuring that data security and privacy aren’t afterthoughts but integral components of our DNA.

What role does collaboration play in driving innovation within Coronation Registrars, both internally and externally?

Collaboration is the heartbeat of innovation at Coronation Registrars, pulsating both internally and externally to fuel our journey towards pioneering solutions and transformative change.

Internally, collaboration serves as the cornerstone of our innovation ecosystem. It’s the fusion of diverse minds, perspectives, and expertise that ignites the spark of creativity. Within our walls, collaboration isn’t just encouraged; it’s celebrated as the catalyst for groundbreaking ideas to flourish. Whether it’s cross-departmental brainstorming sessions, hackathons that bridge technical and business acumen, or collaborative workshops that blend data analytics with design thinking, every interaction is an opportunity to inspire innovation.

Externally, collaboration extends our reach beyond boundaries, forging strategic partnerships that amplify our impact and accelerate our progress. We believe that innovation knows no bounds, and by collaborating with industry experts, startups, academia, and even competitors, we unlock new avenues of possibility. From co-creating disruptive technologies to participating in industry consortia aimed at shaping regulatory frameworks, our external collaborations are a testament to our commitment to driving collective progress.