Breaking Banks What The Future Looks Like in Finance and Fintech: Jo Ann Barefoot, Nick Hughes and Brett King Live From Virgin Unite
Apr 17, 2025
Join Brett King as he chats with Nick Hughes, the father of M-Pesa and a pioneer in mobile money, and Jo Ann Barefoot, a fintech regulation expert. They delve into the fascinating origins of M-Pesa and its profound cultural impact in Kenya. The discussion shifts to the intersection of fintech innovation and regulation, highlighting how collaboration can drive financial inclusion. They also explore the potential of fintech in tackling global challenges, including climate change and carbon markets, emphasizing a future where technology serves society's needs.
AI Snips
Chapters
Transcript
Episode notes
M-PESA's Origin Story
- M-PESA started 20 years ago as a mobile microfinance project in Kenya funded by a UK government grant.
- It evolved into the first proper peer-to-peer mobile money transfer system, reaching millions rapidly.
Engage Regulators with Tech
- Work with regulators to ensure financial products thrive within existing frameworks.
- Modernize regulatory tech using AI to keep pace with fintech innovation.
Regulation Over Technology Limits
- The main constraint for fintech innovation today is regulatory, not technological.
- Incumbent resistance and regulation limit how we deploy existing seamless money movement tech.