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mohammed_ab

Creating a Strategy for the New FinTech Ecosystem - Belatrix Software - 0 views

www.belatrixsf.com/...creating-strategy-fintech

Fintech Strategy M-Pesa Alliances

shared by mohammed_ab on 13 Feb 21 - No Cached
  • 1. Millennials squared – a parable of a digital wallet and beer moneyEarlier this year Sam Crowder stood up at a televised baseball game, and held a sign asking his Mum to send him “beer money”. He included his Venmo account information. Thousands of people sent him money, as his sign went viral. Beyond sharing this story as advice in case you ́re ever thirsty and leave your wallet at home, what it reflects is how the use of new technologies may start with digital natives, but then rapidly spread to other generations. It reflects the inter-generational adoption of, and use of, FinTech technologies.So, when looking at the potential of new services, it is important not just to consider the young people who will adopt it. But what will happen when they introduce the technology to their friends and family. Millennials are the earthquake that shakes companies, and adopt new tech and services at lightning speed. The rest of us are the tsunami of adoption that follows and lead to exponential growth.
  • 2. Facebook, Amazon, Google or Ant Financial will become the largest retail bank in the worldIt’s 2020 and to apply for a loan, instead of going to your local bank branch, you quickly ask Facebook for approval. This is far from fanciful thinking. Even as of today, PayPal is arguably one of the largest retail banks — it has more money in deposits than all but the largest 20 US banks, and offers services from payments, to loans and credit cards (albeit currently via partners). But we believe that one of the major tech companies, whether that is Facebook, Amazon, Google, or Ant Financial (the financial arm of Alibaba) will not only transform retail banking, but rapidly become the largest retail bank in the world.“Some bankers and analyststhink that Google, Facebook, Amazon or the like will not fully enter a highly regulated, low-margin business such as banking. I disagree. What is more, I think banks that are not prepared for such new competitors face certain death”Francisco González, CEO, BBVA
  • hese major tech companies have the platform and the scale to upend retail banking. They already have a digital wallet which underlies the services that enable users to buy and sell on their platforms, such as Google Wallet and Amazon Payments. Facebook Messenger Pay is already available in the US while it recently received an e-money license from the Central Bank of Ireland. This means European users will be able to store and transfer money, and make online purchases. The transition to becoming the largest retail bank in the world will be swift and brutal for traditional banks.
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  • 3. Regulators finally make the pivot to supporting the FinTech ecosystemBitX, a bitcoin startup in Singapore, was looking to enter the UK and European markets. Instead of having an arduous journey gaining the required licenses and approvals as it would have expected in the past, BitX was accepted into the regulatory sandbox of the UK’s Financial Conduct Authority. This enabled it to test its services and build its product with the backing of the regulator. This kind of thinking reflects how in the past few years we have seen regulators move from hindering innovation and new services, to proactively supporting and strengthening the FinTech ecosystem.It is a challenging line to take, particularly in the
  • world of finance – to help create the framework and environment for innovation, while also protecting consumers and businesses. However, increasingly we see regulators getting this blend right.For example, the European Union’s Directive on Payment Services (PSD2) will create an EU-wide single market for payments. This will drive new opportunities and innovation in the payment sector, because it will force financial institutions to provide secure access for a third-party service provider to a customer’s online account. Meanwhile, we have seen regulatory sandboxes emerge not just in the UK, but in locations from Singapore to Australia. The US Treasury meanwhile recently announced it will start issuing special purpose national bank charters to FinTech companies.In the future, expect to see the emergence of “RegTech”. This will enable real-time interaction and analysis between regulators and financial institutions. Indeed, thi
  • ch as in New York, London or Singapore. So, although the UK dominates the world of fintech (generating an estimated £6.6billion in FinTech related revenue), leading organizations are looking for inspiration among the innovative services, products and ideas being created from Guadalajara, to Laos, to Kenya.In many cases we can see that the unique financial environment of these locations is resulting in novel ideas. For example, Guadalajara based start-up Kueski uses a person’s digital footprint to assess their credit worthiness – a particular challenge in Mexico where credit is not available to large swathes of the population. In Latin America Tigo Cash is a mobile financial service which already handles more cash than many financial institutions in the region. We will see markets and services emerging which are currently not on anyone’s map, and become some of the most important financial organizations in the world.
    • samiatazi
      samiatazi on 13 Feb 21
       
      this article points out 4 expectations for the fate of FinTech and Financial services. However, I think that the most interesting one is the last one which states that The effect of FinTech advancement is frequently made and experienced outside the usual Hub of Finance, for example, New York, London or Singapore. Giant Companies are searching for inspiration among innovative and creative products, items and thoughts being made from Guadalajara, to Laos, to Kenya. I really like this part too, stating that We will see markets and administrations arising which are as of now not on anybody's guide, and become the absolute most significant Fintechs on the planet.
  • software platform between itself and the banks, so it can view and analyze information in real-time.4. Look beyond the hubs to find innovative ideasAcross Kenya, mobile money has become ubiquitous – being used by at least one person in 96% of Kenyan households. But what is the real impact of mobile money in such countries? One study estimated that M-PESA, the Kenyan mobile money system which enables money to be stored on a phone and be sent via text, has helped lift 2% of Kenyan households out of poverty.What this example demonstrates is that the impact of FinTech innovation is often created and experienced outside of the usual hubs of finance su
  • In the past few years we have seen the rapid evolution of FinTech from generating novel ideas which solve customer problems, to offering core financial services. We have seen the shift from digital startups, characterized by a lack of financial wherewithal and which operated on the edge of tightly regulated markets, to the emergence of mature financial digital organizations at the heart of the traditional financial world.We can describe the development and maturing of FinTech in 3 main waves:The early emergence of digital startups helping consumers. Originally FinTech solutions were the preserve of B2C markets which solved specific customer problems such as offering home loans faster and easier. They used new technologies such as mobile and cloud computing, and were characterized by a laser focus on the customer with all the hall-marks of a digital Silicon-Valley style start-up.Transition to B2B markets. Today FinTech plays a role at the core of B2B innovation in financial markets, and industry observers widely expect B2B FinTech revenues to dwarf those in consumer markets within the next couple of years. Organizations such as Currency Cloud (cross border B2B payments), Payoneer Escrow (escrow services), and Hummingbill (B2B invoice platform) all reflect a maturing industry.The creation of an ecosystem between FinTech and traditional players. FinTech organizations are realizing that the required go-to-market investment, economies of scale, and regulatory needs, means it makes sense to partner with traditional financial institutions. On the other side, established players recognize the value, innovation and potential of FinTech in a world which is increasingly mobile-first. These financial institutions are also adopting many of the methods that FinTechs use so successfully, from a focus on the customer, to using Agile software development, to holding hackathons, and forming accelerators and innovation programs.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This excerpt is important because it shows the three waves that each fintech companies go through. Currently, most companies are still in b2b markets which an new innovative role in the financial markets; howver, not all companies are doing the same thing. Some of them still need a real bank ( Not virtual) to make transactions and don't trust softwares.
  • ch as in New York, London or Singapore. So, although the UK dominates the world of fintech (generating an estimated £6.6billion in FinTech related revenue), leading organizations are looking for inspiration among the innovative services, products and ideas being created from Guadalajara, to Laos, to Kenya.In many cases we can see that the unique financial environment of these locations is resulting in novel ideas. For example, Guadalajara based start-up Kueski uses a person’s digital footprint to assess their credit worthiness – a particular challenge in Mexico where credit is not available to large swathes of the population. In Latin America Tigo Cash is a mobile financial service which already handles more cash than many financial institutions in the region. We will see markets and services emerging which are currently not on anyone’s map, and become some of the most important financial organizations in the world.
    • ghtazi
      ghtazi on 13 Feb 21
       
      What this example shows is that beyond the usual finance hubs, such as in New York, London, or Singapore, the influence of FinTech innovation is also generated and experienced.
  • It’s 2020 and to apply for a loan, instead of going to your local bank branch, you quickly ask Facebook for approval. This is far from fanciful thinking. Even as of today, PayPal is arguably one of the largest retail banks — it has more money in deposits than all but the largest 20 US banks, and offers services from payments, to loans and credit cards (albeit currently via partners). But we believe that one of the major tech companies, whether that is Facebook, Amazon, Google, or Ant Financial (the financial arm of Alibaba) will not only transform retail banking, but rapidly become the largest retail bank in the world.
  • mohammed_ab on 13 Feb 21
     
    This article explains how the big e-commerce giant Amazon and the dominant social media platforms will become the largest retail banks in the future. I think that M-Pesa could benefit from strategic alliances or partnerships with these big giants.
aymanelmamoun

SimbaPay launches Kenya to China payment service over WeChat | TechCrunch - 1 views

techcrunch.com/...ina-payment-service-via-wechat

E-Payment Africa FinTech

shared by aymanelmamoun on 12 Feb 21 - No Cached
  • The new product — which piggy-backs on WeChat’s messaging service — is aimed at Kenyan merchants who purchase goods from China, Kenya’s largest import source.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      Simbapay developed a third party payment aggregator that enables funds delivery when the buyer and seller both use Wechat
  • Forging another link between Africa and China’s digital economies, the African-focused money transfer startup SimbaPay and Kenya’s Family Bank have launched an instant payment service from East Africa to China.
  • The new product — which piggy-backs on WeChat’s messaging service — is aimed at Kenyan merchants who purchase goods from China, Kenya’s largest import source.
    • aminej
      aminej on 12 Feb 21
       
      SimbaPay offers a new connection between Africa and China for people who buy their goods from there. Kenya is one of the biggest importers of products from China equivalent of 4 billion $ which is huge.
  • ...5 more annotations...
  • SimbaPay transfers funds to 11 countries — nine in Africa then to China and India. “Early next year we’ll increase this to 29 countries,” said Sagini. This includes offering the WeChat China payment service elsewhere in East Africa.
    • ghtazi
      ghtazi on 13 Feb 21
       
      I like how simbapay finds its way through the African market and will increase the countries where customers can transfer funds from 11 to 29.
  • SimbaPay and Family Bank will generate revenues on the WeChat-based transfer service through a fee share arrangement on transactions. “We have a sliding scale of charges [for the service]. For example, to send the equivalent of $80 will cost $3.50,” said Sagini.This presents a significant reduction of fees and opportunity cost for Kenyan traders who import from China, according to Sagini and Family Bank.Current available payment methods to China for Kenyan businesses are less secure and more expensive options, such as traditional money transmitters (Western Union), SWIFT and off the grid services, according to Sagini and Family Bank Chief Operation Officer (COO) Godfrey Kamau Kariuki.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is very important because it explains how SimbaPay plans on promoting Sino-Kenyan trade: reduction of fees and opportunity costs for kenyan traders importing from China through a partnership with the chinese WeChat.
  • “Kenya imports about $4 billion goods from China. That’s the total market that we’re getting into. We’re looking at a single digit market share of the transactional volume around that,” SimbaPay co-founder Sagini Onyancha told TechCrunch.“The users [of the new product] are primarily small Kenyan businesses, that import phones, gadgets, electronics…small to medium size traders who import goods from China,” he said.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it explains the reasons underlying SimbaPay's decision to launch an instant payment service from East Africa to China. Indeed, exchanges between Kenya and China are huge, and SimbaPay attempts to capitalize on this market. The potential users of this service are expected to be Kenyan small to medium-size business owners who import electronics from China.
  • SimbaPay and Family Bank estimate over seven million customers and businesses will be able to access their China WeChat payment service, based on projections of Kenya’s current SMEs.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this estimation can be reached because of the huge customer portfolio that china has. Plus kenya is known to be one of the main importers from China
  • SimbaPay and Family Bank will generate revenues on the WeChat-based transfer service through a fee share arrangement on transactions. “We have a sliding scale of charges [for the service]. For example, to send the equivalent of $80 will cost $3.50,” said Sagini.
    • aymanelmamoun
      aymanelmamoun on 13 Feb 21
       
      Reducing fees and opportunity cost for Kenyan traders importing from China is a very crucial step to Family Bank.
  • mehdi-ezzaoui on 13 Feb 21
     
    Forging another link between Africa and China's digital economies, the African-focused money transfer startup SimbaPay and Kenya's Family Bank have launched an instant payment service from East Africa to China.
hindelquarrouti

WorldRemit review 2021: Complaints, fees, rates | finder.com - 2 views

www.finder.com/-international-money-transfers

worldremit Benefits fintech

shared by hindelquarrouti on 11 Feb 21 - No Cached
  • What to watch out forMaximum daily limits. Transaction limits depend on how you are sending the money, while a total 24-hour cap of $9,000 applies to all transactions being sent by you out of the US.Changing fees. Depending on where you are sending to, how you are paying and how you are transferring money, your fees may vary. Although a base fee of $3.99 is applied to most transfers, keep an eye on this category when actually completing your transfer to make sure it doesn’t change.No hedging options. WorldRemit only offers one-off transfers, unlike some of its competitors that offer additional tools to help you save money. Hedging tools are most often used to lock in an exchange rate, helping you save money on future transfers if the market shifts against your position.Inconsistent markups. Exchange rates vary through WorldRemit and depend not only on the currency you are sending to but also on the destination country. Expect mid-market markups anywhere from 1-4%.
  • Easy-to-use website. Signing up and sending money can be done in as little as a few minutes, and support can be accessed through phone, email, live chat and FAQs.Worldwide network. Customers in more than 50 countries can send funds to over 150 countries using a variety of methods, including bank transfers, cash pickup at thousands of locations, door-to-door delivery, delivery to services like Alipay and more.Flexible payment options. Pay with a credit or debit card, from your bank account, through Apple or Google Pay and even with prepaid cards.Fast transfers. Cash pickups, WorldRemit Wallet transfers and airtime top-ups are typically available instantly after sending, while mobile money and bank deposits may take one or more business days to process.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      The boundaries of WorldRemit services are discussed in this article. Every service has its limits, so the company has to focus on this aspect to strengthen its services by asking the service users for feedback.
  • Cash pickups, WorldRemit Wallet transfers and airtime top-ups are typically available instantly after sending, while mobile money and bank deposits may take one or more business days to process.
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  • WorldRemit transfers can be sent from over 50 countries and received in over 150 countries.
  • WorldRemit uses many methods to protect your transaction and is authorized and regulated by many government agencies.
  • hichamachir on 11 Feb 21
     
    This article talks about the limits of WorldRemit services. I think that every service got its limits so the company has to work on this aspect in order to improve its services by asking about feedback for the service users.
  • hindelquarrouti on 13 Feb 21
     
    Besides aiming for financial inclusion, Worldremit offers a lot of benefit to its client since it is easy to use, as well as, it is a worldwide network with flexible payment options and fast transfers that are not available in traditional banking. This has created a competitive advantage for the company
mbellakbail69

Fawry | IBM - 3 views

www.ibm.com/...ware-flashsystem-power-systems

shared by mbellakbail69 on 07 Feb 21 - No Cached
  • Fawry now supports millions of transactions daily for consumers and business through more than 90,000 locations (including groceries, pharmacies, stationaries and post offices), as well as through multiple alternative channels, including online, ATMs, and mobile wallets. The company’s client base and service offerings continue to expand, leading to rapid data growth. Abbas comments: "Our data has doubled in just the last eight months, and we expect it to grow even faster in the years to come.”
  • The technology offers data compression and deduplication features that enable Fawry to boost utilization of storage resources. Abbas adds: “IBM FlashSystem A9000R offers much greater performance than our previous storage platform, meaning that we get both optimized data economics and short response times. We were able to achieve a seamless migration to the new platform with zero downtime.”
  • Each day, Fawry processes 2 million financial transactions, giving Egyptians an easy, secure payment alternative to the complex, time-consuming procedures that are the norm. To help grow customer satisfaction and speed the roll-out of new services, Fawry deployed IBM® Storage, IBM Db2® and Oracle database on IBM Power Systems™ solutions.
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  • With a population of over 100 million people, Egypt is a land of opportunity for consumer services providers. In a country where payment procedures are often slow, fragmented and complex, Fawry identified a gap in the market for a simple, secure omnichannel payment gateway.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it introduces the need that Fawry was created to tackle and the market gap that it saw as an opportunity to prosper. It is very important to understand the core problem around which Fawry services were designed, in order to be able to design and develop strategies that are faithful to this same goal.
  • Fawry now supports millions of transactions daily for consumers and business through more than 90,000 locations (including groceries, pharmacies, stationaries and post offices), as well as through multiple alternative channels, including online, ATMs, and mobile wallets. The company’s client base and service offerings continue to expand, leading to rapid data growth. Abbas comments: "Our data has doubled in just the last eight months, and we expect it to grow even faster in the years to come.”
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      Fawry strives to make the life of their customer simpler. They have an e-commerce solution that links sellers to buyers that provide different methods of payment.
  • Fawry Putting Egypt on the global digital payments map
  • The company’s success is built on delivering consistently fast, dependable services alongside continual innovation. Seeing an opportunity to do more with its data, Fawry evaluated its technology infrastructure to ensure it was ready for the next phase in its evolution.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Fawry focuses on fast and dependable services based on innovation. The company also works on making better use of the data collected to make informed decisions; while keeping in mind the importance of a good technology infrastructure ready for the implementation of any new phase.
  • Haytham Abbas, Infrastructure Director at Fawry, picks up the story: “When we launched in 2008, the average household had to deal with around 13 separate utility and service providers. Since they typically had to set up payments with each service provider separately, often by visiting a branch, this was a lot of hassle. We created an omnichannel digital payment network to make life easier for consumers and the businesses that serve them.”
  • Fawry has a long history with IBM, having chosen IBM solutions to underpin its business again and again over the last decade. The company relies on both IBM Db2 and Oracle database software running on IBM Power Systems to support its bespoke electronic financial platform, processing 2 million transactions per day. “Together, IBM Db2, Oracle database and IBM Power Systems solutions give us the ability to process huge transaction volumes,” comments Abbas. “They provide a powerful foundation for our business, and have scaled seamlessly as we’ve grown.”
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      To ensure that it selected the best offerings on the market for its latest refresh, the company's IT team undertook a thorough evaluation of storage and server options from multiple vendors.
  • chaimaa-rachid on 07 Feb 21
     
    Fawry aims to make their client's life easier. They have an e-commerce solution that connects sellers with buyers offering various payment methods.
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  • hichamachir on 12 Feb 21
     
    The success of the compnay relies on its partnerships. Fawry's partnership with IBM is brilliant because IBM can offer Fawry some advanced technology that can help improve the business.
  • hindelquarrouti on 13 Feb 21
     
    Fawri is a secure alternative to the traditional procedures. It is user friendly and Egiptians are benefiting from it.
  • kenza_abdelhaq on 13 Feb 21
     
    "The company's success is built on delivering consistently fast, dependable services alongside continual innovation. Seeing an opportunity to do more with its data, Fawry evaluated its technology infrastructure to ensure it was ready for the next phase in its evolution."
hindelquarrouti

Fawry changing the culture of payment in Egypt: Top management - Daily News Egypt - 1 views

dailynewsegypt.com/...e-payment-egypt-top-management

fawry Fintechs Services

shared by hindelquarrouti on 11 Feb 21 - No Cached
  • our solution is based on high technology and based on Service Oriented Architecture (SOA) standard. We are highly available and our system is scalable as it can carry huge numbers of transactions. We are now certifying for the Payment Application Data Security Standard (PA-DSS) for security development and we’re following the standards of the Interactive Financial Exchange (IFX), ISO27001 and other different standards related to technology and security. Our solution is based on applying the latest technology, following the latest standards and being reliable. Moreover we allow easy access through more channels than competition to satisfy our customers’ needs. Also we’re covering more sectors and providing more services than our rivals.
  • Fawry is an Egyptian company that started in 2009 with the purpose of offering electronic payment services through several payment channels. The service started at banks and a big network of outlets all over the republic as well as Egypt post.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      The business aims to be creative as much as possible and to make all its offerings very realistic in order to make it simpler for its customers. Fawry cares a lot about the happiness of its customers. I believe Fawry recognizes the value of customer loyalty and how it allows an organization to retain profitability.
  • Fawry is an Egyptian company that started in 2009 with the purpose of offering electronic payment services through several payment channels. The service started at banks and a big network of outlets all over the republic as well as Egypt post.1 Now we are covering about 60 types of bills, where we cover the telecommunications sector and lately we covered all electrical companies in the country and some water companies. We also offer our services at universities and syndicates. Adding to that, users can now buy their airline tickets through us.
  • ...1 more annotation...
  • Fawry is an Egyptian company that started in 2009 with the purpose of offering electronic payment services through several payment channels. The service started at banks and a big network of outlets all over the republic as well as Egypt post. Now we are covering about 60 types of bills, where we cover the telecommunications sector and lately we covered all electrical companies in the country and some water companies. We also offer our services at universities and syndicates. Adding to that, users can now buy their airline tickets through us.
  • chaimaa-rachid on 11 Feb 21
     
    Fawry cares a lot about the satisfaction of its customers, the company tries to be innovative as much as possible and to make all its services very practical in order to make life easier for its customers. I think Fawry knows the importance of customer satisfaction and how it helps a business maintain sustainability.
  • hindelquarrouti on 13 Feb 21
     
    Fawry is gaining more and more popularity in Egypt. Also, it has developped two methods of payments: 1) anonymous: in which customers can pay their bills without actually revealing their identity. 2)Account creation: in this case the customers need to create an account with Fawry; this last one makes the process much easier for the customer
mehdibella

"WatchIT" Provides its Services Electronically through "FawryPay" - Fawry - 0 views

fawry.com/lectronically-through-fawrypay

Kiva kenya Nairobi Fintech finance

shared by mehdibella on 13 Feb 21 - No Cached
  • In the framework of its concern in making it easy for citizens to pay for accessing its e-services via the Internet, in order to reach a society more dependent on electronic payments; WATCH iT! has announced signing a partnership agreement with Fawry the leading Fintech network in Egypt to offer its services through “Fawry Pay” to the public. WATCH iT! It is the first of its kind in Egypt and the newest in the Middle East and North Africa, where the number of its users reaches 1.5 million users and has a huge library the most diverse, containing more than 650 thousand entertainment hours of movies, series and programs that suit all ages.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      Fawry has signed up an agreement with Watch IT in order to expand the Fintech network and encourage online payment in Egypt. Therefore, I believe that this partnership will enable both businesses to reach more customers, increase productivity, and therefore increase profits.
  • In the framework of its concern in making it easy for citizens to pay for accessing its e-services via the Internet, in order to reach a society more dependent on electronic payments; WATCH iT! has announced signing a partnership agreement with Fawry the leading Fintech network in Egypt to offer its services through “Fawry Pay” to the public.
  • "WatchIT" Provides its Services Electronically through "FawryPay" - Fawry
  • ...2 more annotations...
  • Mohamed Okasha, Managing Director of Fawry, said that the partnership with WATCH iT! is the result of a joint cooperation to provide outstanding services to customers, highlighting that “Fawry Pay” payment methods include payment either cash through any of Fawry outlets or online using credit cards (MizaCard, MasterCard and Visa) in addition to bank channels linked to Fawry’s network (ATM, Internet banking, mobile wallets) and also through “myFawry” application available for smart phones.
  • “Fawry Pay” platform provided by Fawry for the online shopping sector, offers customers different payment methods and various e- services. Over one million and 100,000 transactions were made on “Fawry Pay” platform during this year till the end of August 2019 for more than 280 e-merchants dealing with the service.
ghtazi

Financial Services & Banking Technology | JUMO - 0 views

www.jumo.world

Jumo risks technology cost-effective

shared by ghtazi on 07 Feb 21 - No Cached
  • Get the ability to provide banking services to people who were previously unreachable, thanks to a lower cost of risk and the ability to accurately predict future behaviour.
  • Unlock the value of individuals’ digital footprints and power a generation of entrepreneurs, small businesses and communities with real financial choice.
    • kenzabenessalah
      kenzabenessalah on 07 Feb 21
       
      JUMO not only provides fast, secure, and cost-effective financial services, but it is able to give an opportunity to entrepreneurs who are new to the market to invest and make money.
  • Credit Our lending products give entrepreneurs quick access to funds or asset finance. The loan amount, life cycle and repayment method can be configured to fit the needs of the individual. Savings JUMO builds and operates short-term, structured and long-term savings products that bear interest. They’re available to anyone who needs a safe place to store and grow their money. Insurance JUMO is able to work with underwriters and insurers to create standalone or wrapped insurance products to safeguard incomes, families, assets and businesses, no matter how small. Points We’re developing a white label points programme that can be used as a tool to drive and incentivise mobile transactions and empower people to build a personal, digital financial profile.
    • ghtazi
      ghtazi on 08 Feb 21
       
      in this article, we can see all of the financial services that jumo is offering. they presented a new wave of financial products such as credit, saving, insurance, and points. this website shows us how Jumo has redefined the banking service for a mobile, digital age, and has built a full technology stack to create financial services for everybody.
  • ...2 more annotations...
    • aminej
      aminej on 09 Feb 21
       
      This website shows that JUMO is a service that provides insurance, savings and lendings to entrepreneurs in developping countries. There are five different types of services like credit, savings, insurance and points for loyal customers. It is a very safe service backed with advanced data engine and end to end banking technology. Finally, their main customer target are entrepreneurs and people who want to start their own business and who own a phone.
  • This cloud and AI-powered technology stack connects banks with traditionally inaccessible customers in cost-effective, low-risk and responsible ways. Today our partners deploy loans, savings and insurance services from Africa to Asia, helping entrepreneurs in emerging markets to grow and prosper.
    • ghtazi
      ghtazi on 13 Feb 21
       
      in this article, it shows that JUMO ensures security and low risks to its customer. it aims to deploy loans, savings, and insurance services from across the globe so that it can help entrepreneurs with their projects in emerging markets.
hindelquarrouti

The launch of MasterCard Bill Pay services in cooperation with Fawry | Al Bawaba - 0 views

www.albawaba.com/vices-cooperation-fawry-384022

MasterCard Fawry Payments

shared by hindelquarrouti on 12 Feb 21 - No Cached
  • For the first time in Egypt, MasterCard Worldwide has teamed up with Fawry, the nationwide Electronic Bill Payment and Presentment (EBPP) network, to launch MasterCard Bill Pay services to enable MasterCard cardholders to use their cards for bill payments and mobile top-up via Fawry’s retail network. MasterCard cardholders can now settle their Internet, mobile and fixed line bills and also utilize the top-up payment services through Fawry-MasterCard enabled retail locations across Egypt.
  • For the first time in Egypt, MasterCard Worldwide has teamed up with Fawry, the nationwide Electronic Bill Payment and Presentment (EBPP) network, to launch MasterCard Bill Pay services to enable MasterCard cardholders to use their cards for bill payments and mobile top-up via Fawry’s retail network. MasterCard cardholders can now settle their Internet, mobile and fixed line bills and also utilize the top-up payment services through Fawry-MasterCard enabled retail locations across Egypt.
  • For the first time in Egypt, MasterCard Worldwide has teamed up with Fawry, the nationwide Electronic Bill Payment and Presentment (EBPP) network, to launch MasterCard Bill Pay services to enable MasterCard cardholders to use their cards for bill payments and mobile top-up via Fawry’s retail network. MasterCard cardholders can now settle their Internet, mobile and fixed line bills and also utilize the top-up payment services through Fawry-MasterCard enabled retail locations across Egypt.
  • ...2 more annotations...
  • This is the first time the service has been introduced in Egypt and MasterCard cardholders will be the first to enjoy this fast, easy, secure and convenient bill payment channel. MasterCard and Fawry opted to launch this service in Egypt as a key market in the Middle East and Africa regions.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      MasterCard is committed to offering creative transaction solutions for the Egyptian industry, which is continuously evolving electronic installments. MasterCard replied to the needs of Egyptian consumers, who are continually progressing and need to make their regular payments with more adaptable and safe payment options.
  • Recognizing the need to continue providing our customers with innovative payment options, we worked closely with MasterCard to offer cardholders a new and convenient method for bill payments,” said Ashraf Sabry, CEO, Fawry
  • chaimaa-rachid on 12 Feb 21
     
    MasterCard is devoted to delivering innovative transaction solutions for the Egyptian market where electronic installments are continually developing. MasterCard tended to the necessities of Egyptian customers, who are consistently progressing and require more adaptable and secure payment choices to make their everyday installments.
  • hindelquarrouti on 13 Feb 21
     
    It is remarkable how a company like Fawry, that started in a market with a considerable number of unbanked people, and sceptical people regarding online financial payments, made it to a partnership with MasterCard.
nourserghini

Send money to M-PESA accounts in Kenya - 0 views

www.worldremit.com/...m-pesa

Mpesa Mobile-money Kenya Services

shared by nourserghini on 09 Feb 21 - No Cached
    • aminej
      aminej on 09 Feb 21
       
      I believe that M-PESA is one of the most developped and interesting fintechs in Africa and I'm sure it will expand to different places in the world. It a virtual banking system (mobile money service) that offers transaction services through a SIM card on a mobile phone. It is a very safe method of sending and receiving money very fastly and conveniently even for people who live in rural areas which is the case for most of people in the African continent.
  • M-PESA Kenya is an electronic mobile money service that allows you to store, send and receive money on your mobile phone. With an M-PESA account, you can transfer cash and shop for products and services. You can also withdraw cash by visiting an agent (typically in a corner shop) or transfer it to others from your phone. This makes it a quick, safe and simple way to make payments and handle money.
  • M-PESA is a virtual banking system (mobile money service) that offers transaction services through a SIM card on a mobile phone. In Kenya this must be with a Safaricom SIM card. The SIM card is inserted into the card slot of the mobile device and users can receive and store money, as well as make payments and transfer money to vendors and family members using SMS messages.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      M-PESA doesn't require something complex for customers to make use of its services, they just need a SIM card.
  • ...1 more annotation...
  • Why use M-PESA to send money to Kenya?Money is added instantly to M-PESA accounts once payment is approved.Your recipients don’t have to carry large amounts of cash with them, which can be unsafe.There’s no need for your recipient to travel to a pickup location, they will have the money delivered right to their phone. It couldn’t be easier!
    • nourserghini
      nourserghini on 13 Feb 21
       
      This part explains the facility of sending money to Kenya through M-pesa as money is added instantly and is delivered directly to the phone.
ghtazi

Mukuru international money transfers review | Finder South Africa - 0 views

www.finder.com/...mukuru-money-transfers

Deposit Payment Methods

shared by ghtazi on 13 Feb 21 - No Cached
  • Mukuru specialises in single transfers to friends and family, whether over the phone, through the app, online, bank transfers or through one of its branches. You can’t set up a recurring transfer through Mukuru and it doesn’t specialise in business transfers.You can make transfers to any of the following, depending on the country you’re sending to:Bank account. The money will be deposited directly into the bank account you choose. You’ll need to know the SWIFT code as well. This option is currently available for all supported countries.Cash pick-up location. You can send money to a cash pick-up location for your recipient to collect. If you choose this option, the person picking it up will need a valid photo ID on hand and the reference number. You’ll only be able to use this for transfers to Zimbabwe, Malawi, Namibia and Zambia.Mobile wallet. Send to your recipient’s smartphone wallet. This option is helpful if your recipient doesn’t have a bank account and isn’t near a cash pick-up location. You can use it in Zimbabwe, Malawi and Mozambique.Top-up card collection. This is used when you want to send money directly to your recipient’s card. You’ll need their card number and address. This is currently only available in Zimbabwe.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Mukuru proposes numerous services, however I believe that they should step up and propose new different services. Banks propose similar services. They should take advantage of new technologies and online platform to expand more.
  • The supported payment methods vary depending on where you are in the world but from South Africa, you’ll have a few options: make a cash deposit at one of Mukuru’s partner branches, online or telephone banking, bank transfer or through a Mukuru Money prepaid debit card, which all customers in South Africa qualify for. South Africa is the only country in Africa that allows bank transfers with Mukuru.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Depending on where you are in the world, the supported payment methods differ, but you will have a few choices from South Africa: make a cash deposit at one of Mukuru's partner branches, online or telephone banking, bank transfer, or via a prepaid debit card for Mukuru Money, which all South African customers apply for. The only country in Africa that makes Mukuru bank transfers is South Africa.
sawsanenn

http://etd.aau.edu.et/bitstream/handle/123456789/17174/Ayalew%20Lake.pdf?sequence=1&isA... - 3 views

etd.aau.edu.et/...Ayalew%20Lake.pdf

FinTech E-payments ethiopia issues Online

shared by sawsanenn on 11 Feb 21 - No Cached
    • kenzabenessalah
      kenzabenessalah on 11 Feb 21
       
      The important aspect to take from this pdf is that due to EthioPay's reliable and beneficial platform, Ethiopian banks have begun to adopt its method. In my opinion, this adoption is essential to the Ethiopian population because it leads to efficient and effective financial services.
    • kenzabenessalah
      kenzabenessalah on 11 Feb 21
       
      The key message to take from the pdf is that banks have adopted EthioPay methods due to its reliable, secure, and efficient transactions.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      What I conclude is that EthioPay payment service offers numerous advantages for both banks and customers, while the low level of customer acceptance of interbank electronic payment services is noted in Ethiopia. However, this electronic payments service cannot deliver the intended benefits unless it is used by commercial banks.
mohammed_ab

Fawry survey shows Egyptians spend an estimated 240 million hours per year to make due ... - 1 views

dailynewsegypt.com/...-per-year-to-make-due-payments

Fawry E-payment Egypt

shared by mohammed_ab on 13 Feb 21 - No Cached
  • AIRO: There is a growing demand among Egyptian consumers for more convenient payment methods, according to a recent survey conducted by Fawry, the first nationwide electronic payment service in Egypt. Over 90 percent of Egyptians said that saving time was their primary concern when it comes to paying bills.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Even if Fawry is the leader in the egyptian market, consumers still require more services as they want the app to be more efficient and time saving.
  • Ashraf Sabry, CEO of Fawry, said, “Research conducted for Fawry by IPSOS showed that 85.6 percent of respondents surveyed are seeking more efficient payment methods for household bills. The average Egyptian family has between 15 to 17 regular payments to make. These include mobile and landline bills, utilities, insurance, school or university fees and much more.
  • Fawry was established in response to growing consumer demand for alternative payment methods that simplify the process of receiving bills and paying them. Fawry today has 12,000 Fawry payment points across the country, that form one-stop-shop, instant, multiple-bill payment locations
  • mohammed_ab on 13 Feb 21
     
    These two excerpts show that most Egyptians seek a convenient and quick way to pay bills as the number of daily transactions made by one household exceeds 15. Fawry came up with the right digital solution for these people whom 80% of them don't have a bank account.
kenza_abdelhaq

Robo-Advisors - Business Models and Strategies | ccecosystems.news - 0 views

ccecosystems.news/...business-models-and-strategies

Fintech Strategy Robot Advisors Investments

shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • As mentioned in the last article, it is not possible to define exactly what a robo-advisor is, as the individual providers offer a range of services of varying breadth. In fact, robo-advisors have long since ceased to offer mere recommendations or advice, and most providers are steadily expanding their services into a fully integrated solution. Accordingly, people now associate a robo-advisor with a platform that can also be used to make an investment directly (see [Bloch/Vins 2017, 114]). However, this service, for example, is linked to certain regulatory requirements, which are presented below. It should be noted here that this is the regulatory framework in Germany. In terms of regulation, four business models can be distinguished in the area of robo advisory services:
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      Since EasyEquities is about investment, having roboadvisors that provide financial advice would create more value to the company and would target more segments.
  • investment brokerage (german: Anlagenvermittlung),investment advice (Anlagenberatung),acquisition brokerage (Abschlussvermittlung), as well asfinancial portfolio management (Finanzportfolioverwaltung), also known as asset management.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt summarizes the business models that can be distinguished in the area of Robo-advisory services. The main difference between these business models lies in who is responsible for making the investment decision.
  • Robo-advisors can follow an active or passive investment approach not only in terms of their product range, but also in the composition of the individual products. In active management, for example, the market is constantly monitored and, on the basis of this, the securities that appear to be most advantageous at a given time are included in the portfolio. This targeted approach is described as so-called “stock picking” (see [Müller/Pester 2019, 229f]). Due to market fluctuations, there are thus regular purchases and sales of securities with the aim of achieving a higher return than the passive market. In the course of this, the percentage distribution of the asset classes in the portfolio can also be continuously adjusted and regular risk assessments carried out. As a result, the portfolio may be subject to constant change. The passive management approach is based on the strategy of maintaining the portfolio created at the beginning, including the asset allocation and the defined securities, unchanged and independent of market fluctuations. If a change in asset allocation should occur due to market fluctuations, the original state can be restored through various adjustment methods, also called “rebalancing”. In contrast to active management, this adjustment is not carried out on an ongoing basis, but at predetermined times or according to specific rules. In so-called “periodic rebalancing”, a restoration of the asset allocation is carried out as needed at the time of a previously defined temporal interval change. Another variant of rebalancing provides for an adjustment only if the portfolio value exceeds or falls below a previously defined mark, the threshold
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt distinguishes between Robo-advisors' active investment approach and passive investment approach, based on their product range but also on the composition of the individual products. Understanding the difference between the two approaches would allow us to better formulate strategies that incorporate Robo-advisory in them.
  • ...1 more annotation...
  • Online asset management has been experiencing a rapid rise in Germany for several years. Since 2017, the number of users has grown by a factor of 7 from around 291,000 in 2017 to around 2.01 million in 2020 (cf. o.V. 2020), while the investment volume has increased more than tenfold from around 756 million euros to 8.068 billion euros (cf. o.V. 2020). Two factors in particular are key to this trend
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      robo-advising or online asset management has been growing rapidly during the past years due to loss of trust in personal banking advisors amid the 2007 financial crisis and the new generation that prefers digital interactions.
nourserghini

GSMA | Decoding QR Codes: Are they useful for merchant payments in emerging markets? | ... - 0 views

www.gsma.com/...t-payments-in-emerging-markets

Snapscan SouthAfrica PIN service method

shared by nourserghini on 13 Feb 21 - No Cached
  • In the first case, a merchant is given a designated QR code by their acquirer that is linked to their bank account in the backend. Customers must scan the QR code using the camera on their smart device and then enter the amount to be paid and their individual PIN in order to complete the transaction. An example of this method is SnapScan.
    • nourserghini
      nourserghini on 13 Feb 21
       
      This article clearly explains the method that Snapscan follows where it uses a specific code for the acquirer and customers have to scan the code and enter an individual PIN to complete the operation.
mohammed_ab

How M-Pesa changed banking in Africa - CNN - 0 views

edition.cnn.com/...index.html

M-Pesa Mobile Money Fintech Kenya

shared by mohammed_ab on 12 Feb 21 - No Cached
  • The service will face stronger competition in the coming years. The Kenya Bankers Association -- representing 46 banks -- is introducing its own mobile payment platform that will allow convenient transfers between accounts at different banks, and the group hopes this will eat into M-Pesa's market share.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      the next decade will bring new challenges for the mobile payment system
  • The system was launched by Vodafone's Safaricom mobile operator in 2007 as a simple method of texting small payments between users. Today there are 30 million users in 10 countries and a range of services including international transfers, loans, and health provision. The system processed around 6 billion transactions in 2016 at a peak rate of 529 per second.
  • mohammed_ab on 12 Feb 21
     
    This article explains how M-Pesa, a small mobile money transfer using SMS has grown over the past 10 years, which enable the company to reach a level of success that was unpredictable. Today, the company has expanded its service & product offerings making the volume of transactions reaching a level of 529 per second. I think that this service could expand to all African countries, Morocco included, and it could have some great benefits to unbanked people in Morocco.
aminej

Les services bancaires mobiles au Kenya : l'exemple de M-Pesa | Direction gén... - 0 views

www.tresor.economie.gouv.fr/...s-au-kenya-l-exemple-de-m-pesa

Kenya Service Online Fintech Mobile Payment Cashless

shared by aminej on 13 Feb 21 - No Cached
  • Aujourd’hui, près de 19 millions de Kényans font un usage régulier de M-Pesa soit près de 70 % de la population adulte. Chaque seconde, environ 900 transactions sont réalisées par ce biais. Au total, M-Pesa voit transiter 68 % des transactions monétaires du pays, représentant en valeur 7 % des montants passant par l’ensemble des moyens de paiement du système bancaire et financier kényan, soit 25 Mds USD par an ou un peu plus du tiers du PIB du pays.
    • aminej
      aminej on 13 Feb 21
       
      I hope that Morocco will also adopt one day the same method as Kenyans in order to reduce the number of unbanked people and adapt with the digitalization that is the future for Africa. Most people still use cash which is outdated and not safe
mbellakbail69

Fawry: Making Payments Easier For 22 Million Egyptians | EgyptInnovate - 1 views

egyptinnovate.com/...ts-easier-22-million-egyptians

shared by mbellakbail69 on 13 Feb 21 - No Cached
  • echnology and its trends has made our lives easier especially in the fields of financial technology and payments. Now there are more advanced ways of payments and one of the most important players in Egypt in this field is Fawry. Fawry offers financial services to consumers and businesses through different channels and locations. Through Fawry you can pay your mobile, landline and utilities bills, donate money, renew your car license and more. Fawry was founded in 2008 and officially started in the market in 2010. They now have offered their service to reach 80,000 points of service in 300 cities all over Egypt. Their portfolio of businesses include: Orange, Vodafone, Etisalat, Go Bus, Lynks, Anghami, Ahl Misr Foundation, Resala and more
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Fawry made sure to regroup the strongest team from the beginning to work smoothly on the project. Also, they worked hard on changing the culture within the country, and push people to go for non traditional payment methods.
  • We started by hiring the best people we could find, for any startup to succeed it needs a really strong team especially at the beginning. We also got a good fund at the beginning from different entities such as Raya Holding, Technology Development Fund (Ideavelopers), Arab African International Bank, HSBC, Alexbank and other banks, this is what helped us build our brand.
  • Strong team management and good negotiation skills. The second thing is that it was a mutual investment fund, those investors already liked Fawry’s model and didn’t want to change anything but just help accelerate our growth with some cash. We are now a large corporate but with the spirit of a startup. Even until now, we appreciate everyone’s input at the company whether they have been working here for a month or 5 years. it doesn’t matter.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      Fawry was the only one investing in the business during that time.
  • mohammed_ab on 13 Feb 21
     
    I like how this excerpt underlines the different investors who believed in the value proposition of Fawry from the beginning. We see big names like HSBC that saw the potential of the idea and invested in the start-up.
hibaerrai

WorldRemit launches transfer tracker app - 0 views

www.finextra.com/...-launches-transfer-tracker-app

WorldRemit Remittance E-payments

shared by hibaerrai on 13 Feb 21 - No Cached
  • Consumer research shows that financial insecurity is at an all time high. WorldRemit is working tirelessly to increase transparency and support users by providing easy access to financial services. With WorldRemit’s proprietary technology, each user can now track the money they have been sent, giving them added peace of mind at a time when they need it most.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      WorldRemit continues to develop new apps and platforms everyday in order to increase financial inclusion in all countries. Their services are known for their speed, convenience and safety. I believe that this fintech is among the best ones in the world.
  • WorldRemit is one of the first companies in the global payments industry to launch a Transfer Tracker app exclusively with recipients in mind. The digital payments company allows senders in 50 countries to send money via the app or website to recipients in over 150 countries and can choose from multiple payout methods including bank deposits, mobile wallets, mobile airtime top-up and cash pick-up.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      WorldRemit might be surpassing popular fintechs in the next years. It goes beyond standard services and look for ones that suit all individuals in different countries.
nouhaila_zaki

How TPAY MOBILE is supporting inclusion across the Middle East and Africa - TPAY MOBILE - 4 views

tpaymobile.com/oss-the-middle-east-and-africa

TPAY Algeria Financial inclusion

shared by nouhaila_zaki on 07 Feb 21 - No Cached
  • And today our technology does just that, by allowing merchants and operators to accept mobile payments from consumers without the need for a traditional bank account.
    • nouhaila_zaki
      nouhaila_zaki on 07 Feb 21
       
      This reflects how the company targets underbanked groups, and how it achieves financial inclusion.
  • Coupled with the differing financial, legal, and operational processes across the MEA region is limited access to traditional banking infrastructure, with 63% (circa 1 billion) of the adult population unbanked. While this is a common trait in emerging markets, it does mean that traditional transactions based on credit and debit cards are not a realistic prospect for many consumers. However, with smartphone penetration growing apace, and with it the ability and desire to purchase goods and services through digital channels, there is an increasing need for alternative payment methods to support access and consumption.
    • nouhaila_zaki
      nouhaila_zaki on 07 Feb 21
       
      Here the article explains why there is a need for TPAY Mobile products: 1- Largely unbanked population = traditional transactions based on debit and credit cards are not realistic. 2- Smartphone penetration + ability & desire to purchase digitally = need for alternative payment methods.
  • And our team’s inclusion efforts don’t stop there. TPAY MOBILE employees have been volunteering and hosting financial literacy workshops with INJAZ Egypt, a non-profit organization empowering young people to own their economic success through partnering with businesses and educational institutions across the country.
    • nouhaila_zaki
      nouhaila_zaki on 07 Feb 21
       
      Social work for financial inclusion appears to be a priority for the company. Collaboration with an NGO in Egypt reflects that.
  • kenza_abdelhaq on 07 Feb 21
     
    Very interesting company! Even though it is an Algerian company, its scope goes beyond the African borders to include the whole MEA region!
kenzabenessalah

Snapscan Payment Method - Accept SnapScan Online - PayGate - 0 views

www.paygate.co.za/...snapscan

Scan SnapScan Efficiency

shared by kenzabenessalah on 13 Feb 21 - No Cached
  • Let your shoppers scan to pay for goods or services purchased on your website.
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      This allows society to minimize long queues and crowds around markets, shops, and other commercial shops.
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